Tag Archives: office space
Effective 6 AM on June 4, 2021, employers had the green light to require their employees to return to the office. Gov. Phil Murphy’s Executive Order No. 243 rescinds the requirement that businesses and nonprofits must accommodate telework arrangements to the maximum extent practicable, and reduce on-site staff to the minimum needed for operations. The order also states that employers no longer need to require masks and social distancing in the workplace for those fully vaccinated.
The speed of the economic recovery has been stunning, as vaccinations and stimulus funds are driving consumer spending. The U.S. economy is expected to recover to pre-pandemic levels later this month. “Key sections of our region’s economy, however, are still reliant on the tourism and travel industries that may continue to be hobbled by slower vaccinations and travel restrictions abroad,” according to Duncan Kisia, a leading economist with Port Authority of New York & New Jersey, who spoke at a recent NAIOP New Jersey forum.
This economic rebound is fueling job growth in office-using sectors, although tenant safety concerns remain a drag on office leasing. According to NAIOP’s Q2 2021 Office Space Demand Forecast, negative net absorption will moderate over the next two quarters, with a return to positive absorption in the fourth quarter of 2021. National office space absorption is expected to stabilize by mid-2022, with quarterly figures expected to average 11.7 million square feet, in line with the 2015 to 2019 quarterly average of 11.6 million square feet. Most K-12 schools plan to resume full in-person instruction in the fall, and that should contribute to a more widespread return to the office. This trend will only strengthen if Congress passes a significant infrastructure package, which is likely.
Although tenants have begun to return to offices, it remains to be seen how widely employers will adopt long-term remote work policies. Surveys showed remote work was successful for many firms, and it is clear that many will partially incorporate this model into future plans. Remote work will likely limit net absorption for the next several quarters. Due to population and pricing shifts, experts expect suburban office space to be in relatively greater demand than central business district space in the near term. Tenant comfort may lead to less dense office layouts than before the pandemic, partially offsetting declines in demand due to remote work.
The NAIOP Forecast assumes a continued rebound in real GDP for the remainder of 2021, 2022 and 2023. Real GDP is expected to expand by 7.7 percent in the next two years, with average unemployment of approximately 4.5 percent. The forecast also assumes that Personal Consumption Expenditure (PCE) inflation will average 2 percent in the next two years. It generally takes several quarters for office net absorption rates to recover from the effects of an economic recession. Under three different scenarios, the office market would return to normal net absorption by the second half of 2022. The baseline forecast assumes that the recent recession will lead to a 15 percent reduction in net absorption (factoring in remote work arrangements), which is in line with what I am hearing.
“Employers planning for a transition to a post-pandemic workplace are faced with a host of novel issues — and addressing a disconnect with employees about what the future of work and the return to physical workspaces looks like it is at the top of the list,” according to The Littler Annual Employer Survey Report released last month. While 71 percent of employers surveyed believe that most of their employees who can work remotely prefer a hybrid model and only 4 percent prefer full-time in-person work, 28 percent of those employers plan to have most employees return full time and in person, and 55 percent will offer a hybrid model.
Questions about returning to the physical workplace and vaccinations are only part of the conundrum facing employers. COVID-19 accelerated the trend of technology displacing employees, and more workers than ever are suffering from “crisis fatigue” and burnout. Couple these ongoing pandemic-related workforce management issues with anticipated federal regulatory changes, and the challenges ahead are daunting. On the regulatory front, most employers (81 percent) are concerned about how changes to paid sick and family leave requirements — a promised Biden administration initiative — will impact business in the next year. Other top concerns: income equality measures (64 percent); inclusion, equity and diversity considerations (55 percent); and health care (51 percent). With more Washington gridlock expected, state and local regulations are high on executives’ radar, with 83 percent expressing moderate or significant concern over associated enforcement and compliance expectations.
More than half of respondents are either moderately or extremely concerned about maintaining company culture, collaboration and employee loyalty in a remote work environment (57 percent) and the impact of the pandemic on employee mental health and well-being (52 percent). Employers are making strides to address these issues (e.g., 84 percent are offering mental health services and/or Employee Assistance Programs) but some may have room for improvement in areas such as implementing new ways to reward employees for their hard work, and training managers to help respond to employees in need.
Now that the future has arrived, I am sure that all employers would agree that employees are the most critical resource for success. Striking the right balance for the new workplace will likely be case-sensitive, and will no doubt take some time and a great deal of patience.
For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (firstname.lastname@example.org) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier New Jersey and Philadelphia commercial real estate brokerage firm that provides a full range of New Jersey and Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other New Jersey and Philadelphia commercial properties for buyers, tenants, investors, and sellers.
A New Jersey and Philadelphia commercial real estate broker with expertise in New Jersey and Philadelphia commercial real estate listings, Wolf Commercial Real Estate provides unparalleled expertise in matching companies and individuals seeking new New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, or New Jersey and Philadelphia industrial space with the New Jersey and Philadelphia commercial properties that best meets their needs.
As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals. If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and Philadelphia commercial real estate broker you need – a strategic partner who is fully invested in your long-term growth and success.
Please visit our websites for a full listing of South Jersey, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.
Let’s look at How to Get the Most Out of Your Office Space. There’s nothing worse than working in a cluttered cramped space from 9 to 5. The space you share with your team matters. The culture of your business depends on the comfort of your employees. However, before you evaluate how much square footage you need, look into the design of your floor plan. Make a list of what is most important in your office space in order drive the most business and keep employee morale high. Is your company heavy on meetings? Do you have a need for a fun and extensive lunch area, or do most people leave the office for lunch? Do you entertain in the office space? Do you need specific areas for storage of marketing goods or other products? You may be holding onto a layout you no longer need, when you can be maximizing the space for more important things. There are many ways to make the most of the space you’re in now, therefore take the time to properly evaluate your office space using the steps below.
How to Get the Most Out of Your Office Space
LET NATURAL LIGHT IN to Get the Most Out of Your Office Space
Natural light not only affects mood, but also the aesthetics of a space. Light can make rooms feel larger and better the mood of your employees. This comes down to color contrast. If you’re in a room that is dark, it will feel like you’re in a tight constricted space. Consider opening the blinds to let light in. If you have light colored walls and furniture, the light will bounce off and give the feeling that you’re in a larger space than you really are. If
you’re feeling adventurous, install a skylight in the office. You’ll be surprised how much light a skylight lets in. To avoid glare, add a filter so light is spread evenly throughout the office.
BECOME LESS RELIANT ON PAPER to Get the Most Out of Your Office Space
Not only is printing documents killing trees, it’s not as necessary as it was in the past. With the technology that we have today, you can share documents easily without having to print on a single piece of paper. This will also allow you to minimize the space needed for a printing station and using the space for something else. You will also save on ink, paper, and electricity costs by switching everything to digital.
UTILIZE COMMON AREAS to Get the Most Out of Your Office Space
You may not have as small a space as you think! Do you have dedicated areas specifically for meetings like conference rooms or a dining area? Those spaces can be used as extra work space.
It’s refreshing to have a change of scenery when you’re working. This is great, especially if your employees have their own laptops. Spread out and utilize the space you already have, but may not be using 80% of the time. Your employees will feel happier and their productivity will go up as a result.
CREATIVELY STORE to Get the Most Out of Your Office Space
You would be surprised on how many “dead spaces you actually have within your office layout. Underneath most desks and cubicles there exists an empty space where you can add either low bookcases or filing to hide items that require long term storage. By examining this storage option you will eliminate the need for storage in other areas, and gain back some of that wasted square footage. Cubicles and office desks now even have options for built in coat closets which allow employees to store their coats within their own space and allow you to eliminate the need for a central coat closet. Gaining the closet space back can allow you to rethink how that area can be designed.
MAKE SMART CHOICES ON FURNITURE to Get the Most Out of Your Office Space
Select furniture pieces that are easy to store and tuck away neatly when furnishing areas that are used less than 25% of the time. Plan your space with the overall design in mind. Whichever is your preference in color and style try and stay consistent throughout so that your message is as consistent as your sales process. Filing cabinets tend to take up a lot of space. Save your files digitally in a cloud instead of having physical pieces of paper, folders, binders, paper clips, etc, whenever allowable. You and your employees will be much more comfortable with the fresh open space!
FOR MORE INFORMATION CONTACT:
6950 Sherman Lane
Pennsauken, NJ 08110
The open office presents some etiquette concerns. Let’s examine Policies, Protocol and Politeness as it relates to the open office environment. Cost considerations and space utilization can direct an organization’s decision to move from private to mostly open space. However, achieving strategic goals and supporting a firm’s mission, brand message and culture often play a more significant role. By improving collaboration and communication, flattening hierarchies and eliminating siloes, open environments can catalyze the innovation businesses seek.
Removing barriers and creating a more efficient footprint brings additional benefits. Open office environments can enhance workplace flexibility and provide the agility to meet evolving business needs. Infusing a workplace with natural daylight helps achieve sustainability and wellness initiatives.
Transforming a workplace to a more open setting creates an opportunity to drive other organizational changes.
A successful approach to the shift is pragmatic, holistic and begins well in advance of occupancy. It continues through the actual transition and includes regular updates and checkins. Developing and introducing appropriate guidelines, expectations and etiquette to the workforce will help streamline your firm’s adjustment to its new environment, minimizing downtime and lowering stress levels. This paper provides advice on the process for developing workplace protocols and presents an example of guidelines for a hypothetical company that addresses some typical hot button issues.
SIMPLE PROCESS FOR DEVELOPING WORKPLACE PROTOCOLS
Before the move
• Gain leadership support and sponsorship. An effective shift begins at the top. Active and visible leaders play a critical role in times of change. It is important to involve them early in the process as they provide the authority and influence necessary for a successful workplace change. An employee’s direct manager also plays a significant role in providing specific information and reinforcing change principles.
• Introduce the open office concept. Using multiple forms of media and approaches, educate employees on the changes taking place and the business reasons for the change. Maintain a positive, informative tone while highlighting ways it will benefit them as well as the organization.
• Initiate a transition from the old environment to the new. Provide the support and tools necessary to assist employees in the change. For example, shredding and scanning materials ease the move to digital records. Consider offering incentives or sponsoring a company-wide contest for purging physical files.
• Involve employees in creating guidelines. Including employees in the process will further engage them, solidify “buy-in” and sidestep a perception that change is “being done to them.” An appropriate level of engagement can give employees a voice, without setting unrealistic expectations of influence.
Assemble a small group of employees who represent different areas of the business that will be moving to the
Using the sample guidelines we have provided, brainstorm a list of no more than 5 to 8 issues relative to adopting an open workplace that the group feels should be addressed. Within that list, include these three areas of concern: audible distractions, privacy and uninvited interruptions.
Employee representatives can then solicit input from co-workers on the specific issues, such as common sources of noise in the office, and the collective team can create a short “rule” or guideline that addresses each issue. Some issues may require more than one guideline.
• Consult with Human Resources to assure compliance. Your Human Resources representative should be
involved to ensure that any guidelines you create align with existing policies. • Confirm that the appropriate infrastructure is in place. Security and shared spaces reservation systems should be functional; individual and team workspaces should be fully equipped and accessible. Storage and supplies should be available. All elements of technology, including hardware, power and connectivity, must be available, serviceable and reliable. Be sure to provide proper training to employees and managers on how to use new spaces and technologies.
DURING THE MOVE
• Deliver guidelines. Use the release of guidelines as an opportunity to reiterate your message and celebrate the mission. Depending on the number of employees involved in the change, you can incorporate the guidelines with other training meetings related to the move. If that is not practical, the guidelines can be posted on the corporate intranet and/or presented via “lunch & learn,” webinar, town hall or other method appropriate to your organization’s size and culture. Guidelines should also be a component of onboarding materials for new hires.
• Make the change a positive experience. Celebrating the move process with events and consistent visuals and messaging acts to reinforce a positive experience. Consider providing a welcome letter from leadership and a small office-related gift to each employee on move day.
• Distribute all essential materials and guides. In addition to the sample guidelines presented, develop a printed series of handouts such as office plans, technology instructions and codes, and any other needed guides that employees can refer to.
• On move day, have staff on-hand to resolve problems and answer questions.
• Lead by example. Managing a successful change starts in the C-suite. Encourage all levels of the organization to follow the suggested guidelines on a daily basis. Users will be more inclined to accept their new workstyle upon seeing senior leaders adopting the new workplace norms.
AFTER THE MOVE
• Monitor and adjust. Assess the successes and shortcomings of the change process. There is no substitute for regular face-to face conversations and walking around to see if policies are working and being adhered to.
Build in means for users to submit feedback on how they feel the guidelines are working after about 90 days. Based on insights learned, policies can be tweaked as needed.
A well-executed plan will aid in acceptance of a new environment. Moreover, knowing their input was considered and future feedback welcomed will engage and encourage employees to embrace their new space.
CLICK HERE TO SEE THE SAMPLE GUIDELINES FOR OPEN OFFICE POLICIES, PROTOCOL AND POLITENESS INCLUDED WITH THIS ARTICLE
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New Assignments Bring Additional 113,000 Square Feet Under Firm’s Control
March 1, 2018 – Marlton, NJ – Wolf Commercial Real Estate (WCRE) is pleased to announce that it has been appointed exclusive agent for 13 new projects in the Southern New Jersey and Philadelphia region.
WCRE continues to raise the bar with an aggressive marketing and branding strategy and has increased its South Jersey and Philly presence. WCRE will assume marketing, leasing and sale responsibilities for an additional 13 properties totaling approximately 113,000 SF.
The team at WCRE now oversees over 175 properties throughout the PA/NJ market encompassing over 4.2M square feet of office, retail, industrial, healthcare and investment real estate.
“We see endless possibility in the properties our clients have entrusted to WCRE, and we are excited to connect new prospects with these assets.” said WCRE managing principal Jason Wolf.
The New Projects awarded to WCRE during the first two months of 2018 are as follows:
- 1140 White Horse Road, Voorhees, NJ (25,000 SF Retail Building)
- 1030 Auburn Road, Woolwich, NJ (4.2 Acres)
- 601 Route 130 North, West Collingswood, NJ (2,113 SF Commercial Building on .35 Acres)
- 605 Route 130 North, West Collingswood, NJ (1,200 SF Commercial Building on .27 Acres)
- 513 Centennial Drive, Voorhees, NJ (6,700 SF Office Building on 1.31 Acres)
- 1504 Blackwood Clementon Road, Blackwood, NJ (3,000 SF Office Building on .34 acres)
- 297 Easton Road, Horsham, PA (.62 Acres)
- 146 East Evesham Road, Cherry Hill, NJ (.92 Acres)
- 133-136 Route 73, Voorhees, NJ (25,000 SF Medical Office on 2.85 acres)
- 816 North Black Horse Pike, Gloucester Township, NJ (1.39 Acres)
- 162 West Cohawkin Road, East Greenwich, NJ (25,000 SF Retail Property on 2.5 Acres)
- 55-59 High Street, Mount Holly, NJ (13,000 SF Office Building on .12 acres)
- 735 Bethlehem Pike, Montgomeryville, PA (3,234 SF Retail Building on .39 acres)
- 700 W Browning Road, Collingswood, NJ (8,250 SF Retail Building)
A marketing brochure for each of these properties is available upon request.
WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long-term growth and success.
Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.moorestownofficespace.com, www.moorestownmedicalspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.
How can you increase the return on your investment by utilizing office space? When a business makes an investment, they expect to see a return on that investment. So it is important, that when making design decisions that you first establish the outcomes that you expect and that the interiors solution provider that you are working with knows how to use design to achieve those outcomes to help you
reach your corporate goals.
Utilizing Office Space for Employee Engagement
Each year, actively disengaged employees cost U.S. companies between $450-$550 billion in lost productivity. Making sure that employees are engaged in the job that they do, will have a big impact on your business. Not only will it make a work more meaningful for your employees, but it will employees will have a sense of purpose.
Incorporating flexibility and adaptability into an office creates a balance within the space. By using adaptable desks, lounges, phone areas and touchdown spaces, workspaces should contain different types of spaces within one space for employees to engage in collaboration or focused work. Designing your space to reflect your company’s core values will consistently support employee engagement.
Utilizing Office Space for Retention and Recruitment
As employee engagement increases, so does retention rate. In fact, recent studies have found that strategic office design has a huge impact on the overall satisfaction of employees. By incorporating design features such as an natural lighting, adjustable and multi-use furniture and a variety of workspaces to supplement an open floor plan increases employee retention.
As far as recruitment goes, by 2020, 40% of the workforce will be millennials, and the new workforce wants to feel connected and engaged in the work that they do. In addition to the other design features mentioned, top talent is looking for flexibility when choosing a job, so why not allow for easy access to technology in your space. By having a state-of-the-art design in the workspace, not only will it optimize efficiency and productivity, but it will attract the best talent to your company.
Utilizing Office Space to the Max Per Square Foot
In order to maximize spatial efficiency, will keeps cost down and increase profit. So designing your workspace
to be flexible and adaptable leaves room for your business to grow and change as needed. For example, current
seating trends such as hoteling, benching and hot desking decrease the amount of square footage needed per
employee which will allow room in your workspace other needed areas like touchdown spaces, quiet areas,
collaborative spaces or meeting rooms.
Most businesses are pretty conservative when it comes to design spending, but when you strategically plan design investment to achieve certain outcomes, not only will you see a big return, but you will maximize productivity, increase competitiveness and achieve your corporate goals.
Bellia President, Anthony Bellia understands and values the importance of helping clients succeed by providing a seamless experience when furnishing commercial interiors. Bellia Workspace Solutions is a family owned and run business with over 40 years of experience and service to the community. Their clients’ visions and goals are the motivation for probing into the culture, style and nature within workspaces. It is his mission to help companies within the Tri-state area be more magnetic to remain strong and continue to grow by attracting top talent, building spaces that provide flexibility in the future, and creating branded environments that support the company message.
The reception area or waiting lobby plays an integral part of your office. It’s the first impression that an individual makes and can either help or deter business from you. If you didn’t know already, you spend a considerable amount of your day in your office. Being that your office is practically your home, your clients and potential clients will visit your home (office) frequently to conduct business and discuss other matters. Therefore, you must plan the architecture and interior of your office in such a way that promotes conversation and motivates you and your employees to achieve success.
The reception area or waiting lobby plays an integral part of your office. It’s the first impression that an individual makes and can either help or deter business from you. We wanted to take this opportunity to discuss a few reasons as to why your reception area is important for your business:
YOUR RECEPTION AREA SETS THE TONE FOR THE FUTURE
This is the first place where a visitor or client is received as he enters your office. By having a look at the reception area, a visitor can develop the first impression about how well managed is the organization. Since visitors are requested to wait in the reception area, there must be proper arrangements for their sitting and refreshments. Visitors sitting in the lobby are mostly alone, so they have ample amount of time to focus on their surroundings. Therefore, it is vital to keep everything in the lobby well arranged and in a proper shape. You should hire some dynamic individuals to manage your reception area efficiently.
IT AFFECTS THE VISITORS AND YOUR EMPLOYEES’ MINDSET
Visitors come to your office from distant places. They may be a bit irritated due to traffic jams or a variety of other reasons. Therefore, your lobby should be designed and decorated in such a way that it provides comfort and relaxation to the visitor. Same is the case with your employees. They come to work daily with some or the other tension in their mind. So, the reception area should induce calmness and positivity in your employees.
IT HELPS IN IMPROVING BUSINESS RELATIONSHIPS
It is the first place where clients meet before proceeding to conference rooms. So, you should pay adequate attention to the level of comfort provided by the furniture placed in the reception area. You should make proper arrangements for air conditioning in this area and try to make the atmosphere vibrant. The talks held in this part of the office are really important and therefore its ambience can have a positive or negative effect on business relationships. The more comfortable the visitors are; the more fruitful is the communication.
HIRE A PROFESSIONAL RECEPTIONIST
You should appoint a competent receptionist to welcome the guests. He/she is the first person with whom the client has face to face interaction after entering your office. Hence, the receptionist should be soft spoken and well mannered. He/she should be an excellent communicator and be able to handle all the tasks carried on at the reception area. These tasks include maintaining visitors’ list, scheduling appointments, receiving calls/emails and responding to them, prioritizing the tasks, etc.
Without question, the reception desk needs to be properly designed to help the receptionist perform all the activities comfortably. The reception desk should have ample space for storage to work. Designing a space with a reception area can be tricky, if you would like advice or input, be sure to think of the perfect balance between new and preowned office furniture.
FOR MORE INFORMATION CONTACT:
Josh Smargiassi: Principal