This is the first External Affairs Alert for 2017. Each Alert will ask you, the CRE membership, to offer your opinions, feedback and thought leadership on a real estate issue or trend. Some are significant and may be included in the CRE® Top Ten Issues Affecting Real Estate this year.

We want to hear from you. Is this a major trend? Is it occurring in your market? Is it something you feel is important to the industry? What do you see as the implications?

Office Amenities

Theresa Nygard, CRE, writes, “… Office buildings are starting to offer amenities that seem more consistent with residential construction, or the province of corporate facilities – for employees. This seems revolutionary … small firms, as tenants, can access positive work/life facilities and services that might otherwise only be offered by large companies. It also raises the bar as to how buildings are renovated/constructed. I think this also ties in to the ‘WeWork’ phenomenon, which provides some of these perks to the ‘tenant/member’ who is just taking desk space.”

We are seeing this in Chicago within newer construction, but also in renovated properties, such as the historic Wrigley Building. The office model keeps changing (Think CBRE and Workplace 360, for instance).

More examples of these office amenities are detailed here and here.

Please reply to info@cre.org to let us know your thoughts.

Peter C. Burley, CRE, Chair, External Affairs Committee
Victor Calanog, CRE, Vice Chair, External Affairs Committee
Theresa Nygard, CRE, Sector Leader, Valuation/Appraisal, External Affairs Committee