Fred Wilson, author of the popular blog, AVC (A Venture Capitalist), writes today about the likely future of commercial real estate. He believes most businesses will likely need about 60 percent of their office space needs. His recommendations are as follows for companies with expiring leases:
- Take temporary space for next year or two.
- Shop around and be aggressive in offers for space including sublease space.
- avoid expensive buildups and focus on very flexible spacing.
- figure out how to integrate remote workers into your office environment.
- offer perks (e.g., food offered in space) to encourage employees to be in the office.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.