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Architectural design has the power to foster distinction, which has multiple benefits for businesses that want to stand out from the competition. Well-designed buildings can have a positive impact on employee morale, job performance and overall well-being. And for property owners, smart design choices result in more competitive properties and greater appreciation in asset value.
The current push in the suburban commercial real estate market, specifically along Route 128 and Interstate 495, is to create urban-like, amenity-rich environments that offer a mix of commercial office space, retail amentities, restaurants, after-hours socializing spots, and personal services. To attract top talent, tenants are demanding high-end amenities — and they are willing to pay for them. Many suburban commercial buildings and office parks that have housed businesses for more than 30 years are now dated in appearance and are underperforming. Yet with design improvements, these properties can be attractive to new tenants due to their good locations, infrastructure, and competitive lease rates. From a property owner's perspective, these properties often have attractive acquisition costs, in the range of, per square foot, the low $30s to $80. At those prices, owners have some margin for investing in capital improvements, with lease rates in the range of the low to mid-$20s per square foot. Suburban properties also offer the benefits of more convenient commutes, free and abundant parking, and open space for future expansion. The potential appreciation of these properties is a major driver in the revitalization of the market.
For businesses, an office building is an important visual and functional element for promoting a company's brand. Your building serves as a billboard to the world; one that should convey success. First impressions are crucial, and they are formed long before a client reaches the reception desk. As architects, we examine the visitor's journey starting from the roadway, through the parking lot, and into the lobby to identify opportunities for design transformations. Recommendations can range from minor fixes, such as parking, landscaping, and site amenities, to bold enhancements to facades, entries, lobbies and common areas. It's important for every aspect of the property to reinforcea a company's brand.
Transforming dated buildings into amenity-rich communities is a must for growing companies looking to attract young employees. For the property owners, meanwhile, it's an opportune time to convert these older properties into the contemporary campuses sought after in today's suburban market.
Modern lobbies, for example, are often vibrant, light-filled community spaces showcasing innovative features such as bleacher seating and jumbo screens. Cubicle farms are being replaced by more efficient — and often unassigned — work areas, as well as huddle rooms, phone rooms, and collaboration spaces. Employees want to be able to work anywhere they choose — whether it's in the lobby or outside in the central green space, so Wi-Fi is a must-have. And amenity centers with high-end cafeterias offering healthy food options; cafés with outdoor dining and fire pits; yoga and fitness centers; and gaming spaces are all becoming more common.
Laddawn Inc., a plastics manufacturer based in Devens, is a prime example of a local company that created a vibrant workplace in order to attract top talent to the region. As Laddawn's corporate architect, we blended modern elements with an organic-industrial design concept. The outside was “brought in” through the installation of a climbing wall and faux grass, combined with slate, concrete and exposed steel finishes. Traditional office layouts were swapped for creative common spaces; treadmill and balance ball workstation areas; lounge areas; a café-style kitchen; and an outdoor patio that encourages socializing.
With the changing demographics and interests of today's workforce, suburban properties are in competition with urban ones that offer the live-work-play lifestyle popular with millennials. It's exciting to see suburban property owners incorporating more innovative amentities into the workplace to maintain an edge.
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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