How To Prepare For The Mad Rush for Office Space in 2021
Nov 23, 2020
Pfizer announced this week that they will begin distributing its COVID-19 Vaccine in December. If this becomes a reality and is proven to be safe and effective, then office leasing activity will actually begin.
The big tech tenants like Google, Facebook, and Salesforce previously announced employees will return to the office by June or July 2021. But before that can happen, there are going to be several steps that need to take place. First, you have to have an efficient distribution system in order to get as many people vaccinated as possible. This may look akin to a war-like effort that will take several months to accomplish. In addition, there are going to be people who do not believe in vaccines and won’t take it. Therefore, we’ll need to have certain safety regulations in place for office spaces. Lastly, schools will need to reopen before we are back in the office. Without schools and daycare open, parents will have a tough time coming back.
Rethink your office layout now. If big tech holds off until June or July, then by March or April other tech firms will begin rethinking how they will reopen offices. What office layout will work in today’s new environment? How can we rework our current office layout to make sure it’s safe? Many might need to consider changing offices altogether in order to accommodate more space between workstations or go smaller if only half of the employees are allowed in the office at one time. Some businesses will have to figure out how to sublease their existing space and find a new one. This will prove very difficult with everyone trying to move at once.
Plan furniture needs now. Even with limited leasing deals today, there’s already a backup in furniture orders. When the market comes back, expect major delays. It’s best to get your office layout designed, and get your furniture orders in sooner rather than later.
We recently launched TradeAddresses.com – a full-service subleasing firm that will take care of all of your move-in needs. Browse our private portal where you can trade your office space, your furniture, and your equipment with another firm that needs your space. We can also assist in managing your entire move– from furniture to moving to all your IT needs through our Trade Addresses Concierge services.
Visit TradeAddresses.com to learn more about how we can take the headache of next year’s move.
Written by: Hans Hansson
Hans Hansson is President of Starboard Commercial Real Estate. Hans has been an active broker for over 35 years in the San Francisco Bay Area and specializes in office leasing and investments. If you have any questions or comments please email firstname.lastname@example.org or call him at (415) 765-6897. You may also check out his website, hanshansson.com.