In the commercial real estate article I recently wrote for ValueWalk, I talk about the long-term impact of our understandable new hyper-focus on health and sustainability and how that is changing landlords’ responsibilities and tenant desires and the real estate landscape going forward. Here are a few highlights from the article:
- Consumers are reconsidering everything about their routines which, in turn, is changing the expectations for their working spaces
- People are highly interested in innovations that address air quality, air filtration, water use and pathogen eradication. Temperature control systems, for example, should now be able to report on the quality of the air, clean it if necessary, and filter any air coming from outside.
- Recent environmentally conscious innovations, such as LED lighting, solar power, high performance windows and wall insulation will continue their rise in popularity.
- More investors are asking for Global Real Estate Sustainability Benchmark (GRESB) reports, and considering GRESB standards as they sculpt their portfolio.
- Tenants are prioritizing the health of their teams, asking for things like small areas for meditation, more room around each desk, and more access to outdoor space
- Investments in technological infrastructure that make it easier to work remote are all the more important, as employers seek to strike a balance between time at the office and time at home.