The way we work and where we work is progressively evolving. However, at some point in the previous half-century, we stopped erecting towering office buildings and began to develop more campus-style workplaces in the suburbs or on the outskirts of cities – or so it seemed. In many circumstances, it is also less expensive to construct a new property in the suburbs than it is to renovate and convert an older urban structure. Parking grew simpler as a result of the change, workplace facilities expanded, and commute times rose.
Has office construction in the suburbs been more popular than in cities? Let’s check out Orlando.
The East Coast’s office development was far from uniform: Suburban regions gained more office space than urban and central business district areas combined in every city, but some cities witnessed more urban office expansion than others. Since 2002, the majority of office space built in Florida has been in the suburbs, with 81 percent of office space added in the suburbs totaling more than 81 million square feet over 1,153 sites. In fact, just 25 properties were built in central business districts throughout the five Florida cities that Commercial Space looked at: Miami, Ft. Lauderdale, Tampa, Orlando, and Jacksonville — accounting for less than 3% of all properties added during this time period.
In the great majority of markets throughout the country, suburban office expansion exceeded urban office construction. Then, as part of the campus-style suburban office, smaller towns sprung up, attracting auxiliary companies to support the workers, which in turn drew more businesses and growth. It’s difficult to anticipate how the workplace will look in 20 years, and the epidemic has only increased mixed work patterns and remote working tendencies. Even yet, the terrain might take on a drastically different appearance. However, real estate doesn’t change that quickly, and companies appear to be springing up everywhere – with more room on the way.
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