Companies are increasingly moving operations to urban locations according to a global poll from CoreNet Global and Cushman & Wakefield
Companies are increasingly moving operations to urban locations according to a global poll from CoreNet Global and Cushman & Wakefield.
Almost half of the real estate professionals polled said they had moved an operation from a suburban or rural location to an urban one recently. This was especially true for clients in the telecoms industry.
The global trend shows that larger companies (100k+ employees) are even more likely to urbanize their workplace with 60% of real estate professionals reporting that. The trend is highest in the Americas (46%).
The driving force behind the urbanization is the search for tech-savvy talent, frequently millennials who often strongly favor urban living. Innovative spaces, customer relationships and employee satisfaction are other key factors.
Suburban locations are still favored for some types of operations with office space cheaper outside urban centers.
"Suburban markets are increasingly focused on 'urban-esque' offerings in a pursuit to attract and retain employers and their employees," said David C. Smith, Senior Director, Occupier Research, Americas, Cushman & Wakefield. "Key components of these developments are proximity to multiple transportation options, creative office designs with natural light and collaborative work spaces, and access to a variety of amenities."
Almost half of the real estate professionals polled said they had moved an operation from a suburban or rural location to an urban one recently. This was especially true for clients in the telecoms industry.
The global trend shows that larger companies (100k+ employees) are even more likely to urbanize their workplace with 60% of real estate professionals reporting that. The trend is highest in the Americas (46%).
The driving force behind the urbanization is the search for tech-savvy talent, frequently millennials who often strongly favor urban living. Innovative spaces, customer relationships and employee satisfaction are other key factors.
Suburban locations are still favored for some types of operations with office space cheaper outside urban centers.
"Suburban markets are increasingly focused on 'urban-esque' offerings in a pursuit to attract and retain employers and their employees," said David C. Smith, Senior Director, Occupier Research, Americas, Cushman & Wakefield. "Key components of these developments are proximity to multiple transportation options, creative office designs with natural light and collaborative work spaces, and access to a variety of amenities."
