Article submitted by Bill Jeansonne, Commercial Investment Specialist for Saurage Rotenberg Commercial Real Estate
We have experienced many changes in the economy over the past several years. It is not surprising that office space requirements for individuals and their support space within a building are continuing to change—often rather drastically.
In an article “How Much Space Do We Need?” by Norman G. Miller & Roger J. Brown, CCIM, several significant points are made:
– Space utilization factors include:
o Hoteling
o Turnover
o Employee Age
o Parking
– Second generation space is significantly more difficult to use efficiently
– Office space per worker is much less in Europe and Asia
– Companies are increasing the space dedicated to collaboration and team space
– Trends are toward greener space with more light
– Average office spaces are expected to continue to fall
– Total demand will continue to grow at a slower pace
The authors conclude: “At the end of the day, landlords are not selling space but rather productivity. More productive environments with better natural light, temperature and air controls, cleaner air and controllable noise are more productive and will command rental premiums.”
To read this article in its entirety click HERE.
Bill Jeansonne, a native of Alexandria, Louisiana, received both his undergraduate degree and master’s in business administration (MBA) from Louisiana State University (LSU). Bill has 13 years experience in the commercial and industrial real estate business and 14 years experience in commercial and industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations and tenant build outs.
A Designee member of the Certified Commercial Investment Member Institute (CCIM), Bill’s professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU MBA Alumni Association, a founding member of the board of managers for the Louisiana Commercial Data Base (LACDB), a member of Louisiana REALTORS® (LR), a member of the National Association of REALTORS® (NAR), and a member of the International Council of Shopping Centers (ICSC). Bill has also served as a president of CID, a chairman of the CID Trends Program, a chairman of the LSU MBA Alumni Association Louisiana Looking Up Program, and on the Baton Rouge Area Chamber (BRAC) Trends committee. His current civic affiliations and past service include board chairman of the Baton Rouge Speech and Hearing Foundation, president of the Capitol SERTOMA Club of Baton Rouge, member of the Cadets of the Ole War Skule, and an alumnus of Omicron Delta Kappa (OΔK).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
