Offices, Workplace Commercial Construction Outlook

Commercial Construction

In November 2022, in-office occupancy increased to its highest level since 2020. But commercial construction is anticipated to decline because of the deflated tech market, according to construction journalist Sebastian Obando.

“Be conservative” with investment in the office sector, advises one real estate research professional. Even though more remote workers are heading back to the office, technology hiring freezes caused a slowdown that begin impacting commercial construction in 4Q22.

What’s Trending in Office Commercial Construction

Economic use of space may be the trend for offices and commercial construction. Suburban locales vs. downtown may increase. But the strongest magnet attracting tenants (and investors) will be higher quality, “luxury” offices.

Rather than creating a sense of space, office design will be geared toward creating a sense of place:

Placemaking is the concept of finding unique qualities within a community that speaks to the culture, environment, and people that live there…Placemaking has been linked to increased job satisfaction and motivation in the workplace. RS&H

Other corporate office design trends to watch in 2023 include:

  • Associate feedback – The design process can incorporate employee feedback, from color choices to architectural layout. Ask questions: What are the challenges of in-office work you have faced? What amenities would you most appreciate?
  • Modular construction – This construction method continues to drive residential and commercial construction design. It’s also one way to manage labor shortages. But another advantage is last-minute designs and design changes are more adaptable.
  • Spaces designed to accommodate varied work styles – Cubes and pods will feel more like workplace choices for privacy rather than mandatory “prison” cells. Small conference rooms will allow teams to work together and brainstorm.
  • Well-being in the workplace – Attention to comfort and uplifting moods can increase productivity and employee retention. An onsite “café” with workstations or games in the break room are ideas.

Commercial construction and construction industry trends are among our specialties. Our experts can explain how area-specific, critical building permit data can guide your decision-making. And our ideas can improve your business profit trends next year aned beyond.

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