Top Ten Largest CBDs in the USA

Posted on June 5th, 2024

Image of New York City’s skyline as the sun is rising. The actual sunrise is obscured by the skyline, packed with the central business district’s skyscrapers, but sunlight is streaming down one street. Image at Offices.net.

All over the United States, central business districts serve as a magnet for economic growth and employment. In this article, we offer an updated overview of the top 10 largest CBDs in the country, accounting for the changes that CBDs have experienced post-2020.

1. New York City

New York City’s CBD is the largest in the country and covers a large area in Midtown and downtown Manhattan.

The city’s CBD contains nearly 420 million square feet of office real estate, with the biggest clusters being in Grand Central, Penn Station, Sixth Avenue, Rockefeller Center, Financial East, and World Trade Center.

Read More »

The Cost of Renting Office Space in Boston

Posted on May 24th, 2024

A daytime view of downtown Boston’s skyline from the waterfront. Image at Offices.net.

Thanks to its academic status and thriving innovation scene, Boston is considered one of the top business hubs on the East Coast. In particular, the city and the surrounding areas have become the destination of choice for many startups, not only due to the availability of talent and funding, but also given the quality and diversity of office accommodation options. 

In this article, we offer detailed insights into the cost of renting office space in Boston, district by district. 

Office market trends in Boston

Over the past decade, the Boston office space market has seen fluctuating performance, witnessing shifts in demand and supply. Initially, the growth of the tech and life sciences sectors contributed to the expansion of the office market, with the development of new and modern spaces that could accommodate the requirements of these occupiers. Low vacancy levels translated into increasing asking rates, in particular in areas like East Cambridge and Sommerville, while other tenants were pushed out of the market as they couldn’t always compete with the budget of occupiers like MIT, Novartis, and Google. 

Read More »

Analyzing the Cost of Office Space in Washington DC

Posted on May 22nd, 2024

A daytime view over the water of Potomac River's tidal basin towards the Washington Monument obelisk in the distance. Pink cherry blossoms in full bloom line the basin. Image at Offices.net.

Washington DC is one of the largest US office space markets by square footage, which means local businesses are never short of options when it comes to finding a suitable office unit in the nation’s capital. For anyone interested in setting up an office or relocating to the city, we have created an overview of the costs involved in doing so.

The business environment in Washington DC

Washington DC has a thriving business ecosystem boasting excellent tech infrastructure, unparalleled access by road, sea, railway, and air, with three major airports, and office space options that can accommodate anything from large headquarters to micro-enterprises.

In addition, local companies enjoy access to a highly educated workforce, the presence of influential industry players in various industries, and several incentives to lessen the financial impact of running a business in the city.

Read More »

Commercial Real Estate Depreciation – How Does It Work?

Posted on May 17th, 2024

A close-up view of an hourglass with red sand flowing down. The hourglass is resting on a newspaper. Image at Offices.net.

In the intricate world of commercial real estate, few topics can be as consequential—yet often misunderstood—as depreciation. At its core, depreciation represents the gradual wear and tear of a property, reflecting its diminishing value over time. While this concept might seem straightforward, its implications ripple throughout various aspects of the industry, impacting not just the physical bricks and mortar, but the financial sheets and investment calculations of those involved.

For property owners, understanding depreciation is paramount. It influences their annual tax liability and shapes the long-term financial strategy behind their real estate holdings. Investors, on the other hand, often scrutinize depreciation schedules and methods to determine the potential returns of their ventures. As for lessees, while they might not directly deal with depreciation calculations, the underlying factors that cause depreciation can indirectly affect lease terms and rental rates.

This article delves into the nuances of commercial real estate depreciation, dissecting its mechanics and significance, especially within the context of the US market. Our goal is to shed light on this pivotal subject, equipping our readers with the knowledge to make informed decisions, whether they’re exploring new office spaces, considering an investment, or simply seeking to expand their understanding of commercial real estate dynamics in the USA.

Read More »

NYC Office Space Rental: A Cost Analysis

Posted on May 10th, 2024

An elevated view across New York City during the daytime, the Empire State Building rises out of the center of the sea of buildings with a cloud-strewn blue sky above. Image at Offices.net.

As one of the world’s leading business locations, New York City attracts office-based businesses with a wide range of requirements and budgets. In this article, we offer an in-depth analysis of the costs associated with renting office space in the Big Apple, so you can make the best decision when establishing your business footprint in the city.

Understanding the factors that influence office space costs

The cost of leasing office space in New York City‘s office market is influenced by a number of factors, including:

– Location: Although Manhattan still tops the list in terms of prestige, other areas fare better for ease of commute, as is the case of Brooklyn, and their popularity is reflected in rising prices when compared to the rest of the New York office space stock. 

Read More »

Cost of Office Space in San Francisco vs LA Office Rental Prices

Posted on April 22nd, 2024

Comparing Office Space Costs: LA vs. San Francisco

Los Angeles and San Francisco are home to some of the largest and most dynamic office space markets on the US West Coast. However, there are important differences in the costs involved in setting up an office in these locations. In this article, we offer a comparative cost analysis of office lease costs between Los Angeles and San Francisco.

Los Angeles: The US creative capital

Being the nation’s creative capital, Los Angeles is a magnet for businesses looking for office space to carry out media, entertainment, design, and advertising activities.

In 2023, the city’s creative industries contributed nearly 15% of the state’s total economic output.

The majority of these businesses are located in downtown LA but also in exclusive hillside and waterfront locations, such as Hollywood, Silicon Beach, the Arts District, Playa Vista, and Burbank.
Read More »

Mixed-Use Commercial Property: What You Need to Know

Posted on September 17th, 2023

hudson yards new york city

Mixed-use property refers to a type of development that combines elements of residential, commercial, cultural, institutional, or entertainment-based property into a single, cohesive unit. These properties are designed to foster a closer integration of different aspects of daily life, promoting convenience, and efficiency. By bringing together various functionalities, such as living spaces, office areas, retail, and entertainment venues, mixed-use properties embody a modern, holistic approach to urban planning.

The importance of mixed-use properties in the contemporary urban landscape cannot be understated. In the context of the United States, these developments serve as catalysts for community revitalization, facilitating social interaction, reducing commute times, and contributing to a more sustainable way of living. Economically, they also often provide property owners with an attractive investment opportunity with potentially higher returns, due to the diversified revenue streams they offer.

At the intersection of this modern real estate trend, Offices.net plays a vital role in connecting businesses and individuals with the perfect mixed-use commercial spaces. With a comprehensive listing of executive office suites, shared workspaces, flexible office spaces, and more, Offices.net makes the process of finding and moving into mixed-use commercial properties in the United States as straightforward as possible. Whether you are looking for a fully equipped, turn-key small office rental or a creative shared space, Offices.net’s free search tools can help you navigate through the options available online. Read More »

8 Benefits of In-Person Meetings: Meeting in Person vs Online

Posted on September 5th, 2023

A young woman holding a tablet backlit by sunlight coming through a window confidently addresses her colleagues sitting around her at a table with laptops open in front of them or with notepads and pens for taking notes. Image at Offices.net.

Meetings are an essential aspect of corporate culture. It’s estimated that the average office worker in the US spends a third of their time in meetings, and the figures are even higher for executives and senior staff.

The widespread adoption of online communication tools has transformed the way meetings take place, prompting a debate between the merits of in-person and virtual meetings. In this article, we examine the pros and cons of in-person vs. online meetings and discuss why face-to-face interactions continue to have value.

Online meetings: Pros and Cons

In a relatively short period of time, virtual meetings have become the norm in most office-based companies. Data from 2022 shows that in just two years, the amount of time spent in virtual meetings had increased from 14 hours per week to more than 21 hours per week, matching or even exceeding the time spent in face-to-face meetings. There are several advantages and disadvantages to this virtual meeting format.

Read More »

Remote Work Statistics: How Different Generations Feel About Working Remotely

Posted on August 21st, 2023

man sitting on couch with laptop

The rise of remote work has not only revolutionized the way businesses operate, but it has also had a profound impact on the lives of employees across the United States. Allowing workers to step out of traditional office settings, remote work has opened new horizons for achieving a better work-life balance. It has provided new opportunities for collaboration, efficiency, and productivity, regardless of physical location. However, with this transformation has come a wide spectrum of reactions and adaptations, driven in part by the generation to which workers belong.

Different generations have unique and diverse perspectives on remote work arrangements. The attitudes towards telecommuting and the challenges and benefits it presents vary widely between Baby Boomers, Millennials, and Gen Z workers. These differences aren’t merely superficial; they touch on deep-seated values, technological comfort levels, expectations, and the very definition of work itself.

Baby Boomers, who witnessed the advent of personal computing and the internet, have seen work evolve dramatically over the years, from strictly in-office to increasingly flexible arrangements. Millennials, often juggling multiple responsibilities and valuing work-life balance, see remote work as a tool for managing the complex interplay between their professional and personal lives. Meanwhile, Gen Z, the first generation to grow up fully immersed in a digital world, views doing work remotely as a natural extension of their connected lives, whilst also grappling with new challenges related to professional development and social integration.

These diverse perspectives can’t be understood in isolation. They must be seen in the context of rapid technological advancement, the job market, changing cultural norms, economic pressures, and evolving organizational structures. The impact of remote work is multifaceted, affecting everything from daily routines and communication preferences to career development and long-term job satisfaction.

Read More »

A New Corporate Vision: How Millennials and Gen Z are Championing CSR and Sustainability

Posted on July 10th, 2023

Millennials and Gen Z professionals are now the largest demographic in the world of work, so it goes without saying that their views and expectations will have an impact on different corporate practices. Among these practices are issues of corporate social responsibility (CSR) and environmental sustainability, two of the hottest topics in the 21st century business world.

In this article, we will look at how both Millennial & Gen Z professionals are shaping corporate social responsibility and sustainability practices in office-based workplaces across the United States.

Seven Ways Millennials & Gen Z are Shaping CSR and Sustainability Practices

Purpose-Driven Workplaces

One of the things that characterizes the new generation of professionals is their understanding of the workplace as more than just “a place to work”. Although financial considerations still matter, Millennials and Gen Z workers expect more than just a paycheck: they want their work to have a purpose

For this generation, being purposeful at work equals success, matching or even in some cases exceeding the feeling of satisfaction that comes from financial gain. In fact, many Millennials would be willing to take a pay cut if their work resonates with their values. 

Read More »