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.

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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.

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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.

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The use of color in an office space has a significant impact on the atmosphere of the workplace and on those that occupy it. The right combination of colors can enhance the overall design, improve the functionality of the space, and create a more positive and productive work environment. 

According to the Institute for Color Research, within 90 seconds of first viewing, people make a subconscious judgement about a space or a product, and between 62% and 90% of that evaluation is based only on color. Additionally, in a ground-breaking study, the University of Texas discovered that when presented with different colors, varying brain responses can affect employee productivity and attitude.

In this article, we will discuss the power of color in offices by delving into the evidence surrounding color psychology, and the impact lighting and materials have on color, and how this should combine to be applied to office design. So, after reading, office interior designers, occupiers and landlords should gain some insight into how to use color to enhance the overall design of spaces, and improve the functionality and productivity of the office environment.

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Office renovations can help create a more productive workplace and support a business’s branding strategy. However, these projects can have a significant impact on capital expenditure. Calculated per rentable square foot (RSF), fit-out and renovation costs went ranged from $90 to $220/RSF in 2019-20, depending on location, office size, cost of labor, and industry sector – since some businesses (such as tech companies) require fit-outs to higher and more costly specifications.

What follows is a breakdown of the costs involved in renovating an office in the United States. *

Construction Costs

These costs involve the removal, addition or alteration of physical elements in a building, office floor or office unit. Construction costs include materials and labor, as well as fees charged by contractors, and they serve as the biggest expense in fit-out projects – accounting for 50% to 70% of the total cost.

Average costs are $90/RSF. Depending on location, they can be as high as $139/RSF or as low as $54/RSF.

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The office can be a stressful place at times, particularly when deadlines are looming and clients are expecting results fast. These stresses can result in negativity, tension, anxiety, and an overwhelming sense of dread, feelings which can ultimately impact productivity and mental wellbeing. Companies across the globe have worked tirelessly to combat these workplace stresses, introducing comprehensive strategies to improve the wellbeing of their employees and cultivate a healthy working environment. Introducing pets into the workplace is one such plan that can, if implemented correctly, positively impact employees by improving morale, reducing stress, easing anxiety, and increasing job satisfaction.

Amazon is a prime example of a global company that has successfully introduced pets through their long-standing tradition of bringing dogs into their Seattle headquarters, a space which is now home to as many as 7,000 dogs on any given workday! The example set by large companies such as Amazon has inspired countless other businesses to adopt similar initiatives, resulting in pets becoming increasingly common in the workplace, particularly in millennial-driven organizations and  creative offices that encourage collaboration.

But what exactly do you need to know before introducing your furry friend to the workplace and what benefits or downsides can come from bringing your pet to work?

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There are several types of office space in the USA. These properties are classified according to their quality standards and amenities, using the classification system developed by the Building Owners and Managers Association. This system establishes three main types of office space: Class A, Class B, and Class C. Here are the defining features of each Class:

Class A Office Space

These properties are characterized as having the highest quality standards, amenities, and fixtures. Common features include top-tier HVAC and lighting systems, the latest telecommunications infrastructure, and often have unique design or architectural traits. Because of their high standards, Class A offices are typically (but not always) in new or trophy buildings with high-quality road and mass transit connections. Location also plays a role in Class A offices, as they are often located in sought-after areas such as Capitol Hill, Downtown Los Angeles, and The Loop in Chicago.

Class B Office Space

Class B properties are a middle-of-the-road option for office-based businesses. They are a step below Class A properties in terms of design, systems, and infrastructure, but they are still functional spaces that can accommodate a wide range of office operations. Depending on their location and potential, some Class B buildings are acquired by property management or investment firms and refurbished to Class A standards. Many of these offices are located in buildings that are between 10 and 20 years old.

Class C Office Space

Class C offices are typically located in older buildings (20 years+) outside of the CBD or other highly sought-after business areas. These properties may have outdated infrastructure, fixtures, and amenities, with some requiring partial renovation.

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Appetizer-Only Party
Similar to a Holiday Party where folks bring festive cookies or a main dish for the potluck, you can hold an appetizer-only potluck. Simply invite people to bring their favorite holiday appetizer. The office can provide soft drinks, bottled water or coffee. Of course, cookies are allowed and always welcomed! But mostly, this is an appetizer-only party simply to try something new for the holidays. Don’t forget the decorations!

Christmas Classic Movie Marathon
For this type of office party, try a Christmas Classic Movie Marathon. Mix it up with a few movies from different decades like Christmas Vacation, A Christmas Story, Elf, White Christmas, Ernest Saves Christmas or Four Christmases. Provide a place with a viewing screen so folks can pop in and out while they’re working, and if possible, provide popcorn and other snacks, or have a potluck. If a work day party is not possible, try to schedule something off work hours at someone’s house. The point is to have fun.

Pet Holiday Photo Contest
Because cats, dogs, bunnies and other pets look adorable dressed as Santa, angels, elves, reindeer and the like, why not throw a party with a contest for folks who share photos of their beloved family pets dressed in holiday getups? Imagine a bunch of grown ups gathering to show off their puppies and kitties? If you’re so inclined, you could set up a screen in a viewing room so people can vote live from Facebook or Flickr. The prizes can be very simple, like cat toys or a dog bone or gift certificates. Read the rest of this entry »

Working too much has the potential to give a person unnecessary anxiety and stress. If you never take time for yourself on the weekends, you run the risk of depression, weight gain, anxiety and even a heart attack. Many industries are beginning to recognize the importance of promoting work-free weekends. A recently published Slate article indicated that even the investment banking industry has instituted work-free weekends for employees due to the manner in which they promote a worker’s health and productivity.

Promoting Productivity in the Office

Those who continuously work and fail to take time off of work are likely to suffer from burn out from their jobs. A two-day weekend gives a worker the chance to get away from his or her office responsibilities and recharge the batteries. After spending a weekend away from work, an employee can feel renewed and refreshed on Monday morning. An employee is able to focus on the task at hand and has increased levels of concentration.

Getting the Exercise You Need

The weekend gives many employees the opportunity to get in a good workout. During the week, some workers may find that it is nearly impossible to get to the gym. The weekend provides an employee with an uninterrupted period of time in which he or she can work out for hours at a time. Those who have to sit for extended periods of time may find that the weekend provides a welcome break from sedentary habits. Sitting for extended periods of time has been linked to serious health issues like heart attacks, death and cancer. Read the rest of this entry »

No one wants to just tread water for their entire career. Doing “just enough” to get by at work doesn’t just hurt your career, it hurts you personally. After all, the amount of money you make can directly influence your quality of life. If you are unwilling to put in the work it takes to get ahead, then you can more or less expect to be unsuccessful forever.