Space utilization has taken on immediate importance for tenants and landlords during COVID-19. In “Space Utilization and the Built Environment,” published in the latest issue of Real Estate Issues by The Counselors of Real Estate, authors Tomáš Ctibor, CRE, and Thomas Wootten, CRE, predict:
- In place of old retail formats, designs will center on walkability and integration of uses, enabling continued normalcy in case of subsequent lockdown orders. Intentional design will combine social connectedness with physical distancing and integrate residential, office, retail, and public spaces in a way that resembles the design of older European cities.
- Suburban office blocks will experience reinvestment they haven’t seen for many years.
- The focus on mechanical systems will result in redesign and rebuilding projects to improve air quality and reduce transmission of airborne particulates.
- The public’s growing comfort with online grocery shopping will reduce the need for large-format grocery stores, as consumers turn to smaller specialized markets and make direct connections with food producers.