Recently, Uber Technologies put over 120,000 square feet of its office space on the market. As more and more companies work from home, many companies have found themselves with a surplus of office space. In fact, experts proclaim that there’s surplus available of corporate real estate in Texas now, than the last ten years.
The Ideal Time To Get Commercial Real Estate In Texas
As a result of this trend, many local businesses have been capitalizing on the opportunity to obtain office space. The reason behind is simple concept of supply and demand. When the demand is higher than the supply, prices rise considerably. Alternatively, when the supply outweighs the demand, prices fall steeply. As such, local businesses in Texas can capitalize on this. Compared to recent market trends, they can secure better deals on office space now.
Besides the fact that right now is the best time to buy office space for prices which would never have been offered a year ago, working in an office setting offers advantages that can’t be gained from working remotely. While there are certainly some benefits, remote work can end up costing more productivity and other concerns in the long run. While it may be true that some companies are opting for remote work, other companies have ended their remote program. They were actually costing them more money.
There’s good reason to doubt that small businesses will benefit from making their employees work remotely. There are critical psychological advantages to working from an office. And there cons associated with working remotely.
Face-To-Face
It is common for another person to misinterpret what is said to them through text or over the phone, simply because they cannot analyze facial expressions. But, when people are face-to-face, consumers can capture the nuances of various facial expressions, body languages and gestures. This eliminates misinterpretation and raises the consumers trust in your products and services.
Distraction-Disengaged
Research studies have shown that remote workers are easily distracted and tend to check their mobile devices, social networks and personal emails up to 300% more times a day than they would at the office. As such, it is common for remote workers to be less engaged in a video meeting than they would be if they were in a room co-working with their peers. In fact, many teachers are also warning that the current model of remote learning is not as effective as thought. A college professor recently made headlines by saying her students never turn their Zoom cameras on, which makes it difficult as she is literally the only person on camera. From education to corporate America, increased distractions result in lower productivity.
Counterproductive Background
Statistics indicate that as many as 40% of remote workers are ready to go back to private corporate offices. A vast majority have proclaimed that they felt demotivated to sit in front of a computer screen all day. Some are simply in a situation where they experience an abundance of background noise and disturbances. As you know, an employee’s productivity is directly related to the level of happiness and motivation. In addition, potential clients can be turned off while trying to address a serious situation and get interrupted with background noise.
While 2020 has created some disruptions in the market, the volatility of corporate real estate in Texas commercial market provides opportunities for investors who are interested in acquiring or building new commercial real estate.
