Office Space: The Next Frontier
InnerSpace
Don't just count people, make people count—go beyond occupancy with the next-gen of sensor-free space utilization data.
Though many concerns and challenges remain for the corporate real estate sector, there are signs that demand for office space may start to bounce back in the near future. Meanwhile, employees continue their resistance to RTO mandates and educational institutions are rethinking their long-term plans altogether. Through all this uncertainty, one thing remains clear – the need for accurate data to understand how we use space will be integral to effectively meeting the challenges to come.
A message from our CEO
I can't help but draw parallels between our work at InnerSpace and the Star Trek series' iconic phrase "Space: The Final Frontier". Our need for space (as in four walls and a roof) is second only to food on our hierarchy of needs. Despite this, I think maybe we have more hard data about the mysteries of the universe than we do about how we use our indoor spaces. Perhaps they are, in fact, the next frontier.?
In our conversations with various client teams, the discussion inevitably comes around to space. A department pushes for expansion, leadership grapples with constraints in Building A, and the facilities team cautions against overestimation. One consistent truth emerges from these discussions: data is the key to unlocking these complexities, providing a means to ground the debate in fact rather than opinion.?
What's become increasingly apparent to me is that the industry is coming to understand the limitations of a sensor-first approach; people counting alone barely scratches the surface of our spatial narrative. Occupancy data does offer valuable insight, but falls short of identifying cohorts, their trajectories, and future movements. Understanding the ebb and flow of groups within our spaces provides a deeper understanding, settling the office space debate once and for all.
Comprehensive utilization data allows us to chart unexplored territories and anticipate future trajectories into the frontier of our InnerSpace. How are you exploring your inner space??
JAMES WU FOUNDER AND CEO, INNERSPACE
IN THE NEWS
Number of Employers Planning to Lease More Space is Growing Robustly?
From MRI Market Insights Report, Dec 5, 2023
There are some positive signs that office leasing may be on the upswing. A recent survey by MRI Software and CoreNet Global of more than 1,300 global real estate occupiers reveals that a growing number of organizations plan to lease more space in the coming months. This roughly four-fold increase over three previous surveys (conducted by MRI and CoreNet in 2021 and 2022). This study is welcome news for the industry and could signal an even greater need for these organizations to understand how their current spaces are being used in order to make good decisions.
How The Flexible & Remote Work Debate Will Carry Into 2024
From Forbes, Jan 24, 2024
?“While 2024 might see little change in work-from-home levels, it will kickstart a revolution – one where working from home is 5x more common than 5 years ago in 2019.”
Office occupancy numbers will continue to rise in 2024, and workers may return in larger numbers, but the desire from employees to work from home remains staunch, suggesting the fight over RTO mandates is far from over. But as we’ve already seen, companies who invest in flexibility will see faster growth, higher customer and employee satisfaction, and stronger bottom-line performance.
领英推荐
2024 Commercial Real Estate Outlook: Finding terra firma?
From Deloitte Center for Financial Services, 2023 Insights Report
In a report from Deloitte released last year, many predictions were made about the trajectory of the real estate industry in 2024. From concerns around rising interest rates and the inflated cost of capital to worries about technology and cybersecurity, real estate owners and investors know they will face many challenges in trying to establish more efficient, sustainable businesses moving forward.
INNERSPACE INTERVIEW
Planning Your Campus For Tomorrow, Today
The pandemic, along with shifts in technology and demographic changes, have disrupted some of the longer-term plans educational institutions had for their campus space. InnerSpace’s Director of Client Services, Brennan Stang, has spent much time talking with post-secondary decision-makers about what they need to make useful spaces for the next generation of learners. Hear what he has to say about the importance of spatial intelligence data in designing a modern, agile campus.
Interested in seeing InnerSpace in Action?
Check out our upcoming webinars to find a live demo that fits your schedule, or watch a recording.