Western Real Estate Business

MAY 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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www.REBusinessOnline.com Western Real Estate Business • May 2018 • 49 Biotechnology company Lumencor recently modernized its dated headquarters in Beaverton, Ore., into a more traditional style. In addition to revamping its workstations, the space now features a large breakroom, several updated conference rooms and breakout areas. plan, complete with shared tables, con- ference rooms, comfortable couches and cozy reading nooks. With 100 percent bench-style desks and zero private offices, progressive style offices can fit 20 percent to 50 percent more employees than a tra- ditional office, while doubling the conference and collaboration spaces. Having large amounts of collabora- tion space can lead to more innova- tion in the workplace. Plus, progres- sive-styles offices tend to cost about $152 per square foot, compared to the average $177-per-square-foot cost for a traditional office. Lyft's office in Seattle provides the perfect example of a progressive office space and how custom tailoring the office design to a brand and its needs were critical to happy employees. Ev- eryone has a "home" in the new Lyft space, but they're encouraged to work wherever they want on any given day. If they need a change of environment, they also have the option of working from a conference room, huddle room, café or any of the several spots spread throughout the office. 2. Moderate Average cost to build: $158.23 psf A moderate office style falls some- where between an open floor plan and a traditional office layout. A moder- ate-style fit-out costs $158 per square foot on average when you balance out design and complexity. This falls be- tween the average of $152 per square foot for progressive styles and $177 per square foot for traditional. A moderate style tends to have an agile floor plan with 10 percent of the total square foot- age allotted to enclosed offices. The remaining 90 percent is dedicated to an open floor plan with workstations, minimal benching and guest space. DAT Solutions opted for a moderate office style when the trucking solutions company opened its new headquarters in Beaverton, Ore. DAT wanted a cool and creative vibe, while maintaining some private spaces. Taking on a more hybrid, moderate style, the company was able to achieve all of its ambitions and more. 3. Traditional Average cost to build: $177.06 psf A traditional office environment is generally recommended if the nature of a company's work primarily deals with confidential information and privacy is a necessity. Coming in at $177 per square foot on average, tradi- tional offices are more expensive than progressive ($152 per square foot) or moderate ($158 per square foot) office styles. They also have the highest pri- vate office density of all three styles, with 30 percent of the floor space dedi- cated to enclosed offices and 70 per- cent dedicated to an open floor plan built out with workspaces and high partitions. Although the majority of a traditional office space is tailored to private offices and worksta- tions, conference rooms and collaboration areas are still key. Law and financial services firms are some of the organizations that typically opt for a more traditional office style as they tend to be more private, conservative and refined in nature. Biotechnology company Lumencor recently modernized its dated headquarters in Beaverton, Ore., into a more traditional style. In addition to revamping its workstations, the space now features a large breakroom, several updated conference rooms and some breakout areas. n

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