The average vacancy rate for office buildings that include social and community spaces is only 7%, compared to 26% for traditional offices that lack such facilities, according to an analysis by a real estate consultancy firm.
According to Colliers consultants, functional spaces are seen as environments that support organisational culture, creativity and team collaboration.
'The success of projects in Bucharest that have prioritised community spaces has shown that such amenities make a real difference in terms of attractiveness and tenant retention, transforming office buildings from simple workplaces into true destinations for employees,' the source notes.
The Colliers analysis shows that buildings combining community spaces with direct access to the metro achieve the best performance, with a vacancy rate of only 7%.
By contrast, buildings that offer these types of areas but lack metro connectivity see their vacancy rate rise to 21%. Meanwhile, spaces without such facilities record a 14% vacancy rate if located near the metro, and up to 26% when both advantages are missing.
Colliers (NASDAQ, TSX: CIGI) is a global leader in real estate consultancy and investment management services, operating through three main platforms: Real Estate Services, Engineering Consultancy, and Investment Management.
The company reports annual revenues of nearly USD 5 billion, employs 24,000 professionals, and manages over USD 100 billion in assets.
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