Nobody cares about free parking unless they have a car. Nobody cares about having a 'big shiny building' as credibility often comes from having things like a solid product, or capital in the bank.
The 1960s are over. Nobody cares about your crappy office tower in the middle of nowhere. The ones that did are retired.
I think a lot of people would rather work in a busy, noisy coffee shop than commute to or live in the suburbs to enjoy lots of cheap office space.
The entire social structure that produced these towers, a well-paid, conservative, culturally unambitious middle class, is imploding.
Now you have Millenials who value living and working closer to interesting coffee shops, restaurants, clubs, and bars than living in Nowhereville which has a Denny's, a Subway and a Dunkin Donuts as the only options. Plus they're so deep in student debt that buying a suburban house or leasing a car is not an option. They're stuck living in a cheap apartment that's typically in an urban area and living a more thrifty lifestyle. What little money they have goes towards entertainment and social activities.
I'd rather work in a condemned office in the right location than some suburban hellhole where I had to drive a minimum of a half hour to and from work. At least the office in the right location could be renovated and spruced up. The suburban office will always be in the wrong spot.
I'm not disagreeing with you, but being able to work in a noisy coffee shop is an entitlement that not all are able to
This is only possible for "knowledge workers".
- You can't do this, for example, if you're a doctor/nurse
- You can't do this if your job has a high level of secrecy required (that is, no peering eyes)
- You can't do that if you require special equipment to do your job (think lab or shop). You can't take your big screen Mac with your fancy Wacom tablet there as well
Also most work requires a collaboration level that's still not supported by infrastructure. It is possible but the companies haven't adapted
Oh, it does, but those traditional jobs, doctor, factory worker, they're harder and harder to get. The bulk of the jobs are less dependent on those factors.
What's left? The sorts of jobs where a personal office is a luxury that few companies are willing to pay for. You get a desk, at best, and a laptop.
Still, as difficult as it is to purchase office space in some markets, it's not impossible. You just need to make do with less. No on-site parking, no gigantic health-club facility or cafeteria.
Now you have Millenials who value living and working closer to interesting coffee shops, restaurants, clubs, and bars than living in Nowhereville which has a Denny's, a Subway and a Dunkin Donuts as the only options.
It's cyclical. One day (sooner than you think)those millennials are going to be 30, with families and they won't care nearly so much about clubs and bars. They're going to start wanting to grow gardens and have a safe place for their children to play.
Plus they're so deep in student debt that buying a suburban house or leasing a car is not an option.
I guess that it's just a function of the local real estate market but my suburban mortgage payment is lower than the urban rent that one would pay in any decent part of this town.
The suburban office will always be in the wrong spot.
Don't be so sure about that. One day, you're not going to be the hip youngster anymore. One day, sooner than you think, you're going to be annoyed by the stupid nonsense that the kids of the day are doing. One day, you'll have a lot more fun in your house than out on the town.
The 1960s are over. Nobody cares about your crappy office tower in the middle of nowhere. The ones that did are retired.