AT
AT EXPLOSIVE GROWTH IN CENTRAL TEXAS...
AND EVEN THROUGH THE PANDEMIC--
OFFICES SPACE -- HAS BEEN A HOT COMMODITY IN AUSTIN.
HERE'S KVUE'S HANK CAVAGNARO.
NATS
NATS
NATS AT
NATS AT THIS POINT IT MIGHT BE A SIGHT YOU'RE NOT THAT USED
TO...
NATS
TO... NATS BUT IT'S SOMETHING BUSINESS ARE
STARTING TO
GET BACK TO...
"YOU KNOW THAT MEETING IN PERSON
EXPERIENCE
CAN BE REALLY POWERFUL FOR A
COMPANY EVEN WHEN
YOU'RE JUST REMOTE..."
THIS IS SCOTT FRANCIS... HE'S
THE OWNER OF BP 3... A
CONSULTING COMPANY THAT LAST
YEAR MADE THE DECISCION
TO LEAVE THEIR ORIGINAL OFFICE
SPACE...
"AFTER SITTING WITH THAT FOR 6
MONTHS OR SO WE STARTED
THINKING ABOUT WHAT DO WE DO
NEXT YEAR... OUR LEASE WAS
UP... DO WE WANT TO CONTINUE DO
WE WANT TO
SHRINK OUR OFFICE SPACE DO WE
WANT TO LET GO OF THE
OFFICE SPACE..."
LEADING THEM TO RED VELVET
EVENTS... "WE WERE SHOPPING FOR
NEW NEIGHBORS...
NEW ROOMMATES AND HIS HAPPENED
OT
BE COMING UP AND HE SAID...
WAIT... SHOULDN'T I
THROW OUR NAME INTO THE MIX..."
"WE HAVE SOME UNFAIR ADVANTAGES
IN THAT WE DID
SOME COMPANY EVENTS HERE..."
"AND THAT REAL UNFAIR
ADVANTAGE IS MY WIFE OWNS THE
BUILDING FOR HER
COMPANIES PERMANENT HOME..." A
CHANCE FOR BOTH OF THEIR
COMPANIES TO THRIVE... AND
TRY SOMETHING NEW
"MAYBE THE EXTRA WRINKLE IS AS
WE COME BACK WE WON'T
HAVE A DEDICATED DESK FOR EVERY
PERSON
BUT ON ANY GIVEN DAY THEY CAN
FIND A CHAIR AND A
DESK... AND A PLACE TO WORK..."
NATS
BUT WHAT ABOUT THE REST OF
AUSTIN... WITH PLENTY OF
CONSTRUCTION COMING UP... WHAT
HAPPENS TO THE OFFICE
SPACES THAT ONCE WERE FILLED BUT
NOW SIT EMPTY...
"OFFICE SPACE HAS HELD STEADY...
IT HASN'T
DECLINED REALLY... IT'S HELD
STEADY IN SOME SUB
MARKETS AND RISEN IN OTHER SUB
MARKETS..."
THIS IS ALAN PETERS... HE'S A
REAL ESTATE AGENT THAT
HELPS TENNANTS FIND OFFICE
SPACE...
"I'D SAY OVER THE LAST COUPLE OF
MONTHS WITH
THE SUCCESS OF THE
VACCINATIONS... THERE'S
DEFINITELY A LOT OF MOMENTUM TO
GET BACK INTO
THE OFFICE..."
BACK INTO THE OFFICE... EVEN
THOUGH CURRENTLY
THERE'S 53% MORE AVALIABLE
OFFICE SPACES COMPARED TO
18 MONTHS AGO...
PETERS SAYS THAT IS MOSTLY DUE
TO NEW CONSTRUCTION
AND DOWNSIZING... HE DOESN'T
EXPECT THE
WORK FROM HOME MODEL TO BE HERE
FOREVER...
"ALL OF THESE CORPORATE
RELOCATIONS TO AUSTIN THEY
AREN'T COMING HERE WITH THE
EXPECATIONS THAT PEOPLE
ARE WORKING FROM HOME... THEY
WANT TO HAVE AN OFFICE
FOR THEM SO THEY CAN RECRUIT...
RETAIN... TRAIN...
HAVE HIGH PERFORMING TEAMS..."
"MOST OF THE TENNANTS HERE HAVE
ANNOUNCED
THEY'RE GONNA HAVE THEIR
EMPLOYEE'S COME BACK TO
THE OFFICE IN SEPTEMBER..."
"EVERYBODY WANT'S TO HAVE THEIR
FOLKS COME BACK TO
THE OFFICE BUT THEY DON'T
EXACTLY KNOW HOW IT'S GONNA
WORK SO THEY'RE TRYING TO
HEDGE..."
DAVID PUTMAN IS A PRINICPAL AT
AQUILA COMMERCIAL...
THEY FILL THIS BUILDING... 7700
PARMER... A BUILDING THAT
CAN HOLD UP TO 5,500 PEOPLE...
BUT IS EMPTY RIGHT NOW...
"YEA THIS CAFE IS 550 SEATS...
YOU KNOW IT'S SET UP TO FEED
A LOT OF PEOPLE"
EVEN THOUGH IT'S EMPTY... EVERY
OFFICE IS LEASED...
PUTMAN SAYS HE SEES SOME CHANGES
COMING... BUT
THE OFFICE WILL STILL BE A PART
OF ANY COMPANY...
"I THINK THE DAYS OF EVERYONE
HAVING THEIR
OWN OFFICE AND NOT BEING THERE
ARE PROBABLY
GONNA BE BEHIND US FOR THE TIME
BEING..."
THAT'S EXACTLY WHAT DELL HAS
ANNOUNCED IT'S MOVING TO...
AFTER A YEAR OF IT'S ROUND ROCK
CAMPUS SITTING EMPTY...
NATS
DELL HAS A RE-IMAGINED LOOK AT
IT'S WORKPLACE
MOVING FORWARD... INCLUDING
ONLINE
RESERVATIONS FOR WORK SPACES...
A TRUE-HYBRID
MODEL THAT BRINGS PEOPLE IN AND
OUT OF THE OFFICE...
SOMETHING PUTMAN EXPECTS TO SEE
OTHER
COMPANIES FOLLOW...
"WE EXPECT... AGAIN... HOW
THEY'RE GONNA USE IT IS
EVOLVING..."
"THESE TECH COMAPNIES WOULD
SCALE UP AND DOWN
BY HAVING INCREASED DENSITY...
GOING
FORWARD WE DON'T EXPECT TO SEE
AS MUCH DENSITY..."
NATS
A SIMILAR MODEL TO WHAT FRANCIS'
BP3 DOES...
"YOU KNOW SHOULD I BE FULLY
REMOTE... OR FULLY IN THE
OFFICE? I THINK THERE'S SOME
REALLY GOOD HYBRID
SOLUTIONS... TO GET A SMALLER
SPACE OR SHARED SPACE
THAT YOU'RE ONLY PAYING SOME OF
THE RENT FOR AND
SHARING WITH ANOTHER COMPANY
BECAUSE IF YOU
DON'T NEED THE SPACE ALL THE
TIME... THAT'S AWESOME AND
IT'S AN OPPORTUNITY TO SAVE SOME
MONEY..."
SAVING MONEY... AND GETTING USED
TO BEING BACK
IN THE OFFICE...
IN AUSTIN I'M HANK CAVAGNARO...
GETTING USED TO BEING BACK IN
THE OFFICE... IN AUSTIN I'M HANK
CAVAGNARO...
CAVAGNARO...