Tag Archive for: outdoor space

8218901 - cranes on building site in panoramic image

The COVID-19 pandemic has forcedĀ the South Florida real estate industry to rethink the answers to a range of questions, including how buildings are designed, how goods are delivered, and where and howĀ tenantsĀ want to live.

Here are the top 3 emerging trends local industry leaders are watching.

1. Outdoor Space Is Desirable

Retail stores and restaurants took a big hit as shutdowns, restrictions and health concerns changed consumerā€™s spending habits. Instead of going out to eat, people stocked up on food and avoided in-personĀ shopping, causing a surge in online sales.

Jonathan Carter, executive managing director at Colliers International, says there are a number of deals being done to adapt current spaces to modern environments. And while outdoor environments and open-air concepts in retail stores and restaurants were trending before the pandemic, now thereā€™s a bigger emphasis on it.

ā€œIf you had told me in August where we would be today, I wouldnā€™t have believed you,ā€ Carter said. ā€œThe market has gone from having almost no tenants, to what he would now consider a landlordā€™s market. Landlords who previously had space with a lot of outdoor areas that werenā€™t perfect, suddenly those spaces are in demand.ā€

2. Drive-Thru Operators Are Thriving

Last year, the rise in demand for food deliveries, curbside pickup and drive-thrus at quick-service restaurants has been especially prevalent in South Florida, according to Zach Winkler, executive vice president of JLLā€™s South Florida retail brokerage.

ā€œThe demand for more drive-thrus is probably more intense here than any part of the country,ā€ Winkler said. ā€œI think itā€™s part of the way the restaurant world has shifted a little bit.ā€

Winkler said sales have remained strong for fast-food restaurants like Louisiana-based Raising Caneā€™s, and he expects toĀ see an expansion of the chain in South Florida.

ā€œTheir sales remained very strong during COVID, and the fact that theyā€™re one of the most efficient drive-thru operators out there,ā€ Winkler said.

3. Offices Are Morphing

As large amounts of people continue to migrate to South Florida and many others prepareĀ to return to the office after a year ofĀ working from home, companies are looking at different models for remote and in-office workers. With socialĀ distancing changing the way people interact with one another, employers want to give their employees more space and a healthy environment.

Jonathan Kingsley specializes in office and industrial representation of landlords at Colliers International, and he said returning workers are typically getting more square feet per person, whileĀ offices are being redesigned.

Remote workĀ is here to stay, but Kingsley feels it wonā€™t be on the scale everyone thought it would.

ā€œCertain employees are absolutely required to work in the office 100% of the time,ā€ said Kingsley, ā€œThereā€™s a second-tier in which there is a three-day at the office, two-day at-home model, three-day at home, and two at the office, and then there is another model where you work from home 100% of the time.ā€

Click here to for the remaining emerging trends.