TORONTO — Altus Group has launched a new program designed to help businesses plan for decisions on how they want to return to the office or reduce the size of their office space post-pandemic.
The program, billed as Office Fit-out Project Management Services, provides a calculator and guide to help businesses that are looking to lease a new office space and want to ensure they are evaluating options based on full costs, and not just the lease rate. It’s also for firms that have already secured a lease for an office space and need to get started on the fit-out, or that already occupy an office space and would like to get started on a renovation, stated a Feb. 1 release.
Office fit-out services include budgeting, project management, cost estimating, scheduling, lease comparison and scenario analysis.
Overall office leasing activity was down last year, from 7.2 million square feet in 2019 to 4.2 million square feet in 2020. Recent studies show the lack of interaction among employees has also impacted workers with a decrease in productivity.
Companies such as Amazon, Shopify, Google and Facebook have leased more space, accounting for the need for social distancing and the anticipated continued growth in workforce.
Financial services and tech companies dominated activity with 1.2 million square feet and 1.1 million square feet, respectfully, representing over 50 per cent of the office leasing activity in 2020.
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