LOS ANGELES, CA--(Marketwired - May 9, 2013) - According to real estate investment professional C. Frederick Wehba, commercial real estate needs tend to differ from one regional market to the next -- and it is critical for investors and developers alike to realize this. To prove his point, Wehba points to a recent article from the Silicon Valley Business Journal. The article lists six factors currently shaping the Silicon Valley technology industry -- and thus, Silicon Valley's commercial real estate needs. Wehba has commented on the article in a new statement to the press.
The first point made in the article is that office space is ever in flux, nowhere more so than within the technology sector. The article notes that, in many new office buildings used by tech companies, the restrooms are extraordinarily large, simply due to how many people inhabit a single floor; indeed, the tried-and-true rule of having three workers per 1,000 feet of office space no longer applies. "The bottom line, for developers, is that different industries are starting to utilize office space in different ways," offers Wehba, in his press statement.
The article also notes that, in high-population areas, companies like Google are seeking to minimize their environmental impact. "This is especially true when it comes to rush-hour commute times," Wehba says. "Companies are seeking to build office space in bike-friendly areas, and to implement their own mass transit fleets."
A potential problem that developers face is that, in some communities, office space is already so prevalent that citizens are concerned about further expansions. "Before investing in a particular neighborhood or community, it is in the investor or developer's best interest to do some research into just how hard it is going to be to erect any kind of new office development," says Wehba.
The article notes further Silicon Valley trends that are applicable to office developers nationwide -- namely, that more and more companies prefer single-floor buildings, and campuses where the different buildings are in very close proximity.
"The way people use office space is changing -- and that's true in all industries, not just among high-profile technology firms," concludes Wehba. "It is critical for those who work in commercial real estate to keep up with these office trends."
A key player at the Log Angeles firm Bentley Forbes, C. Frederick Wehba is a seasoned commercial real estate professional, who focuses on retail shopping, office, warehouse, and industrial developments, as well as multi-family residences.
C. Frederick Wehba is a commercial real estate investor, based in Los Angeles, California. Mr. Wehba is also a noted philanthropist and community activist; he currently sits on the boards of Cedars Sinai Med Center and the West Los Angeles Boy Scouts, and provides financial support for the Beverly Hills High School music program.
- Real Estate
- office space