Tenants don’t move into a downtown or Uptown office tower solely because it has a park across the street, a coffee shop in the lobby, and fine dining across the street. But those things play a role, says Pegasus Ablon VP of leasing Mike Silliman (right, with asset management VP Mark Roppolo). There’s a lot of variables, from parking to building quality to on-site amenities. Mike says the social dynamic of the neighborhood around PegasusAblon has helped diversify its tenant base at Ross Tower (500 N Akard), which Mike leases.
IBM was the first technology firm to lease space at Ross Tower, AvreaFoster was the first branding firm, and another lease was just inked with a creative firm coming from Uptown. Firms that are recruiting younger talent are looking for a walkable environment, Mike says. (We blame Zappos for this whole "everyone loves walking" mentality.)
By 2020, Millennials (teens to about age 29) will comprise more than one of three adult Americans. By 2025, they'll make up as much as 75% of the workforce. (By 2030, they'll be complaining about the plot integrity of Star Wars: Episode 19.)
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