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A recent study by Newmark Grubb Knight Frank details the returns of trophy office space in terms of employee productivity. Here are the report's key points:
Savings achieved by office space densification are often canceled out by cost increases from declining productivity.
The cost of a boost in the quality of a work environment in the form of location, LEED certification, added amenities, or appealing common areas can be offset by the resulting productivity jump.
In San Francisco, the additional cost of trophy office space is recouped by a 4% increase in employee productivity. In eight out of 10 metropolitan areas surveyed, it took a 3% increase in productivity to offset the same costs.
Best-in-class owners should emphasize the proven effects of high-end office space on employee output when marketing.
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