Office space patterns in the Chicago suburbs suggest two trends at work: companies occupying fewer square feet but wanting to have higher-quality square footage.

The moves reflect an overall trend of tenants looking for higher-quality properties with financial stability, said Savills Regional Research Director Anders Klein…

Throughout 2023, trends saw office tenants move from larger spaces in older and more bare-bones Class B and C office properties to smaller spaces in well-maintained Class A buildings with more amenities.

Several thoughts about this:

1. It would be interesting to see how much less companies pay for office space if this is the trade-off.
2. Having a nicer location and more amenities on-site might also help companies make the pitch to have employees in the office.
3. What are the new trends for nice office spaces? We have had a few decades now of gyms, meals, on-site services, etc.
4. What happens to the less desirable office space? The article suggests some is converted to other uses, like for data centers. other properties might be redeveloped for housing or mixed-use projects.
5. Could these opposing trends mean office space will look significantly different in the United States in a few decades or will offices still be the offices we know today?