Stamford Office Space Market More Upbeat In 2014

stamford-advocateDue to the physical and financial burden of commuting/driving to the office, you have probably considered working from home. However, your living room is simply a far too busy place, between your kids requesting another glass of juice and your mom calling to remind you of your doctor’s appointment; and taking your work to a local coffee shop would break your budget in $4 lattes and internet access costs.

There is a more effective approach to do your job. A large number of firms across the nation are taking advantage of more adaptable working conditions. Cutting down on travel distance will make people less stressed and more productive. A virtual Connecticut office space helps you do all this and gives you the benefits of a physical address at the same time.

In Stamford and the surrounding areas, however, there is great optimism in the real estate market, showing that physical spaces are still good investments:

Fagan is more upbeat about 2014, believing that an improving economy will result in more interest in the region’s office real estate.

“We believe that the vacancy rate will decline significantly over the next 24 months,” he said. “Furthermore, history would suggest that there will be at least one major corporate relocation into the market given the wonderful opportunities that we have waiting. It’s a bit of `Field of Dreams’ … We have built (and rebuilt) the product, the corporations will come.”

Much of the region’s office building inventory was built in the 1970s and 1980s, and some of that property is obsolete, requiring owners to re-think the future of their buildings. Because of their condition and their distance from transportation centers, many of those buildings are under-utilized, and some could be converted into other uses in 2014, according to Fagan.

More prospects for office spaces in the greater part of Connecticut will increase substantially this year. As a response to the growing need, Connecticut Business Centers supports many working professionals and businesspeople by providing office space in Westport, CT and Stamford in many different types. With our team, your company can have access to the facilities you require along with enjoying greater visibility without being stuck in one location.

(Article Excerpt and Image from Stamford Advocate, “Area brokers tepid about office market in 2014”; January 3, 2014)