Not All Millennials Want Open Offices

Steve Bay

The trend toward creative office concepts—even for non-creative industries—is leaving traditional companies wondering how to adapt. While the real estate narrative assets that all millennials want open floorplans and amenitized office space, that isn’t true for all millennials. Steve Bay, vice chairman at CBRE, recently sat in on a class of law students discussing whether they wanted a large corner office or an open format. One student said it was more accurate to ask: Would you rather work at a traditional firm or in the legal department at a tech firm? A tech firm’s legal department is going to be more open plan. The question is hard to answer, and only time will tell. For law firms signing 10 to 15 year leases, however, need an answer sooner than later.

“By 2030, 75% of the work force will be millennials. The composition of their workforce is going to change dramatically over the next 10 to 15 years. So, they are trying to figure out what to do,” Bay tells GlobeSt.com. “Do they build private offices when by 2025 the space may be obsolete, or do they build private offices in anticipation and risk losing lawyers today that haven’t adjusted to the new workspace. It is a difficult decisions when to make a mistake can potentially be fatal. They err on the side of being conservative and really adhering to what is traditional.”