When COVID-19 made its debut earlier this year, no one was sure of the lasting impact on our daily lives. One thing that has impacted everyone is a significant change in the way we use our space. What was once a dining room table is now a school desk, what was once a living room is now a call center, the garage is now a home gym, and the list goes on. But that list doesn’t stop at home. Real estate across the board is being repurposed and re-branded to suit new customer needs and the changing societal environment.
Need for a different type of space
Recently, fewer people need office space and traditional retail space. Instead, the need for industrial space has skyrocketed. According to GlobeSt.com, the high demand for e-commerce projects has caused the increased need for such spaces “The need for industrial space stays high, with 329 million square feet of industrial projects under construction at the end of this quarter. Companies such as Amazon fared well as e-commerce growth accelerated. Amazon occupied more than 6 million square feet of industrial space in 2020, with additional plans to add capacity. ”
Changes in trends
The trendy new office space layout has been becoming “open concept” and “shared workspace” oriented. With COVID-19 precautions, that trend is seeing a fast downturn. Designated working spaces for employees and staff will help keep the virus spread to a minimum as people begin to return to the office to work. According to McKinsey & Company, “Public-health officials may increasingly amend building codes to limit the risk of future pandemics, potentially affecting standards for HVAC, square footage per person, and amount of enclosed space.”
E-Commerce and Amazon Fulfillment Partnerships
When a business partners with Amazon to help sell their product, they securely ship the goods to be stored at a fulfillment center, based on an agreement between Amazon and the Seller. The dramatic rise in e-commerce, especially in relation to COVID-19, has led to an incline in demand for Amazon’s transportation and warehouse storage facilities. This comes with many pros and cons for the Seller, one benefit being that their products become eligible on Amazon’s marketplace for free two-day shipping. This potential partnership for companies will cause a rise in need for warehouse spaces, and additionally, a shift in how businesses are using their current spaces.
How CDO Group is responding
CDO Group is compressing construction schedules across the country, allowing business owners to open their doors for operations as soon as possible. With COVID-19 already impacting nearly every business in the world, getting projects turned over swiftly is a top priority. Project managers at CDO Group are dedicated, going above and beyond what is required of them, ensuring that a project is completed with maximal efficiency. Whether it is a new construction project or renovations to fit with a shift in space use, CDO is here to help companies everywhere with their responses. Contact us about any renovations that could help your business shift into a new commerce era or enhance your current practices.
