MARKETPLACE (pg 26):
©2024 Real Estate Publishing Corporation August 2024 • VOL.24 NO.4
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Chicagoland property managers pivot to meet new demands
By Brandi Smith
Photo courtesy of Caton Commercial.
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roperty management in the Chicagoland area is evolving rapidly, influenced by the influx of Generation Z into the workforce and the ongoing presence of Millennials. This shift is reshaping office design and management, presenting both challenges and opportunities. “The influx of Gen Z into the workforce, along with Millennials, continues to reshape office design in Illinois and across the country,” said Amy Hall, COO of Caton Commercial. “This generation values flexibility, sustainability and technology integration, driving the demand for adaptable and eco-friendly workspaces.”
“Gen Z is the first generation that has always had the internet, and now, they demand seamless connectivity as they consume data, communicate via apps and move throughout spaces,” added Suzanne Hendrick, executive vice president of Xroads Real Estate Advisors, noting that property managers must adapt office spaces to meet their expectations for flexibility, sustainability and technology integration. “Landlords should rank Gen Z satisfaction as high as the ‘C-Suite’ or ‘decision makers.’” To cater to this generation’s preferences, new office buildouts are designed with a casual, collaborative vibe featuring technology-friendly amenities such as WIFI, remote
video conferencing capabilities and interactive building apps. “Building amenity areas are extremely important as tenants rely on them to attract and retain talent,” said Hendrick. Balancing the needs of different generations of tenants presents significant challenges for property managers as well. Hendrick stressed that delivering a quality office experience for various generations is always evolving, but all generations appreciate sustainability features and a focus PROPERTY MANAGEMENT (continued on page 10)