Building Operations is thrilled to welcome you to our monthly newsletter, where we bring you the latest updates and insights in the world of project management.
Our mission is to provide you with valuable information, trends, and best practices that empower you to optimize building performance, enhance sustainability, and streamline operations. From innovative technologies to sustainable practices, we’ll cover it all to keep you at the forefront of the industry.
New Project Spotlight
Building Operations is currently fitting out this commercial office suite for Ameriprise Financial at 10 City Square. After carefully designing this space to maximize the floor plan for the growing Ameriprise team, we are excited to begin the construction phase of this project. All of the framing and floor layouts have been completed, and now we are onto the rough MEP work. Looking forward to seeing the finished product in this beautiful location!
Industry Insights
The recent insights from the BOMA International Conference & Expo highlight the transformative role of technology in property management. Artificial Intelligence (AI) and Machine Learning (ML) are pivotal, going beyond data collection to provide actionable insights. Property managers can streamline operations, enhance efficiency, and contribute to decarbonization and sustainability goals. In the digital age of remote work, technology is crucial for fostering efficient communication through dedicated apps and tech-driven work order tracking, ensuring a seamless, secure, and welcoming tenant experience. Mobile connectivity acts as the glue, enabling real-time updates, emergency notifications, and personalized services, enhancing operational efficiency and fostering a sense of community within the building.
Embracing these technological advancements is not just a strategic choice but a fundamental shift in defining the future of property management—a time where innovation not only optimizes operations, but also creates a connected and thriving community within our buildings.
The Evolution of Lab and Office Spaces
Innovative designs are causing the boundaries between laboratory and office spaces to evolve. One Charles Park in Cambridge, Massachusetts, is a prime example of this, as the traditional separation of labs from offices is being replaced by a blended approach. Transparency and spontaneous collaboration between research and business functions are being encouraged by using glass walls instead of solid materials. Despite a cooling life sciences market, real estate developments for biotech companies remain active. For instance, Science Square in Atlanta and the Hyde Park Labs building in Chicago are integrating lab and office spaces. The trend towards integrated designs showcases lab work for early-stage life sciences companies seeking funding. While this approach incurs additional development costs, industry leaders recognize the value of fostering collaboration and interconnection within their organizations.
How the Pandemic Accelerates the Fusion of Healthcare and Wellness Worldwide
According to the Global Wellness Institute, the global wellness market has reached $5.6 trillion in 2022 and is expected to grow to $8.5 trillion by 2027. The market is dominated by personal care, healthy eating, and physical activity, with North America leading the way in terms of regional revenue. The convergence of wellness and healthcare has been accelerated by the pandemic, blurring the lines between the two. In the United States, medical procedures are now being offered in wellness resorts, and wellness is being integrated into post-surgery care. While some categories, like workplace wellness and spas are lagging in recovery, the institute predicts an 8.6% annual growth in the wellness economy, reflecting a global shift towards prevention and wellness.