I liked the video and presenters 👍. I am still unconvinced that this model works long-term though. Digital private/shared space is hard to beat (which we already get in an assortment of super affordable applications tried and tested through C-19 & and the users do not even have to leave home for most of the same amenities featured). Throw in a growing global workforce, and it becomes more and more clear. Money previously put into office space is getting harder and harder to justify year over year (even if its admittedly more efficient/cheaper/nicer than before).
Agreed - it’s going to change. But I don’t think that work from home will be the only option. Many employers want their team collaborating in the office, and online simply doesn’t replace that. On the opposite side, if employees start refusing to work from the office and employers have to deal with remote employees, what’s to keep them from hiring equally competent workers offshore for 1/4 to 1/5 of the price?
That's why I think salaries will go down and not up over time (in REAL dollars comparatively). I am in the offshoring business, and there really is almost no reason not to. Lots of people speak English around the world. Lots of people work very hard. It will balance closer over time in real dollars.
Be greedy when others are fearful. There are a lot of office owners out there that have nearly full vacancy that I would bet would be willing to try this.
They're going to have to try something! I definitely like it and think it will work. The whole key is that one word, "Flexible." Sky's the limit with that kind of creativity.@@TylerCauble
This concept is amazing. They have created an amazing concept on space flexibility and having multiple tenants to diversify risk. This would help so much in rebuilding the office space class.
Some people would use it's still advantageous to work from home. As an option great but for realization of technology advancements in communication I would not invest in office space.
Tyler, not sure what the Hype is about nothing new here, this is rebranding the Regus office model. Make it feel like a Campus environment and add adjustable walls which will allow you to expand without having to do construction. The big question is how do you attract employees back to an office environment so your absorption rates go up. Not sure this concept will check that box. I wish you would have asked them what their occupancy rate is, I bet they max out at 50%.
Right, that’s very different from the Regus office model. Have you ever been inside a Regus? VariSpace’s occupancy is high, I did talk to them about that. They just had a tenant move out of this location but before that it was essentially 100% occupied. The concept is doing really well, I wouldn’t have made this video if it wasn’t. Vari owns over 1m sf in the DFW area for this concept. And employees that don’t want to come back to the office will soon find themselves replaced at 1/4 to 1/5 of the cost with offshore talent. I have a feeling that a lot of companies will start exploring more cost effective solutions if they have to put up with remote work.
@@TylerCauble Mr Tyler, I was a little skeptical when they quoted you nearly 100% occupancy, so I went on Loopnet as of today they have 219,000 sq ft for rent so the monster campus is only 30% occupied. This does not feel like the office of the future with such a large vacancy. Time will tell what the demand will look like in the interim lucky they have a booming Furniture business which can help fund the expenses of operating that monster space.
It’s different because each of these tenants have their own private office spaces. At a true coworking space, tenants may have a small private area but the majority of the space is shared. Here, these tenants occupy 10,000+ sq ft and have shared amenities, so almost a hybrid of old office space and coworking.
The big money maker is repurposing office space. There should be a cookie cutter since office space is the same. I don't see this is it but there is an answer to everything. Just need to pencil it out. Give the layout to AI see what they can come up with.
There can definitely be a lot of money in repurposing office space, but it’s often times not nearly as cheap and efficient as it would be to build a building ground-up. The issue with office is that the plumbing and mechanical systems are typically in the core of the building, whereas a use like apartments, for example, would need all of the plumbing and mechanical in each individual room, which could be expensive to retrofit.
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What're your thoughts on this concept for the next iteration of office space?
“The path forward is VARI clear” 😂😂 loved the entire video. I’m on board with more of this !
🤣 love it
Vari clever! 😂
@erickavalauskas-ek4558 😂
I used to work right by this building. Didn't realize what they were doing with it.
Nice! It’s a really cool area - super easy for us to get to from the airport and the campus was amazing.
I liked the video and presenters 👍. I am still unconvinced that this model works long-term though. Digital private/shared space is hard to beat (which we already get in an assortment of super affordable applications tried and tested through C-19 & and the users do not even have to leave home for most of the same amenities featured). Throw in a growing global workforce, and it becomes more and more clear. Money previously put into office space is getting harder and harder to justify year over year (even if its admittedly more efficient/cheaper/nicer than before).
Agreed - it’s going to change. But I don’t think that work from home will be the only option. Many employers want their team collaborating in the office, and online simply doesn’t replace that.
On the opposite side, if employees start refusing to work from the office and employers have to deal with remote employees, what’s to keep them from hiring equally competent workers offshore for 1/4 to 1/5 of the price?
That's why I think salaries will go down and not up over time (in REAL dollars comparatively). I am in the offshoring business, and there really is almost no reason not to. Lots of people speak English around the world. Lots of people work very hard. It will balance closer over time in real dollars.
this kind of stuff gives me so much hope. everything can change, even those "boring" officejobs and spaces. thanks for the video mate!
For sure! Just like retail adapted to e-commerce. Office is just going through an adjustment period
Thanks for sharing this.
Anytime!
This looks awesome. Cool video keep doing what you do.
Pretty incredible spot. Appreciate it!
Cool, but it's looks like a big gamble. I don't know who's going to be fronting the bill on this concept until it's more proven.
Be greedy when others are fearful. There are a lot of office owners out there that have nearly full vacancy that I would bet would be willing to try this.
They're going to have to try something! I definitely like it and think it will work. The whole key is that one word, "Flexible." Sky's the limit with that kind of creativity.@@TylerCauble
@dapartyat couldn’t agree with you more - I think that’s going to be our “one” word for the next few years: Flexibility
This concept is amazing. They have created an amazing concept on space flexibility and having multiple tenants to diversify risk. This would help so much in rebuilding the office space class.
Couldn’t agree more - it’s an incredible case study on how office space should be pivoting right now
You ought to take these guys to 3040 Sidco. That property needs help.
Haha let’s talk 😂
Thanks so much for the great contents...Very inspirational to see creative mind turning abandon space into a desirable place to work.
Absolutely! Such a cool project
Great video. These are the type things I’m interested in exploring with multi-tenant flex.
That’s one of the asset classes I’m focusing on in 2024. Love these investments
@@TylerCauble can’t wait to connect further on our conversation yesterday at the conference.
@erickavalauskas-ek4558 looking forward to it, man!
Gold
🔥🔥
Flexspace, this is an interesting word
for sure
Some people would use it's still advantageous to work from home. As an option great but for realization of technology advancements in communication I would not invest in office space.
It’s advantageous for many different industries and job types, but not for all
Tyler, not sure what the Hype is about nothing new here, this is rebranding the Regus office model. Make it feel like a Campus environment and add adjustable walls which will allow you to expand without having to do construction. The big question is how do you attract employees back to an office environment so your absorption rates go up. Not sure this concept will check that box. I wish you would have asked them what their occupancy rate is, I bet they max out at 50%.
Right, that’s very different from the Regus office model. Have you ever been inside a Regus?
VariSpace’s occupancy is high, I did talk to them about that. They just had a tenant move out of this location but before that it was essentially 100% occupied. The concept is doing really well, I wouldn’t have made this video if it wasn’t. Vari owns over 1m sf in the DFW area for this concept.
And employees that don’t want to come back to the office will soon find themselves replaced at 1/4 to 1/5 of the cost with offshore talent. I have a feeling that a lot of companies will start exploring more cost effective solutions if they have to put up with remote work.
@@TylerCauble Mr Tyler, I was a little skeptical when they quoted you nearly 100% occupancy, so I went on Loopnet as of today they have 219,000 sq ft for rent so the monster campus is only 30% occupied. This does not feel like the office of the future with such a large vacancy. Time will tell what the demand will look like in the interim lucky they have a booming Furniture business which can help fund the expenses of operating that monster space.
Forgive my ignorance...Is this kind of like WeWork? Or different concept?
It’s different because each of these tenants have their own private office spaces. At a true coworking space, tenants may have a small private area but the majority of the space is shared. Here, these tenants occupy 10,000+ sq ft and have shared amenities, so almost a hybrid of old office space and coworking.
@@TylerCauble Ohhhh, that's awesome. Thank you!
This concept is great...This is what Wework should have been. @@aaronlogan_music
Really enjoying your content! Keep up the great work. I have an idea that could help grow your channel. Interested in hearing more?
👊🏼👊🏼
The big money maker is repurposing office space. There should be a cookie cutter since office space is the same. I don't see this is it but there is an answer to everything. Just need to pencil it out. Give the layout to AI see what they can come up with.
There can definitely be a lot of money in repurposing office space, but it’s often times not nearly as cheap and efficient as it would be to build a building ground-up. The issue with office is that the plumbing and mechanical systems are typically in the core of the building, whereas a use like apartments, for example, would need all of the plumbing and mechanical in each individual room, which could be expensive to retrofit.