office buildings

Future of the office market, Part 1: What will the post-pandemic office market mean to the growth and redevelopment of Montgomery County?

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Written by Todd Fawley-King & Atul Sharma

The sudden experiment in widespread telework for office workers as a result of the COVID-19 pandemic has pundits appropriately questioning the future of the office. Much of this discussion focuses on using technology to make buildings safer, but there are more fundamental questions about the need for and relevance of office space itself. The sector is at risk of disruption: an estimated 40% to 50% of the 472,126 jobs in Montgomery County could be performed at home by telecommuting.[i] That in turn has significant implications for real estate in Montgomery County, which has 1,533 office buildings offering 73.3 million leasable square feet, approximately 12% of which was vacant in Q4 2019 before … Continue reading

From Corporate Offices to Centers of Learning

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Changes in work patterns and population growth are leading to new types of schools

Walking past 8000 Jones Branch Drive in Tysons Corner, it is easy to assume that offices occupy this regular, three-story building. Entering its light filled atrium, however, does not reveal a corporate lobby or water cooler talk, but a gathering space where hundreds of chattering students dart between classes and engage in extracurricular activities. Welcome to Basis Independent School, a new type of center for learning.

Basis Independent is a private K-12 school that sits within the 120,000 square feet of this former Tysons Corner office building. This renovation project was designed by the DC architecture firm Perkins Eastman with Gilbane as the design-build partner. … Continue reading

The Future of Aging Office Buildings

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Transit-served locations, less parking and affordability in urban centers are behind the successful recycling of offices into residences and other uses

Walking past the Octave 1320 on Fenwick Lane in Downtown Silver Spring, it is hard to imagine that not too long ago, this glimmering, 102- unit condominium housed vacant offices and a greasy spoon eatery in its basement. The transformation of the 10-story building, developed by Promark Real Estate Services of Rockville and designed by Washington, DC-based BKV Group, is impressive and likely to become the norm rather than the exception in Montgomery County’s urban centers. Several factors are influencing such conversions of aging office structures to other uses:

Our downtowns are mostly built up with high density … Continue reading