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Office Building Health and Safety Now Requires Extra Spending. But Who Will Foot the Bill?

National Real Estate Investor, 2020-07

COPYRIGHT 2020 Penton Media, Inc., Penton Business Media, Inc. and their subsidiaries ;Copyright Penton Media, Inc., Penton Business Media, Inc. Jul 23, 2020 ;ISSN: 0027-9994

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  • Title:
    Office Building Health and Safety Now Requires Extra Spending. But Who Will Foot the Bill?
  • Author: Obando, Sebastian
  • Subjects: Central business districts ; Cost control ; Economic aspects ; Health care costs ; Indoor air quality ; Leases ; Office buildings ; Safety and security measures
  • Is Part Of: National Real Estate Investor, 2020-07
  • Description: Incremental operating costs for office buildings could increase by at least $19.40 per sq. ft. or 5.8 percent of average annual office rents at the beginning of 2020, according to a recent report from consulting firm Deloitte. “In office leases, most leases specify what kind of cleaning is going to be performed every night and that’s typically defined as standard cleaning,” says Grayson Gill, chief operating officer of U.S. property management with real estate services firm CBRE “That cleaning is typically dusting, trash removal, vacuuming, it doesn’t really have anything to do with disinfecting. In the long term, as people return to offices, cleaning costs may increase for items like additional daytime cleaning personnel, self-cleaning surfaces and signage, as well as indoor air quality measures,notes Fink.
  • Publisher: Atlanta: Penton Media, Inc., Penton Business Media, Inc. and their subsidiaries
  • Language: English
  • Identifier: ISSN: 0027-9994
  • Source: ProQuest Central
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