“Firms wanted the ability to customize their workplace to fit their corporate culture or brand,” Barr says. “A ‘flexible kit of part’ became the norm and still holds true today. The user has much more power to move through space and define their work style and needs. The space no longer defines how and where the user works.”

Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, tells GlobeSt.com that, looking back 15 years ago, occupancy was primarily driven by the familiar marketing mantra of “location, location, location” and the tipping points of a good rate and TI allowance. “Today, the required design and performance of a business address—both the space and the building it’s in—have become much more complex and more interesting.”