By Brett Merz, senior vice president, asset management, KBS Realty Advisors The demand for office properties with amenities that reflect an awareness of environmental, social and governance (ESG) principles is growing as a result of younger generations joining the workforce and investing. A recent study by CNBC Make It found that one-third of millennials in the United States place a high focus on investment products with ESG factors. This tendency naturally extends to the places where they work. In fact, 47 percent of 18- to-34-year-olds in the United Kingdom say they would look for a new role if they thought their employer was not committed to the cause. This finding demonstrates that ESG is becoming an essential part of recruitment and retention — particularly among younger workers. Since millennials and gen Zers make up the majority of today’s workforce, ESG is becoming a rising concern among office owners. In the growing markets of Dallas and Austin, businesses are now seeking office spaces that offer eco-friendly features to help attract and retain employees. As a large investor in top-tier commercial real estate, KBS has seen how these amenities can benefit office investors. This is one of the reasons we created an…
Millennials, Gen Zers Drive Demand for ESG Amenities at Texas Office Properties
By Brett Merz, senior vice president, asset management, KBS Realty Advisors The demand for office properties with amenities that reflect an awareness of environmental, social and governance (ESG) principles is growing as a result of younger generations joining the workforce and investing. A recent study by CNBC Make It found that one-third of millennials in the United States place a high focus on investment products with ESG factors. This tendency naturally extends to the places where they work. In fact, 47 percent of 18- to-34-year-olds in the United Kingdom say they would look for a new role if they thought their employer was not committed to the cause. This finding demonstrates that ESG is becoming an essential part of recruitment and retention — particularly among younger workers. Since millennials and gen Zers make up the majority of today’s workforce, ESG is becoming a rising concern among office owners. In the growing markets of Dallas and Austin, businesses are now seeking office spaces that offer eco-friendly features to help attract and retain employees. As a large investor in top-tier commercial real estate, KBS has seen how these amenities can benefit office investors. This is one of the reasons we created an…