Open office floorplans have become trendy over the past several years. Driven by the tech industry and other “new economy” sectors, such layouts were developed to enhance worker collaboration, creativity and job satisfaction, with the ultimate goal of improving worker productivity – all while reducing real estate occupancy costs.
With such lofty ideals attributed to open floorplans, it makes sense for today’s conventional office tenants and landlords to join this trend – right? Perhaps not, as a recent study from Harvard Business School determined that open floorplans actually contribute to a decline in cognitive focus and worker productivity. Both visual and auditory distractions have been shown not only to decrease productivity, but also to increase worker stress and frustration. Other studies have shown that open floorplans actually decrease face-to-face interactions, as workers strive to find privacy via the increased use of headphones, electronic messaging, etc.
Of course interpersonal interaction via an open floorplan will, at times, produce ideas or solutions that may not have otherwise come to light; but at what cost? How much value did each person who abandoned their own projects actually add to the new project, and how much was lost on their assigned projects?
The open office concept may be a trend that has reached its peak in many markets. While the premise of the concept is indeed attractive, jumping in without careful thought could be penny-wise and pound-foolish.
| AVAILABLE FOR FOR SALE Q3 2019 | |||
|---|---|---|---|
| Location | Sq. Ft. | List Price | Price/SF |
| Industrial | |||
| 11978 Charles Dr, Grass Valley | 2,500 | $299,900 | $119.96 |
| 13242 Grass Valley Ave #22-23, Grass Valley | 2,716 | $195,000 | $143.59 |
| 13242 Grass Valley Ave #24, Grass Valley | 1,358 | $195,000 | $143.59 |
| 12509 Loma Rica Dr, Grass Valley | 1,524 | $122,000 | $80.05 |
| 174-178 Lower Grass Valley Rd, Nevada City | 8,320 | $1,249,000 | $150.12 |
| 110 Spring Hill Dr #19, Grass Valley | 3,753 | $374,000 | $99.65 |
| Office | |||
| 10015 Alta Sierra Dr, Grass Valley | 4,176 | $760,000 | $181.99 |
| 563 Brunswick Rd # 2, Grass Valley | 1,151 | $195,000 | $169.42 |
| 565 Brunswick Rd # 9, Grass Valley | 1,387 | $290,000 | $209.08 |
| 13421 Grass Valley Ave, Grass Valley | 13,136 | $1,395,000 | $106.20 |
| 154 Hughes Rd, Grass Valley | 6,650 | $850,000 | $127.82 |
| Medical/Dental | |||
| 152 Catherine Ln., Suite E & F, Grass Valley | 1,393 | $225,000 | $161.52 |
| 411 Coyote St, Nevada City | 1,842 | $559,000 | $303.47 |
| 105 Margaret Ln, Grass Valley | 2,460 | $375,000 | $152.44 |
| 300 Sierra College Dr #250, Grass Valley | 1,740 | $615,000 | $353.45 |
| 300 Sierra College Dr #165, Grass Valley | 4,787 | $1,450,000 | $302.90 |
| Retail | |||
| 210 Broad St, Nevada City | 21,675 | $2,100,000 | $96.89 |
| 311 Broad St, Nevada City | 1,320 | $649,000 | $491.67 |
| 315 Broad St, Nevada City | 4,979 | $1,350,000 | $271.14 |
| 426 Broad St, Nevada City | 1,333 | $575,000 | $431.36 |
| 231 - 233 Colfax Ave, Grass Valley | 4,440 | $890,000 | $200.45 |
| 131-139 Joerschke Dr, Grass Valley | 19,580 | $1,800,000 | $91.93 |
| 104 E Main St, Grass Valley | 1,387 | $419,000 | $302.09 |
| 840 E Main St, Grass Valley | 28,706 | $5,450,000 | $189.86 |
| 206 W Main St, Grass Valley | 3,950 | $875,000 | $221.52 |
| 633 - 653 Maltman Dr, Grass Valley | 8,595 | $995,000 | $115.76 |
| 123 Mill St, Grass Valley | 1,485 | $764,000 | $514.48 |
| 16282 Mount Olive Rd, Grass Valley | 5,655 | $660,000 | $116.71 |
| 1125-1165 Sutton Way, Grass Valley | 24,539 | $3,500,000 | $142.63 |
| 102 - 108 Union St, Nevada City | 14,000 | $3,200,000 | $228.57 |
| 203 York St, Nevada City | 3,265 | $1,300,000 | $398.16 |
| AVAILABLE FOR FOR LEASE Q3 2019 | |||
|---|---|---|---|
| Location | Sq. Ft. | Min Base Price/SF | Max Base Price/SF |
| Industrial | |||
| 355 Crown Point Cir, Grass Valley | 4,800 | $0.60 | $0.60 |
| 10141 Evening Star Dr, Grass Valley | 2,750 | $0.80 | $0.80 |
| 972 Golden Gate Ter, Grass Valley | 4,864 | $1.00 | $1.00 |
| 12257 - 12263 Loma Rica Dr, Grass Valley | 4,500 | $0.98 | $0.98 |
| Office | |||
| 10015 Alta Sierra Dr, Grass Valley | 830 | $1.32 | $1.32 |
| 126 S Auburn St, Grass Valley | 5,100 | $0.65 | $0.65 |
| 131 S Auburn St, Grass Valley | 921 | $1.51 | $1.51 |
| 159 S Auburn St, Grass Valley | 2,242 | $1.12 | $1.12 |
| 375 Brunswick Rd, Grass Valley | 6,791 | $1.28 | $1.28 |
| 464-458 Brunswick Rd, Grass Valley | 4,970 | $1.58 | $1.88 |
| 512 - 528 Brunswick Rd, Grass Valley | 720 | $1.04 | $1.04 |
| 124 Clydesdale Ct, Grass Valley | 7,352 | $0.75 | $0.75 |
| 333 Crown Point Cir, Grass Valley | 7,925 | $1.70 | $1.70 |
| 350 Crown Point Cir, Grass Valley | 5,550 | $1.40 | $1.40 |
| 360 Crown Point Cir, Grass Valley | 9,603 | $1.39 | $1.49 |
| 431 Crown Point Cir, Grass Valley | 11,100 | $0.85 | $0.85 |
| 488 Crown Point Cir, Grass Valley | 5,168 | $1.80 | $1.80 |
| 200 Litton Dr, Grass Valley | 3,000 | $1.40 | $1.40 |
| 640 E Main St, Grass Valley | 1,579 | $0.66 | $0.66 |
| 900 E Main St, Grass Valley | 7,700 | $1.63 | $2.09 |
| 944 - 1020 McCourtney Rd, Grass Valley | 5,639 | $1.68 | $1.68 |
| O84 Plaza Dr, Grass Valley | 2295 | $1.26 | $1.26 |
| 101 - 106 Providence Mine Rd, Nevada City | 1,650 | $1.41 | $1.43 |
| 200 - 208 Providence Mine Rd, Nevada City | 13,529 | $1.47 | $1.48 |
| 351 Providence Mine Rd, Nevada City | 1,152 | $1.70 | $1.80 |
| 352 Providence Mine Rd, Nevada City | 1,530 | $1.70 | $1.80 |
| 353 Providence Mine Rd, Nevada City | 1,704 | $1.70 | $1.80 |
| 356 Providence Mine Rd, Nevada City | 275 | $395 | $595 |
| 357 Providence Mine Rd, Nevada City | 1,800 | $1.70 | $1.80 |
| 400 Providence Mine Rd, Nevada City | 72,110 | $0.75 | $0.95 |
| 313 Railroad Ave, Nevada City | 1,469 | $1.35 | $1.35 |
| 120 Richardson St, Grass Valley | 1,635 | $1.15 | $1.15 |
| 360 Sierra College Dr, Grass Valley | 2,519 | $1.96 | $1.96 |
| 420 Sierra College Dr, Grass Valley | 1,750 | $2.20 | $2.20 |
| 143 Spring Hill Dr Ste 1A, Grass Valley | 5,082 | $1.23 | $1.23 |
| 165 Spring Hill Dr, Grass Valley | 2,500 | $1.00 | $1.00 |
| 1012 Sutton Way, Grass Valley | 3,200 | $1.87 | $1.87 |
| 908 Taylorville Rd, Grass Valley | 1,563 | $1.66 | $1.66 |
| 1415 Whispering Pines Ln, Grass Valley | 8,009 | $1.60 | $1.60 |
| Medical/Dental | |||
| 470 S Auburn St, Grass Valley | 1,045 | $1.25 | $1.25 |
| 152 Catherine Ln., Suite E & F, Grass Valley | 1,393 | $0.86 | $0.86 |
| 105 Margaret Ln, Grass Valley | 1,100 | $1.30 | $1.30 |
| 123 Margaret Ln, Grass Valley | 1,200 | $1.40 | $1.40 |
| Retail | |||
| 408 Broad St & 405 Commercial Street, Nevada City | 712 | $1.37 | $1.37 |
| 650 Freeman Ln, Grass Valley | 19,467 | $1.95 | $2.40 |
| 533-537 E Main St, Grass Valley | 14,300 | $1.20 | $1.20 |
| 840 E Main St, Grass Valley | 11,727 | $1.60 | $1.60 |
| 105 W Main St, Grass Valley | 4,000 | $0.75 | $0.75 |
| 111 W McKnight Way, Grass Valley | 9,398 | $2.06 | $2.06 |
| 2032 - 2118 Nevada City Hwy, Grass Valley | 5,950 | $1.76 | $1.76 |
| 984 Plaza Dr, Grass Valley | 6,300 | $1.03 | $1.14 |
| 102 - 108 Union St, Nevada City | 1,873 | $1.65 | $1.65 |
| RECENT TRANSACTIONS Q3 2019 | |||
|---|---|---|---|
| Location | Sq. Ft. | Sale/Lease | Close Date |
| 102 Catherine Ln, Grass Valley | 2,736 | Lease | 6/27/2019 |
| 972 Golden Gate Ter, Grass Valley | 4,864 | Sale | 7/1/2019 |
| 351-357 Providence Mine Rd, Nevada City | 10,554 | Sale | 7/1/2019 |
| 648 Zion St, Nevada City | 918 | Sale | 8/1/2019 |
| 653 A & B Maltman Dr, Grass Valley | 4,200 | Lease | 8/9/2019 |
| 355 Crown Point Cir, Grass Valley | 7,200 | Lease | 8/14/2019 |
| 901-D La Barr Meadows Rd, D, Grass Valley | 932 | Sale | 8/19/2019 |
| 333 Crown Point Cir, Grass Valley | 2,316 | Lease | 8/30/2019 |
| 438 Colfax Ave, Grass Valley | 2,464 | Sale | 9/5/2019 |
