BentallGreenOak, a global real estate investment firm, has introduced move-in-ready offices that target small and medium-sized business tenants seeking flexibility in a bet that hybrid work patterns will be the workplace norm.
The firm, which began operating last month under the name BGO, said the offices span in size from 1,000 square feet to 18,000 square feet, can be occupied immediately, and offer flexible lease terms and arrangements.
BGO, with office holdings in 28 cities across 14 countries, joins other landlords, including global developer Tishman Speyer and SL Green Realty, Manhattan’s largest office landlord, that have added flexible office offerings as companies debate their space needs.
The firm's prebuilt suites are available in New York, Boston, Chicago, San Francisco and Washington, D.C., with designs underway to expand across the firm’s entire U.S. office portfolio, BGO, part of the alternative asset management business of Canadian financial services giant Sun Life, said Tuesday in a statement.
The locations in New York include 757 Third Ave. and 685 Third Ave. by Grand Central Terminal, and 101 Greenwich St. in lower Manhattan, according to BGO’s website.
A BGO spokesperson in an email to CoStar News said demand for the offices so far has been strong.
“The landlord-tenant relationship has evolved in important ways to make productivity, health and wellness, and high-performance workspaces a collective pursuit,” BGO Managing Partner and Head of U.S. Asset Management Rob Naso said in the statement. Naso added that the offering responds to the “flight to quality” trend it sees in every major market and “combines flexibility with premium design standards that truly elevate the workplace experience.”
BGO said the offices were designed by well-known firms such as Gensler and Michaelis Boyd. They feature greenery and natural light throughout every space, according to the company.
Flexible users benefit from access to building amenity spaces and other perks, said BGO, which has about about $83 billion in assets under management.