I remember about 10 years ago when a vendor approached our tenant representation advisory group and presented the concept of “movable wall partitions” for office space for our corporate client, versus traditional drywall with studs. No one quite knew what to think. Time progresses, technology progresses. So at a recent meeting when this topic came up again, it made me think: Why don’t we see this application for office building finish out?
The benefits now seem to be a proven fact, and include:
• Adaptability. This can lead to more efficient floor planning—if you can break it down, you may need less space—and ease of interior moves/adds.
• Accelerated finish out work schedules. Time is money, so less time to build out spaces is valuable. Voice /power/data built in at same time.
• Tax benefits. Either the building owner (legal ownership is now clarified up front) or corporate tenant can claim tangible personal property (seven- to 20-year depreciation) versus real property (39-year depreciation).
• Environmentally friendly. There’s less waste material (drywall, carpet, etc.) and dumping.
• Aesthetically pleasing. “Ugly” is apparently not a concern anymore.
So, what has stopped wall partitions from becoming viable day-to-day? Most would point to cost as the No. 1 obstacle. Ten years ago, partitions cost so much more up front than traditional drywall. But that gap has since narrowed to the point that sometimes the up-front expense is now equal.
At the very least, it is an option that corporate space users should be aware of and ask about when it comes time to space plan and finish out interior spaces—and certainly when a corporation owns its own facility.
As senior vice president of UGL Services, Jim Lob co-manages the firm’s brokerage operations in Dallas. He specializes in large corporate headquarters relocations and build-to-suit projects. Contact him at [email protected].
