Dive Brief:
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A shift in the kind of tenants who are renting offices is changing the way builders and architects are designing the space.
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As cities on both coasts attract more creative and technology professionals than traditional tenants like lawyers, the owners of commercial buildings are designing them with room for collaboration and shorter leases to accommodate start-ups that could be short-lived.
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Industry experts said at a forum last week said the trend is strongest in San Francisco and Boston, two cities that attract the most technology entrepreneurs.
Dive Insight:
The same principle applies to multifamily buildings, industry insiders said. Shorter, more flexible leases are in demand among young renters who shy away from debt and home ownership, they said.