As we wrap a second year of highly dynamic shifts in the post-COVID economy landscape, we’ve been looking into job trends. First, we focused on the fastest-growing jobs in the U.S. and found that the healthcare and green energy industries accounted for some of the most thriving occupations of the last decade. We also wanted to take a look at the opposite end of the spectrum: Which occupations have seen the sharpest decline during that same time?

Using data from the Bureau of Labor Statistics’

As we wrap a second year of highly dynamic shifts in the post-COVID economy landscape, we’ve been looking into job trends. First, we focused on the fastest-growing jobs in the U.S. and found that the healthcare and green energy industries accounted for some of the most thriving occupations of the last decade. We also wanted to take a look at the opposite end of the spectrum: Which occupations have seen the sharpest decline during that same time?

Using data from the Bureau of Labor Statistics’ (BLS) Occupational Employment Statistics, we looked at occupational decline from 2012 through 2021 (see the methodology section below for details). Below are our findings on the 10 fastest-shrinking jobs in the U.S.; the steepest job drop in each of the states we analyzed; and what may have influenced their downward trajectories.

Photographic Processing & Movie Projection Hit Hardest

Of course, various jobs across the entertainment industry have been undeniably affected by the COVID-19 pandemic. That said, it’s safe to assume that digital technology integration has had a more notable contribution to the decline in some of these occupations across the decade we surveyed. For instance, our analysis found three entertainment- and arts-related activities among the 10 fastest-declining jobs in the U.S. Notably, the two that landed at the top of the list were most likely victims of rapid technological advances that drove changes in their respective industries.

Specifically, jobs for photographic process workers and processing machine operators recorded a nearly 88% drop. As a result, they stood out as the fastest-dwindling occupations in the country during the last decade: In 2012, BLS data showed that nearly 46,000 jobs were filled in this line of work. But, by 2021, that number had diminished to a little more than 5,700.

While it’s easy (and somewhat reasonable) to point the finger at automation, the drop in job numbers for this profession could be the result of a combination of multiple converging trends. For example, contributing causes might include: an increase in consumer preference for the digital imaging medium, rather than physical prints; fine-tuned, camera-equipped mobile devices that are now more readily accessible; and increased accessibility of complex image processing possibilities for non-professionals.

The second-fastest decline was seen in the nearly 80% drop in motion picture projectionist jobs, which shrank from a little more than 8,000 in 2012 to roughly 1,600 last year. As motion picture technology advanced and the movie-going experience became increasingly experiential, the movie theatre business — itself now largely made up of standardized chain multiplex theatres — grew apart from the highly experienced projection specialists who used to man the country’s multitude of movie screens.

The third entertainment-related category that landed in this top 10 was professional dancers. With a 10-year decline of a little more than 66%, it landed ninth among the fastest-declining occupations of the decade. In this case, 2012 data showed that there were nearly 11,000 workers employed in this profession, whereas there were less than 3,900 on record in 2021.

Jobs in Extraction & Construction Activities Shed Hefty Numbers

The third-fastest-declining job in the country during the last decade was the extraction work helper. Numbers in this profession dropped nearly 77%, from 25,840 workers in 2012 to just below 6,000 in 2021 — a decrease of nearly 20,000 jobs that previously filled in this occupation.

Meanwhile, mining roof bolters accounted for the fifth-fastest-declining job in the country. The number of jobs in this labor-intensive and particularly perilous profession dropped nearly 73% during the decade we surveyed, going from just below 6,800 workers in 2012 to barely 1,500 in 2021.

Likewise, employment opportunities for metal and plastic drilling and boring machine workers shrank 67% in 10 years, from more than 20,600 jobs in 2012 to about 6,800 jobs last year — the seventh-steepest job decline of the decade. And, while concerted efforts to re-shore manufacturing may lead to an uptick in demand for manual machine tool operators and tenders in the coming years, growth prospects for this job remain limited in the long term. Unsurprisingly, this is mostly due to the continued advancement and adoption of labor-saving machinery across a growing number of traditionally labor-intensive industries.

Finally, the 64% decrease in oil and gas derrick operator jobs rounded out the list of the 10 fastest-declining professions in the U.S. Granted, the great slowdown in consumption at the start of the COVID-19 pandemic led fossil fuel companies to drop or furlough several jobs directly involved in extraction activities. However, the number of derrick operator jobs in the industry had been steadily declining throughout the decade between 2012 and 2021, from just below 22,000 workers to nearly 7,900.

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Manufacturing, Maintenance & Handling Jobs Take the Largest Loss in 22 States

Photographic process workers and processing machine operators were the fastest-declining professions in 10 states: Virginia (-96%); Arizona, Ohio, and South Carolina (-95%); Texas (-94%); Maryland (-93%); New Jersey (-92%); Washington and New York (-90%); and New Hampshire (-82%).

At the same time, while engine and machine assembly jobs quadrupled in Indiana, the number of boilermakers here dropped 90% in 10 years, going from a little more than 3,000 workers in 2012 to just 300 in 2021. Unfortunately, this is not surprising, as the process of making boilers has been largely automated throughout the years. Plus, as new technologies are developed away from gas- and electricity-fueled heating systems, boilers themselves may become obsolete over time. Even so, boilermakers remain relevant to the industry: This is a product with an expected life of several decades and, as such, it still requires professional maintenance and retrofitting to prolong its useful life. Subsequently, skills gained in this profession can be relevant to the manufacturing and maintenance of whatever technology is likely to replace boilers (such as heat pump systems).

Additionally, the Delaware economy shed 92% of machinery maintenance worker jobs in the last decade. Similarly, the number of tailors, dressmakers, and custom sewers in Alabama dropped 92%, dwindling from nearly 500 in 2012 to just 40 last year. Further west, earth drillers (except oil and gas) were the sharpest-declining jobs in Oklahoma, where numbers fell 94% in 10 years, as well as in Wyoming, where jobs in this profession dropped by 88%. Meanwhile, in Nebraska, the number of workers on record as paper goods machine setters, operators, and tenders fell 86% from 2012 through 2021.

13 States Saw Sharpest Declines in Business or Service Jobs

As far as the business- or service-related professions that stood out as the fastest-declining, telemarketers saw the greatest drop in terms of percentage in four states: In Kansas and in South Dakota, jobs in this profession fell 95%; in Mississippi, they dropped by 92%; and, in West Virginia, the decline rate was 91%.

At the same time, credit authorizers, checkers, and clerks marked the sixth-fastest-declining job nationwide, with a decrease of more than 67% — from 51,650 workers in 2012 to roughly 16,800 in 2021. Plus, in Connecticut, it topped the list of most rapidly shrinking jobs of the decade, recording a drop of 96%.

In Illinois, desktop publisher jobs fell 92%, going from 890 in 2012 to just 70 last year. During that same time, the number of word processor and typist workers in Minnesota also fell 92%, from 1,070 to 90. And, the largest decline rate in Vermont was 85% for mail clerks and mail machine operators (outside of the Postal Service).

Check the table included below for more details on the fastest declining jobs in each of the states we analyzed:

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Methodology

We used data on Occupational Employment Statistics that was reported by the Bureau of Labor Statistics from 2012 to 2021. Specifically, we looked at job decline in terms of the percentage decrease from 2012 through 2021 in the total number of employees within an occupational category. Due to lack of details, we excluded all occupations with a suffix of “all other” or “miscellaneous.”

Our analysis included data on the 48 states included in what is defined as “the contiguous continental United States.” The District of Columbia and Alaska, as well as Hawaii and other offshore, insular areas (such as American Samoa, Guam, the Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands), were not considered for this analysis.

Newmark has brokered a financing deal totaling $150 million for the reconversion of the Textile Building in Midtown Manhattan. Dustin Stolly, Jordan Roeschlaub, Christopher Kramer, Nick Scribani, Ben Kroll, and Holden Witkoff were part of the team that secured the mortgage issued by Deutsche Pfandbriefbank — a German bank that specializes in real estate and public sector financing.

“Being able to secure financing for this type of product during this uncertain time speaks to the quality of the collective

Newmark has brokered a financing deal totaling $150 million for the reconversion of the Textile Building in Midtown Manhattan. Dustin Stolly, Jordan Roeschlaub, Christopher Kramer, Nick Scribani, Ben Kroll, and Holden Witkoff were part of the team that secured the mortgage issued by Deutsche Pfandbriefbank — a German bank that specializes in real estate and public sector financing.

“Being able to secure financing for this type of product during this uncertain time speaks to the quality of the collective ownership of the property,” Stolly said.

Owned by Tribeca Associates and located at 295 Fifth Ave., the property was originally built in 1920 and, for much of the 20^th century, had been a Mecca for textile manufacturers. Completed in less than five months, the building is a reminder of an era in which Manhattan was dotted with a series of specialty addresses. For instance, several places were dedicated to a particular branch of business — such as the Brill Building, which was a focal point of music publishers, studios and other entertainment companies — or the International Toy Center.

In 2021, construction and rehabilitation work began to reshape the former Textile Building into a new, 19-story, 710,000-square-foot office tower. Efforts included upgrades to existing windows; HVAC and ventilation systems; elevators; and general infrastructure. Meanwhile, the lobby was redesigned by Studio MAI, adding more natural light through the use of arched ceilings.

Upon completion, the property will also boast a new, 34,000-square-foot penthouse above the existing 16th floor. The space will provide access to premier office suites, as well as offer several wraparound terraces, arched canopies and breathtaking views of the Midtown skyline. Retail storefronts will also be revamped.

“Since the pandemic, we’ve seen office users flocking to quality assets to attract and retain their talent. The recent top-of-the-line modernization at 295 Fifth Ave. will make it a destination property for the city’s office tenants,” Roeschlaub said.

Given the strong interest of Fortune 500 companies in Class A buildings located along the Park Avenue South Square Park corridor, there’s much cause for optimism regarding the building’s ability to attract quality tenants upon completion.

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Key Highlights:

So, to better understand the pace and extent

Key Highlights:

So, to better understand the pace and extent of these changes, we used the latest data from the Bureau of Labor Statistics (BLS) to discover the fastest-growing jobs across the U.S. during the last decade. We also mapped the dominant industry for each of the 48 states in the contiguous United States, according to both percentage share and total number employees in a given occupation. Keep reading for more insights.

Below is a map showing which jobs — and industry they pertain to — grew the most in each state in the last decade. Hover over the states to see the fastest-growing job in each one.

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Similarly, Illinois boasted a 670% increase in the last decade to add an extra 2,210 marriage and family therapists to the state’s workforce. Meanwhile, manicurist and pedicurists jobs (which also fall under the broader category of healthcare occupations) topped the list across three states: Texas, Colorado and Wisconsin. In terms of total number of people employed in the profession, their ranks grew sixfold in Texas — from 1,150 to 6,610.

Indiana Engine & Machine Assembly Jobs Quadruple

At the same time, industrial occupations witnessed the most significant increases in eight states, including South Carolina (376%) and Virginia (350%). Even so, it was a 432% jump in engine and machine assemblers in Indiana that really stood out, adding 7,130 jobs throughout the last decade.

In California, it was a transportation industry job that grabbed the spotlight: The ranks of airfield operations specialists swelled by 560% here — from 480 to 3,170 workers by 2021.

Interestingly, Maryland and Georgia were the only states in which occupations relating to farming recorded the most significant increases. The number of farmworkers and laborers grew by 287% in Maryland (from 600 to 2,320), while Georgia agricultural equipment operators reached 940 workers, following a 276% hike.

Additionally, with both Millennials and now Gen Z focusing on education, the need for people who can process admission paperwork, oversee student activities and manage faculty research has grown. To that end, in Florida, the number of education administrators was 10 times higher by the end of the decade, reaching 13,660 workers — the highest spike for occupations within the business sector, both in terms of percentage and number of employees. The runner-up was New York, where employment for financial examiners went up 538%: The Empire State added more than 11,000 new jobs to the market in the last decade.

The maps below are interactive. First, select the industry or a group of industries on the right. The top map shows the share held by each of the 11 industries across job markets at state level. The bottom map reflects the total number of employees in a certain industry.

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Analyzing industries in each state by number of people employed, the concentration of jobs in the coastal and Sun Belt regions during the last decade becomes quite apparent: A combination of four states — California, Texas, Florida and New York — repeatedly topped the rankings for the most workers within the industrial, education, healthcare and IT sectors.

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Methodology

Biotech firm Haystack Oncology recently inked a lease for 20,000 square feet of office and processing lab space at City Garage Science & Technology Center in South Baltimore. The owner of the 135,000-square-foot life sciences building, located at 101 W. Dickman St., is Rockville, Md.-based commercial real estate investor South Duvall.

The tenant was represented by Mark Deering, a partner with MacKenzie Commercial Real Estate Services, while Nate Crowe of Scheer Partners negotiated on behalf of

Biotech firm Haystack Oncology recently inked a lease for 20,000 square feet of office and processing lab space at City Garage Science & Technology Center in South Baltimore. The owner of the 135,000-square-foot life sciences building, located at 101 W. Dickman St., is Rockville, Md.-based commercial real estate investor South Duvall.

The tenant was represented by Mark Deering, a partner with MacKenzie Commercial Real Estate Services, while Nate Crowe of Scheer Partners negotiated on behalf of the landlord.

Haystack Oncology, which is currently based at 301 W. 29th St. in Remington, is scheduled to move into its new facility by next summer. The company’s new space will feature an open office design with clinical diagnostic, research and sample processing labs. Haystack will take over part of the former space occupied by Under Armour.

Originally built in 1965 as a bus depot, City Garage was redeveloped into a manufacturing hub with the backing of Sagamore Ventures in 2016. The property is part of the Baltimore Peninsula, a mixed-use project undertaken by a team that includes the likes of MAG Partners, MacFarlane Partners, Sagamore Ventures and the Urban Investment Group within Goldman Sachs. Currently undergoing construction, the 235-acre development is estimated to deliver more than 14 million square feet of commercial office, retail and residential space to the local market.

“We’re looking forward to building out a state-of-the-art clinical laboratory at City Garage to support the innovations in precision medicine that Haystack Oncology is delivering to the clinic,” said Dan Edelstein, Haystack Oncology CEO and president. “Accessibility to the extraordinary life science expertise in the Baltimore region makes the location particularly attractive.”

Deering added: “City Garage is a recognized destination for research and development and life sciences companies, so with this move, Haystack Oncology will be situated in a high-energy environment with like-minded organizations. The project features lab-ready infrastructure, convenient access off Interstate 95, and an entrepreneurial atmosphere that will serve as an amenity to attract new talent to the company.”

The delivery of the Baltimore Peninsula will provide an important boost to the region’s life sciences market. According to a recent report, the Baltimore and Washington, D.C. region ranked fourth among U.S. life sciences markets, with Baltimore contributing roughly 28% of the dedicated space.

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Having already secured the likes of Merchants Bancorp, Bucks Productions, and online news magazine The Week as part of its roster, Marx Realty recently closed on three more lease deals with fintech companies at 10 Grand Central. Specifically, Fin Capital will occupy 5,212 square feet on the 33^rd floor of the 35-story Midtown Manhattan office. Meanwhile, DIF Capital Partners and Colibri Equity Ventures will open their offices on the 23rd floor, having agreed to 3,745 square feet and 2,915

Having already secured the likes of Merchants Bancorp, Bucks Productions, and online news magazine The Week as part of its roster, Marx Realty recently closed on three more lease deals with fintech companies at 10 Grand Central. Specifically, Fin Capital will occupy 5,212 square feet on the 33^rd floor of the 35-story Midtown Manhattan office. Meanwhile, DIF Capital Partners and Colibri Equity Ventures will open their offices on the 23rd floor, having agreed to 3,745 square feet and 2,915 square feet of space, respectively. Asking rents ranged between $87 and $99 per square foot.

JLL’s Mitchell Konsker, Simon Landmann, Kyle Young, Carlee Palmer and Thomas Swartz negotiated on behalf of Marx Realty. JLL’s Palmer also handled Colibri Equity’s deal. Additionally, CBRE’s Anthony Manginelli and Jeff Kilimnick handled the deal for DIF Capital, and Gabi Koshgarian of Vicus Partners represented Fin Capital.

“10 Grand Central continues to attract outstanding tenants,” said Craig Deitelzweig, president and CEO of Marx Realty. “The building’s repositioning strategy and role in Midtown Manhattan’s post-pandemic rebirth has resonated with the market, and it’s incredibly exciting to elevate 10 Grand Central’s position as one of Midtown’s most exciting office offerings.”

Designed by Ely Jacques-Kahn, 10 Grand Central has undergone major renovations since 2019. The effort — lead by David Burns, principal of Studios Architecture — was part of Marx Realty’s repositioning strategy for the 359,000-square-foot tower. Notably, the new façade features soaring marquee brass fins and oversized walnut doors. The lobby has also been refurbished, boasting a 7,500-square-foot indoor/outdoor lounge and club floor. The property also has a 40-seat conference space and a 1930s-inspired garden party outdoor space, dubbed The Ivy Terrace.

“10 Grand Central has more terraces than floors,” said Marx Realty President & CEO, Craig Deitelzweig. “The Ivy Terrace is only one of 44 terraces. Our repositioning strategy brought back multiple outdoor terraces that were once unused and undervalued and are now a key amenity for many in the building’s remarkable tenant roster.”

This year, lease deals at 10 Grand Central added up to more than 50,000 square feet of office and ground floor retail space. The building is home to notable companies, such as: real estate investment and management firm Strata Equity Group; conference organizer for health innovation HLTH; golf investing and tour organizing company LIV Golf Inc.; real estate investment firm Benenson Capital Partners; and international news agency Agence France-Presse.

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Applied molecular diagnostics firm LuminUltra has penned a lease deal with St. John Properties for 14,000 square feet at 805 Pinnacle Drive in Linthicum, Md. The Canadian company will relocate its U.S. headquarters to the new facility located within BWI Tech Park — a 156-acre business campus that encompasses more than 1 million square feet of Maryland commercial real estate, including office, flex, R&D and retail space.

Lacey Johannson negotiated on behalf of the owner, while MacKenzie Commercial

Applied molecular diagnostics firm LuminUltra has penned a lease deal with St. John Properties for 14,000 square feet at 805 Pinnacle Drive in Linthicum, Md. The Canadian company will relocate its U.S. headquarters to the new facility located within BWI Tech Park — a 156-acre business campus that encompasses more than 1 million square feet of Maryland commercial real estate, including office, flex, R&D and retail space.

Lacey Johannson negotiated on behalf of the owner, while MacKenzie Commercial Real Estate brokers Mark Deering and Drew White represented the tenant.

Previously, LuminUltra’s staff and resources were split between two locations — one at the University of Maryland, Baltimore County, as well as another smaller office space at BWI Tech Park. The new space will allow the company to bring together its technology development and distribution divisions. LuminUltra plans to use the premises to conduct research, development and logistics activities. It will also serve as the main shipping hub for all of the company’s North American business.

“We are thrilled to be bringing these two crucial areas of our company together under one roof,” said Pat Whalen, chairman and CEO of LuminUltra. “Opening this new facility at Pinnacle Drive unites two of our most critical departments and will foster even more innovation and collaboration as we work to continue to meet the needs of our customers and help solve the microbiological challenges they face.”

The property at 805 Pinnacle Drive was custom built to boost the company’s efficiency and productivity at its new location. The property includes a top-notch clean room and dry room for research involving freeze-dried products; a cold room for work in areas such as protein purification; and equipment design and engineering capabilities.

“We pride ourselves on developing innovative buildings for innovative tenants,” said Matt Lenihan, senior vice president of leasing for St. John Properties. “805 Pinnacle Drive has earned LEED® Gold certification from the U.S. Green Building Council for its sustainability features, and the flexible building design has enabled LuminUltra to create the precise configuration for their needs.”

Alongside recent upgrades to its Enterprise Resource Planning, the company has also placed significant emphasis on speeding up its workflow and product distribution to customers around the world. To that end, BWI Tech Park’s proximity to BWI Airport — as well as its access to key freight and road routes — will play a major role in the company’s efforts to meet customers’ needs.

Maryland’s biotech ecosystem provides an exciting talent pool for both regional and international businesses. Whether you’re in the market for office, flex, warehouse or retail space, CommercialCafe provides you with the tools you need to find the space that matches your company’s needs. Browse the latest commercial real estate listings in your preferred location and filter results by space type, size or asking price:

Although remote work was not unheard of prior to the COVID-19 pandemic lockdowns, the ample wave that rose in 2020 continues to ripple through the national workscape. And, although there is still some debate regarding a fully flexible future of work, the movement has so far brought certain undeniable benefits: Whether it has to do with evolving energy costs, health concerns, or investing that time toward more issues of personal value, cutting down on at least some of the previous commute time has been highly

Although remote work was not unheard of prior to the COVID-19 pandemic lockdowns, the ample wave that rose in 2020 continues to ripple through the national workscape. And, although there is still some debate regarding a fully flexible future of work, the movement has so far brought certain undeniable benefits: Whether it has to do with evolving energy costs, health concerns, or investing that time toward more issues of personal value, cutting down on at least some of the previous commute time has been highly appreciated.

But, how much did things actually change? To find out if an increase in the number of remote workers has put a dent in commute times for those still traveling to work, we looked at the most recent U.S. Census data on how 2021 numbers compared to 2019.

The National Average Commute Time Drops 7%, Remote Workforce Grows 12ppt

In 2019, Americans spent an average of 55.2 minutes per day on a round-trip commute (27.2 minutes each way). Two years later in 2021, Census survey data revealed that the same commute time had dropped to 51.2 minutes (or 25.6 minutes each way) — a 7% decrease in the national average, which added up to roughly 17 hours in commute time saved per year.

Meanwhile, the remote workforce increased 12 percentage points (ppt) — from nearly 6% in 2019 to just below 18% of the national workforce in 2021. In plain numbers, we estimated that, in 2019, there were nearly 9 million workers aged 16 years and older who were doing their jobs outside of a centralized workplace. For comparison, in 2021, that portion of the workforce increased to roughly 27.6 million workers. As a result, there were about 18.6 million fewer commuters across the country last year.

However, things look very different at the local level. Granted, both commute times and workforce distribution can vary greatly depending on a multitude of factors, such as: the size of the city; the local transit infrastructure; the makeup of the local economy and how much of it is compatible with remote work; local geography; seasonal weather patterns and more.

In particular, among the 50 most populous U.S. cities, those that saw the most significant contractions in average commute time were in the Western U.S. These were followed by major cities in the Southern region, where commuters saved at least a day’s worth of commute time last year, compared to 2019.

The graphic below shows the workforce distribution — remote (in blue, at right) versus non-remote (in green, at left) — and highlights the most notable local changes in average commute times:

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Beyond the Commute: How Remote & Flexible Work Can Usher in Positive Change

Decoupling work from geography has had an undeniably transformational effect on the national employment landscape, particularly in the knowledge economy: Remote recruiting has expanded accessible talent pools for employers, while simultaneously broadening employment opportunities for talent located outside of the traditional clusters of their target industry.

What’s more, a flexible, remote-friendly work environment is in high demand with younger generations. Some of the most attractive aspects of it are that it’s more inclusive and accessible than the average centralized workplace; is an option that respects workers’ time; and grants each individual the ability to tap into their own patterns of best productivity.

Another notable benefit has been the wider adoption of modern workplace technology. The “great remote work experiment” provides real-world use case data that is essential to boosting the progress and refinement of today’s technology, as well as ample practical opportunity to improve technological literacy across the multigenerational workforce.

Beyond the work environment itself, long-term workplace flexibility has the potential to reshape and revitalize communities. In fact, in a permanently flexible work landscape, amenities would no longer be largely concentrated in the high-density urban cores, but rather would expand outward to serve people where they are.

To that end, coworking space already does a great job of complementing traditional office clusters by securing the third space that flexibility creates a need for — the space between working from home and congregating at a centralized workspace. Over time, the reliable ability to work near home for a larger flexible workforce could result in fewer food deserts, as well as reduce the lack of other day-to-day service amenities that many large metro suburban areas are challenged with today.

Methodology

The data used for the study was extracted from the latest U.S. Census American Community Survey. We focused on travel time to work and the distribution of the workforce in terms of remote and non-remote workers. For both commuting and workplace characteristics, we analyzed 2019 and 2021 data for the 50 most populous cities in the U.S.

Specifically, the reported travel time to work includes time spent by workers not working from home picking up passengers in carpools, time spent navigating public transportation, and time spent in any other activities related to getting to work. We calculated the time spent traveling between home and work both ways (Census data multiplied by two). Hours spent in traffic were calculated by multiplying the minutes by working days (we used an average of 250 days) and dividing the result by 60 (minutes in an hour).

For workforce distribution estimates, we employed work-from-home percentages from total workers, as listed in Census report and calculated the difference between 2019 and 2021 values as a percentage point change. We estimated the number of workers who work outside a centralized workplace using the WFH percentage and number of total workers as per Census.

2021 vs. 2019 Commute Times & Remote/Non-Remote Workforce Distribution in the 50 Largest U.S. Cities

National real estate listings company Bright MLS will occupy 13,455 square feet of office space at Federal Realty-owned Pike & Rose in Bethesda, Md. The new lease will allow Bright MLS to move out of its previous location at 9707 Key West Ave. near Johns Hopkins University’s Montgomery County campus.

The negotiations were handled by JLL’s Bernie McCarthy and Danny Sheridan on behalf of the landlord, with Bob Dickman and Rusty McCabe of Avison Young representing the tenant.

With

National real estate listings company Bright MLS will occupy 13,455 square feet of office space at Federal Realty-owned Pike & Rose in Bethesda, Md. The new lease will allow Bright MLS to move out of its previous location at 9707 Key West Ave. near Johns Hopkins University’s Montgomery County campus.

The negotiations were handled by JLL’s Bernie McCarthy and Danny Sheridan on behalf of the landlord, with Bob Dickman and Rusty McCabe of Avison Young representing the tenant.

With the closing of this latest lease deal, the 11-story building located at 909 Rose Ave. is now fully occupied. Bright MLS joins a diverse tenant roster, which includes the likes of Beiser Law Firm, coworking chain Industrious, Kuta Software, Rycon Construction, Rowe Weinstein Sohn PLLC, and United Solutions.

“We have had incredible momentum since construction began in 2017 — even during some of the most challenging times — and delivered a fully-leased office building,” said Stuart Biel, senior vice president of Federal Realty.

The Bethesda office space is part of a 24-acre, mixed-use development that also includes 765 apartments, 99 condos, and a 177-room hotel, as well as 80,000 square feet of additional office space and more than 40 retailers. Notably, the campus also provides access to event spaces, such as the private dining options at Owen’s Ordinary and Summer House, as well as the ballrooms at Canopy by Hilton and Pinstripes.

Pike & Rose is also equipped with the latest in COVID-safe technologies, including a dedicated outdoor air system (able to circulate more fresh air throughout the building); a Schindler touchless elevator PORT; massive windows to allow for plenty of natural light; outdoor terraces; and Montgomery County’s largest rooftop farm.

“The state-of-the-art building and energetic, vibrant neighborhood offer exactly what we sought for our current and future team members,” said Brian Donnellan, Bright MLS president and CEO. “It’s a place we look forward to calling home.”

While other Federal Realty projects are already raising interest among prospective tenants, businesses and startups looking for an ideal office space in the Maryland area or other major U.S. markets can rely on a large and continuously updated database of listings available through CommercialCafe.com:

Law firm Kaufman Borgeest & Ryan recently closed a 15-year lease deal at Global Holding’s 875 Third Ave. The company will occupy 27,000 square feet of prime Manhattan office space located between East 52nd and East 53rd streets, marking a significant downsizing from its current 48,000-square-foot lease at Silverstein Properties’ 120 Broadway. The move reflects a wider trend of companies adjusting their office space needs to accommodate employees’ preferences for flexible work schedules.

Law firm Kaufman Borgeest & Ryan recently closed a 15-year lease deal at Global Holding’s 875 Third Ave. The company will occupy 27,000 square feet of prime Manhattan office space located between East 52nd and East 53rd streets, marking a significant downsizing from its current 48,000-square-foot lease at Silverstein Properties’ 120 Broadway. The move reflects a wider trend of companies adjusting their office space needs to accommodate employees’ preferences for flexible work schedules.

Asking rents were between $69 and $75 per square foot. The new tenant is scheduled to move in by March 2023 and will occupy the entire fifth floor of the building. The 29-story tower features a diverse tenant roster: It includes the likes of retailers I Tavolo, Starbucks, and Dunkin and is set to house Chopt in the renovated lobby. Currently, KUR Skin Lab, massage salon A’s Body Works and skin care treatment provider Janet Sartin also reside in the building.

JLL’s Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter represented the landlord, while Barry Lewen of Cresa and Howard Greenberg of Howard Properties negotiated on behalf of Kaufman Borgeest & Ryan.

“With over 600 linear feet of windows, 875 Third’s floor plates provide a uniquely efficient envelope for law firms,” Glickman said in a statement. “Along with the first-class amenities, transportation and ownership, the building offers an extremely attractive package for today’s tenants.”

Completed in 1982, the 700,000-square-foot tower was designed by Skidmore, Owings & Merrill as a 14-sided structure. Its long axis is also positioned at a 45-degree angle toward the avenue. Notably, the building was part of Madison Equities portfolio until 1998, when it was acquired by Boston Properties, which went on to renovate the property and resell it to its current owner by 2003. The building was then renovated once again in 2014 by Global Holdings.

Yardi, an industry-leading property investment and management software development company, recently announced the expansion of its suite of tools for coworking spaces with the launch of CoworkingCafe.com, as well as the acquisition of CoworkingMag.com.

CoworkingCafe.com offers a seamless experience to research and book coworking spaces in a single app, thereby allowing freelancers, entrepreneurs and digital nomads to check real-time availability of coworking spaces across the U.S.; filter them by

Yardi, an industry-leading property investment and management software development company, recently announced the expansion of its suite of tools for coworking spaces with the launch of CoworkingCafe.com, as well as the acquisition of CoworkingMag.com.

CoworkingCafe.com offers a seamless experience to research and book coworking spaces in a single app, thereby allowing freelancers, entrepreneurs and digital nomads to check real-time availability of coworking spaces across the U.S.; filter them by available amenities; and view 360-degree videos. A powerful app that allows users to research and book desks within the coworking offices of top coworking providers, CoworkingCafe.com joins the Yardi suite of commercial listing platforms that includes CommercialCafe, CommercialSearch, PropertyShark, 42Floors and Point2. Altogether, the suite attracts 2 million monthly visits and generates 300,000 high-quality leads per year in coworking spaces, as well as traditional commercial listings.

Additionally, Yardi also announced the acquisition of CoworkingMag.com, the go-to source for the latest news and trends in coworking. As one of the most popular resources for coworking-related information in the U.S., CoworkingMag.com will further enhance the Yardi commercial network.

Both CoworkingCafe.com and CoworkingMag.com will be integrated into Yardi Kube, a complete platform for all things coworking. Yardi now boasts the first end-to-end software solution for coworking operators and owners who can benefit from the lead generation provided by the Yardi network. Operators can also manage inventory and track conference room and private office bookings in real-time, as well as track accounting and operations with Yardi Kube — an all-in-one platform that manages the full spectrum of coworking tasks. Kube also provides the ability to seamlessly publish listings across the entire Yardi network which is now two members larger, streamlining coworking operations at every level including listings, bookings, lead automation and day-to-day operations management.

Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Nearly 72 million people living and working in the U.S. today are part of what’s commonly referred to as the Millennial generation, which currently represents the most significant cohort of the country’s demographics. And, given their outsized role within the nation’s economy and influence on everything from culture to the social and political spheres, CommercialCafe has made a concerted effort to track their movements and preferences throughout the years.

For instance, prior to the onset of

Nearly 72 million people living and working in the U.S. today are part of what’s commonly referred to as the Millennial generation, which currently represents the most significant cohort of the country’s demographics. And, given their outsized role within the nation’s economy and influence on everything from culture to the social and political spheres, CommercialCafe has made a concerted effort to track their movements and preferences throughout the years.

For instance, prior to the onset of the COVID-19 pandemic, we conducted a study to determine the top 10 most attractive metropolitan statistical areas (MSAs) for Millennials across the U.S. Now, two years later, there have been some major shake-ups in the ranking — from the meteoric rise of San Jose, Calif., to significant drops for Raleigh, N.C., and Denver — along with new entries making their way onto the list.

In revisiting our previous assessment, we followed each entry’s performance across these seven indicators:

NOTE: Due to the rise of flexible working schedules and changes in commuting patterns for employees, the metric indicating average commute time estimates used in the previous iteration of this analysis has been replaced by median earnings for Millennial households.

For more information about our analysis, check out the methodology section. The map below highlights the top 10 metro areas for Millennials, according to this study.

West Coast Metro Areas Hungry for Talent — & Ready to Pay For it

While all of the locations on this list are exceptional in their abilities to attract Millennials, performances vary significantly across most metrics. That said, here’s a quick overview of the leading metros for individual indicators.

One of the first findings that stood out in our study was that the top position for each individual indicator was no longer evenly distributed, with the San Jose, Calif., metro occupying three of the leading spots. In fact, San Jose witnessed the most spectacular shift in the ranking, going from 10^th place right up to the head of the list by earning a total of 77.8 out of 100 points. Most notably, the California metro area boasted the highest median earnings for Millennial households. It was followed by another West Coast MSA (San Francisco), as well as Boston and Seattle.

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However, the largest change in the overall Millennial population was recorded in the Seattle metro, where the number of residents within that age group jumped by 13.7%. In raw numbers, that meant that an additional 80,000 Millennials chose to make this Washington metro area their home between 2016 and 2020 — bringing the total for that age group to roughly 668,000.

Notably, these numbers were also in line with the demographic evolution observed during our previous study, which looked at data for the period between 2014 and 2018. At that time, Seattle also ranked first, with a similar percentage.

Meanwhile, according to the latest data from the U.S. Census Bureau, 17.4% of residents in the Austin metro residents were part of the Millennial cohort, which landed the Texas MSA in the top spot for its share of Millennials within its total population. And, even with all but two of its seven metrics below the ranking average, Austin still managed to maintain its runner-up position in the top 10.

Next, the San Francisco metro — a newcomer to the list — landed in fifth place, gaining notable points for its second-highest median Millennial household earnings. Educational attainment and healthcare coverage levels for Millennials were also within the top three for this California metro area.

In terms of unemployment rates, Salt Lake City metro outranked all other entries in the list. and performed above average across three other indicators — including health insurance coverage and regional price parity.

Finally, despite previously ranking first among the top metro areas for Millennials, the Denver metro had to settle for sixth place this time round. This MSA’s top performances across its demographic metrics — second place for the largest growth in its Millennial population and third place for the highest percentage of Millennials within the total population — were insufficient to garner it enough points to break into the top three.

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The median earning for Millennial households is roughly $150,806 per year across San Jose MSA. As such, they can expect to earn an extra $17,000 when compared to those in San Francisco metro, as well as $44,145 more than those in Boston metro.

Home to Stanford University; the founding campus of California State University (CSU); and California University of Management and Technology (CALMAT), the metro area unsurprisingly received top scores for its educational attainment levels. As a matter of fact, with approximately 61% of its Millennials boasting a bachelor’s degree or higher, only Boston and San Francisco’s MSAs came even close to matching it.

Moreover, according to Bureau of Labor Statistics (BLS) numbers for March 2022, unemployment in the San Jose metro area stood at 2.5%. Although that was only the third-lowest rate among the 10 entries, it nevertheless proved useful in offsetting some of the region’s more modest performances across other indicators, such as regional price parity (ninth place) and its Millennial demographics.

Austin had the most Millennial-heavy demographic among the entries on this list, with Millennials making up roughly 17.4% of the MSA’s 2.3-million population.

Specifically, between 2016 and 2020, the Millennial population in the Austin metro area increased by 12.8% — the third-largest such increase within the ranking. Going by the numbers, that meant an additional 43,000 new residents within that age group chose to live and work in this Texas metro area. Plus, according to a previous CommercialCafe study, the Austin metro area has been especially successful in attracting new residents from in-state rivals Houston, Dallas Fort-Worth and San Antonio.

Furthermore, despite significant rent increases throughout the last couple of years and median Millennial household incomes below the $100,000 threshold, the region’s cost of living remains competitive when compared to other large MSAs: Austin finished in fifth place, outranking Denver, Boston, Seattle, San Jose and San Francisco.

Here, a robust STEM sector — which also boasts one of the highest female participation rates and incomes in this field within the Southern U.S. — has further contributed to making Austin one of the nation’s top spots for people looking to relocate.

As mentioned, Seattle performed exceptionally well in terms of its increasing number of Millennials, landing in first place for this indicator. But, it’s also important to note that the region also had the second-highest share of Millennials within the overall population in our ranking at 17%.

With median Millennial household incomes around $101,000, the Seattle metro landed in fourth place for this metric. It also received additional points for ranking fourth for its share of health insurance coverage among people between the ages of 25 and 34 (72.5%, just below San Francisco).

Clearly, the Seattle metro area has a lot going for it, such as its willingness to invest in parks and green spaces; its dedication to creating an exciting environment for innovation and startups; and more. But, for those considering a move to Seattle, the cost of living might be a complicating factor. That’s because the MSA had the third-worst regional price parity in our ranking, outpriced by only the two Bay Area entries (San Jose and San Francisco).

Salt Lake metro settled in fourth place, pulling ahead of San Francisco after it outranked the California MSA on several metrics. For instance, the Utah metro boasts a larger share of Millennials with employer-based health insurance amid its residents than San Francisco — 73.8%, enough to earn it second place.

Salt Lake also performed better than the northern California metro area for its share of Millennial residents within the overall population. According to most recent estimates, some 16.4% of people living in Salt Lake City metro were Millennials (fourth place).

Most notably, the Utah metro earned the top spot for the lowest unemployment among the ten entries. Its 2.1% rate — recorded as of March 2022 — is mirrored at the other end by Denver and Columbus’ 3.3% unemployment.

Few places exhibit such a clear division in their evolution before and after the internet and tech boom as San Francisco. Once the home of counterculture and independent artists, it’s now become one of the most exciting — and lucrative — destinations for tech professionals. And, with median yearly incomes for Millennials households of approximately $133,778, it’s also the second-best performing metro area in our ranking for this indicator.

San Francisco also gained points for placing third for both its health insurance coverage and its educational attainment scores among its resident Millennials. According to the latest American Community Survey estimates, roughly 72.9% of people between the ages of 25 and 34 were covered by employer-based health insurance, while 58.9% of people within the same age group had earned a bachelor’s degree or higher.

Notably, the California metro area recorded its lowest score across its cost-of-living indicator: It landed in 10^th place behind other West Coast destinations, such as San Jose and Seattle.

The Denver metropolitan area repeated its performances in terms of its Millennial demographics: Once again, it recorded the second-largest gain in residents from this age group (12.8%), bringing the share of Millennials within the MSA’s total population to 16.9% for third place.

However, Denver picked up far fewer points across the remaining indicators this time, with its unemployment rate being its greatest liability. At 3.6%, it was the highest rate of unemployment registered within the ranked metro areas.

Residents here have also felt the squeeze from an increase in consumer prices, as demonstrated by the declining performance of Denver’s regional price parity. According to the Consumer Price Index for Denver-Aurora-Lakewood, the most significant price hikes occurred in used car, gasoline and energy transactions.

Naturally, since the scope of this analysis was limited primarily to demographic and economic factors, we recognize that decisions regarding one’s location or relocation within a metropolitan area are influenced by a wide range of objective and subjective criteria. This includes, but is not limited to: proximity to family and friends; educational opportunities; the local food scene and night life; air quality; public transportation options; and climate.

An active and exciting coworking scene can also be important as it allows many Millennials the flexibility to work in places that meet their needs. To that end, young professionals can further explore various coworking spaces within their city or wider metro area via CommercialCafe.com.

Methodology

To define the Millennial cohort, we used the 25 to 29 and 30 to 34 age groups, as defined by the U.S. Census Bureau.

Points for all indicators were distributed directly proportional to their value, except for the regional price parity and the unemployment rate indicators, for which points were awarded in inverse proportion. Entries could earn a maximum of 100 points.

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“Millennial population growth” refers to the relative difference in each metropolitan area’s Millennial population from 2016 through 2020, according to U.S. Census Bureau data. Values scored represented the change in the Millennial population in five years. The maximum weight for this metric was 15 points.

“Proportion of Millennials” represents the percentage of Millennials of each metropolitan area’s total population. The values scored were based on five-year estimates of the U.S. Census Bureau’s American Community Survey (2016-2020). The maximum weight for this metric was 15 points.

“Regional price parity” (RPP) measures the cost of living in a region by comparing it to a national average, conventionally set at 100. Areas with high or low RPPs typically correspond to regions with high or low price levels for rents. In addition to housing costs, RPPs also cover all consumption goods and services. Values scored were the 2020 Bureau of Economic Analysis numbers. The maximum weight for this metric was 15 points.

“Median Millennial household earnings” includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one person, average household income is usually less than average family income. Although the household income statistics cover the past 12 months, the characteristics of individuals and the composition of households refer to the time of interview. Thus, the income of the household does not include amounts received by individuals who were members of the household during all or part of the past 12 months if these individuals no longer resided in the household at the time of interview. Similarly, income amounts reported by individuals who did not reside in the household during the past 12 months but who were members of the household at the time of interview are included. However, the composition of most households was the same during the past 12 months as at the time of interview. Age group used: Householder 25 to 44 years. Values scored were based on five-year estimates of the U.S. Census Bureau’s American Community Survey (2016-2020). The maximum weight for this metric was 15 points.

“Unemployment rate” highlights the percentage of those unemployed and actively searching for a job. Values scored were 2022 Bureau of Labor Statistics percentages. The maximum weight for this metric was 15 points.

“Millennials with employer-based health insurance” measures the percentage of Millennials covered by an employment-based health insurance plan. Values scored were 2019 U.S. Census Bureau demographic percentages. The maximum weight for this metric was 15 points.

“Millennials in the labor force with a bachelor’s degree” is the percentage of individuals between the ages of 25 to 34 who are active within the labor force and have a bachelor’s degree. Values scored were based on five-year estimates of the U.S. Census Bureau’s American Community Survey (2016-2020). The maximum weight for this metric was 10 points.

We excluded metropolitan areas with less than 1 million residents.

The office, as we all know it, has fundamentally changed. There is a paradigm shift we are seeing across office occupiers where employees are demanding more flexibility and meaningful collaboration opportunities. Employers are racing to find a sweet spot between team productivity, employee experience and real estate costs.

While many companies are pulling back on fully remote work in favor of bringing employees back to the office, approximately 82% of the employers indicate that the requirement for

The office, as we all know it, has fundamentally changed. There is a paradigm shift we are seeing across office occupiers where employees are demanding more flexibility and meaningful collaboration opportunities. Employers are racing to find a sweet spot between team productivity, employee experience and real estate costs.

While many companies are pulling back on fully remote work in favor of bringing employees back to the office, approximately 82% of the employers indicate that the requirement for in-office presence for employees on a weekly basis is either not required or for a maximum of three days per week. This is a huge shift from the traditional 5 days a week in-office with 1:1 employee to desk ratios. This change also puts pressure on employers to provide a meaningful experience and reason for employees to come in.

Realizing the evolving workplace needs of office occupiers and the shift towards flexible work, Yardi and WeWork announced a partnership in April 2022 to bring a hybrid space management app to market. Today the app was launched as WeWork Workplace and is available for companies of all shapes and sizes to take full control of their office strategy and deploy a functional and sustainable hybrid work model for their employees.

As Robert Teel, senior vice president at Yardi puts it “The future is bright for Workplace. We look forward to working with occupiers to enhance Workplace over the coming months and years. Yardi has a 40-year history of customer driven development – we listen to our clients and the market and grow with a changing landscape. The hybrid-work paradigm shift is an incredible opportunity for us to lay the technology foundation for a new style of working, but it is also an incredible opportunity for companies to rethink their real estate strategy.” Teel added.

WeWork Workplace is an app that allows employees to book space across all company locations – leased, owned and flex with an all-in-one platform. Moreover, it gives employees access to WeWorks’ global network of coworking spaces and its affiliates. The platform allows employers to plan and execute a strategic work model that is centered around flexibility and hybrid work.

As Sagar Morabia, senior director at Yardi shared: “With this paradigm shift, 1:1 employee to desk ratios are turning out to be inefficient. On the other hand, employees are asking for more intentional and meaningful collaboration opportunities. So, the ability to optimize the real estate footprint while enhancing employee experience wherever they work from is what WeWork Workplace aims to solve for.”

To give an example, an employee can book a conference room through the app for a team meeting at the company’s base office location, which might be a traditionally leased or owned space, or book a private suite or a desk in a coworking location that may be closer to a client than the base location. Regardless of which option was booked, the team lead could also easily invite their team to a space using the team booking functionality which is in-line with the shift to office time being focused on collaboration and culture.

Through the Workplace App, companies can provide their employees with an outstanding user experience that enables them to deliver the best service to their clients. “For traveling employees, the Workplace app is just as compelling. Book a conference room at headquarters, book a WeWork desk between client meetings on a trip, and host a presentation with multiple clients in a large WeWork conference room.”, Teel added. This unified experience to book workstations across the company’s universal spaces is unique to WeWork Workplace.

WeWork Workplace app is simple to use but also comes loaded with features like team bookings, overflow capacity management and visitor management, which enables meaningful collaboration for the employees. The employer on the other hand can stay on top of the space usage trends, employee preferences and make impactful decisions through actionable insights that the app generates. The platform is the only solution on the market that combines all aspects needed to build, manage and execute workplace strategies centered on utilization and occupancy.

That said, you do not have to be a WeWork customer to benefit from this app. You can use the app to manage the non-WeWork locations to begin with, while having an option to retain the same user experience for your employees if/when you decide to leverage coworking to your portfolio of spaces in the future.

If you are in the process of enabling a hybrid strategy for your workforce, please visit https://www.wework.com/solutions/wework-workplace and sign up for a live demo.