The executive vice president of Elite Building Corp. in Waltham, Massachusetts, Michael Snedeker draws on over a decade of experience in the commercial real estate industry. Among other duties, Michael Snedeker helps to secure financing for development projects in the Greater Boston area.
Mid-rise developments are a becoming a more popular option among commercial real estate investors, as they offer a number of benefits. Generally, they are more cost-effective than high-rise office buildings. The increased demand for mid-rise office space results in a higher profit margin.
Another advantage of mid-rise buildings is that they can enable companies to create a close-knit culture that would otherwise not be possible in a larger space. This can facilitate the development of a team atmosphere and ultimately help to boost retention.
Moreover, mid-rise buildings may enable companies to develop a campus feel and co-working environments. Mid-rise office buildings are also more likely than their high-rise counterparts to feature amenities such as outdoor spaces.