As the commercial real estate landscape changes, SIOR members persist at the forefront, navigating future trends and seizing new opportunities. Recently, SIOR office specialists had the chance to visit Ledger, a “Destination Workplace” redefining the possibilities of office real estate. They shared with SIOR their insights into how the building’s innovations can reshape the way we envision the future of workplace design. 

Feature Images Copyright Callaghan Horiuchi

Nestled in the heart of downtown Bentonville, Arkansas, Ledger isn’t just an office building — it features a bikeable design, dynamic workspaces, art installations, and an array of amenities reflecting a focus on sustainability and community engagement, challenging the way we look at shared workspaces and how functional buildings can add value to our localities. 

Putting Your Tenants First: Flexibility & Community-Focused Design 

Clinton Bennett, SIOR, principal broker at Bennett Commercial Real Estate and vice president of the SIOR Arkansas Chapter, emphasizes the significance of Ledger's flexible workspace model. "By providing flexible workspaces, the diversity of the tenant base creates a more interesting and stimulating work and networking environment," he notes. This approach, he explains, allows for incubation and scalability, fostering an environment unencumbered by static premises or long-term leases. Essentially, Ledger's identity as a flexible workspace poses a challenge to real estate specialists: to reimagine tenant-centric designs that foster adaptability and growth, crucial elements in the flight to quality for office spaces. 

SIOR Global President David Lockwood, SIOR, executive vice president and COO at Colliers International, agrees with Bennett’s assessment, also believing that increased flexibility in the workplace promises an environment more fulfilling for tenants. Reflecting on his recent visit to the building, Lockwood shares that “gathering spaces throughout the building created an exciting environment where employees and staff developed relationships.” He concludes that this sense of community within a fun and engaging space can provide a glimpse into the future of dynamic and multifunctional offices. 

Shifting the focus to Ledger's bikeable design, Bennett accentuates the invigorating experience it offers. He cites the bikeable ramp and art installations as features that draw residents, tourists, and tenants to the building. “It creates an opportunity to have an invigorating experience that, combined with the amazing views that improve with each story, enhances the day of both visitors and tenants," he marvels. 

The official website for Ledger in Bentonville touts it as a “Destination Workplace” and a “natural extension of the Bentonville community.” The building’s creators observed that traditional office spaces, particularly with the emergence of the hybrid office model, weren't fully maximizing their local impact. After gathering feedback from the community, developers recognized the need for more than just an office building; they aimed to establish a dynamic city center. 

According to Lockwood, they succeeded— Not only is Ledger now a gathering space for bicyclists from the entire community, but an architectural marvel that represents a “critical component in a city and community focused on protecting and enhancing the city workplace.” As a gathering point for bicyclists and a symbol of communal sustainability efforts, Ledger demonstrates the positive impact a single building can have when aligned with broader city-wide goals. 

“When everyone works together with a common goal,” Lockwood remarks, “the community and its residents are the winners.” 

Tenant Retention: How Amenities Keep Tenants Pedaling Back 

Secure storage, e-bike charging, and showers at Ledger go beyond mere conveniences. "These amenities create opportunities for occupants to improve their mental and physical health," Bennett states. He adds the increased probability of some workers foregoing car ownership or commuting via cars, thereby subsidizing the cost of living in downtown Bentonville. The potential reduction of traffic congestion aligns with net-zero goals, Bennett continues, pointing to a future where more offices could create a positive impact by prioritizing such sustainability initiatives.

Lockwood underscores the significant impact of tenant-comfort amenities on employee retention. He notes that companies selecting Ledger as their office space signal their commitment to employee well-being; their decision reflects not only a dedication to talent recruitment, but also a resolute effort to cultivate a workplace culture that prioritizes and values its workforce.

Lessons Learned: Replicating Ledger's Success 

The question arises, however: Is this a model that can easily be replicated? Bennett acknowledges the challenge of upfront costs but suggests government subsidies could be a catalyst. He believes that discussions at the Federal and State level about the true value of buildings like this — including advantages such as reduced car trips, improved business outcomes from healthier workforces, and increased opportunities for startups — might enable developers to construct (or redevelop) buildings that create “a true sense of place." 

The challenge for real estate specialists lies in combining flexibility, community engagement, and sustainability to craft offices that transcend conventional norms. The minds behind Ledger hoped to avoid empty silos associated with the traditional workspace model. Ledger, then, is more than a building where people come to work; it's a blueprint for a new era in office spaces, where innovation and thoughtful design can encourage collaboration, prioritize tenant well-being, and foster a true sense of community. 

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