Richmond, Va. (PRWEB) December 16, 2014
For the first time since the recession, Allegiancy wrote and published in its blog earlier this month, many landlords of commercial office buildings are spending lavishly on holiday decorations, allocating more than $1 million per building in some cases, according to a recent New York Times article.
In particular, the Durst Organization, which owns several office towers across New York, including One World Trade Center, 1133 Avenue of the Americas, and 114 West 47th Street, has been working for more than a year on upgraded holiday decorations.
Helena Durst, vice president of the company, explained that the timing was right to rethink their office building holiday strategy.
"Ms. Durst explained that the concept behind their enhanced holiday decorations is “hygge,” a Danish term meaning a sense of warmth, welcome and comfort that comes from sitting by a fire with friends during the dark Scandinavian winter," Allegiancy, a Richmond, Va.-based commercial real estate asset management firm wrote in its blog.
While the business world has long acknowledged the importance of holiday decorations to attracting shoppers to retail buildings of all sizes, today, many non-retail businesses are also embracing holiday decorations for reasons along the lines of “hygge.”
Some business leaders believe that office Christmas decorations provide incentives, encouraging employees to come to work more during the holiday season. They say a festive, fun environment enhances team-building, leading to greater unity in the workplace.
Following that motivational theory, Christmas decorations at the office can act as a reward for employees, making them feel valued for their contributions throughout the year. Others say decorations foster a relationship between staff and “the company,” which ultimately can help lower turnover.
But in our litigious world, some of you may wonder, “What if my holiday decorations offend someone?”
In a recent article in the Richmond Times-Dispatch, lawyer Karen Michael advised: “Employers can get more mileage by decorating and making the workplace festive, than avoiding these activities for fears of complaints or lawsuits.”
Ms. Michael reminds us that as long as employees are not required to participate in religious activities, simply decorating and showing support for a holiday helps keep an office festive and does not violate Title VII.
"As the asset manager for millions of square feet of office space around the country, I believe that Christmas decorations can be a low-cost, high-impact way to boost morale and create a greater sense of community at work," wrote Steve Sadler, Allegiancy CEO. "But for me, the reasons to decorate are more personal than increased sales or productivity. I love beautiful things — they make me smile. When I see lights on a Christmas tree or building, it calls to mind all of the best things in our society: generosity, compassion, caring and sharing with others. When I think of those things, I am reminded of the Light of the World, Who came to earth. And that really is worth celebrating."
Allegiancy is changing the business of asset management for commercial real estate owners and investors. With an advanced technology platform and singular focus on serving as the owners’ advocate, the company brings fresh vigor to an often poorly understood business. Combining its proactive Value Assurance? operational rigor with an intense focus on cash flow and profitability, Allegiancy is expanding on a track record of more than four decades of success.
Headquartered in Richmond, Va., and led by a team of seasoned professionals and more than 100 years of experience, Allegiancy manages properties that have outperformed their peers by 45% since 2006. The company has more than $300 million in assets under management (AUM) and delivers clients attractive returns and profitable, hassle-free investments in commercial real estate.
More information about Allegiancy may be found at http://www.allegiancy.us.
To schedule an interview with Allegiancy’s leadership, contact Audrey Bevel at audrey(at)allegiancy(dot)us or 866.842.7545 ext. 204.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Allegiancy, LLC’s (the “Company”) present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the offering circular dated January 14, 2014 and filed by the Company with the U.S. Securities and Exchange Commission on January 15, 2014. The offering circular, and any supplements or updates thereto, is available on the EDGAR system located on http://www.sec.gov.