The Value of Amenities
Discover how to make your buildings a place tenants want to be
It's Time to Win Back the Commute
Your tenants want to provide a workplace their employees want to come to every day. That means they’re looking to CRE owners and operators as partners to meet those goals.
The workplace is moving away from traditional. Your tenants need to give their employees a reason to return. Simply put, the building must provide a better experience to woo workers away from the comforts of home. That’s where amenities come in.
What Tenants Want
The impact of the Great Resignation accelerated the need to prioritize workplace amenities on an individual employee level. Why? Because it’s easier than ever for employees to quit jobs and seek other employment that provides everything they want.
Research from JLL shows that employees want workplaces that include:
Relaxation Spaces
The percentage of people who cited relaxation space as important to restoring their wellbeing and achieving sustainable performance.
Healthy Food Services
Additionally, changing working patterns means food availability at various times of day must be considered. But this doesn’t only mean what's available to eat. The surrounding environment’s food and beverage options play a huge part.
Outdoor Spaces
Nature and outdoor spaces relieve stress, boost wellbeing, bring happiness, and in the workplace, can build job satisfaction.
Source: Regenerative Workplace report from JLL
Current and potential tenants are looking to commercial property teams to provide them with the tools to get their teams back to buildings. But with almost 60% of workers in the U.S. working from home1 all or most of the time, according to Pew Research, what’s going to get them back to your buildings?
Companies today can’t compete for talent by offering the status-quo, pre-pandemic workplaces. And smart companies have gone all-in on focusing on the employee experience2 during the Great Resignation.
To help your tenants meet their goals and stand out among your own competition, it's important for CRE landlords to focus on offering a great workplace and tenant experience.
The Struggle is Real Landlords will struggle, however, when it comes to identifying other key demands from tenants and employees due to a lack of ongoing communications.
Only 12% of landlords work closely and collaborate with tenants on their long-term workplace strategies, according to research from HqO. The landlord-tenant relationship is not established enough to keep ahead of industry trends and evolving needs. But that means there’s a huge opportunity for CRE leaders to bridge the gap by connecting and engaging with tenants on a continuous basis. (Learn how to do that in Chapter 2.)
Sources:
1 Pew Research | 2 Medallia
60%
of workers in the U.S. are working from home all or most of the time
50%
of companies want employees to return to in-person work full-time in the next year
Sources: Pew Research; Microsoft
52%
of workers say they are thinking of switching to a full-time remote or hybrid job
60%
of workers in the U.S. are working from home all or most of the time
50%
of companies want employees to return to in-person work full-time in the next year
Sources: Pew Research; Microsoft
52%
of workers say they are thinking of switching to a full-time remote or hybrid job
The Pillars of Tenant Experience
Making your building a place tenants want to be is key to establishing the best tenant relationships. Tenants today want to offer their employees amenities as incentives. They are looking to CRE property teams to help them meet those goals. Here’s how you can help.
Workplace Services: Offer on-demand access to services in the workplace such as dry cleaning, parking, electric vehicle charging, mailboxes, and end of journey facilities.
Entertainment: Keep engagement up with centralized content and booking of fresh entertainment options including classes, events, sports tickets, tasting events, and more onsite.
Food & Beverage: Nourish tenants with app-based order-ahead features for food and beverage, simple pay solutions, detailed neighborhood restaurant guides, and easy food delivery.
Mobility: Eliminate commute frustrations with shuttle service updates, shuttle tracking integrations, and bike rentals.
Security: Offer tenants peace of mind by putting secure access control, visitor management, safety and security incident communications, and updated building news directly in their hands via our mobile app.
Accessibility: Meet accessibility needs with on-demand information about ramps, elevators, and service access information for each property in your branded app.
Sustainability: Support sustainability with centralized LEED/WELL certification information, details about wellness events and community events, and coordinating participation in CSR and volunteer events.
Wellness: Keep tenants productive and healthy with wellness solutions such as fitness classes, mindfulness, fitness facility details, and neighborhood fitness discounts and memberships.
By the Numbers:
The Amenities Owners are Spending On
Many commercial building owners are spending big on adding amenities to attract tenants. Here’s a roundup of what some are spending their money on.
Source: Bisnow
$120M Fisher Bros.
- new art installation in the public space that features a fine art performance viewers can access through an app they can access on the free WiFi in the public park by the building.
- new amenity floor with a tenant lounge, wellness center, and hybrid meeting spaces
$40M Nuveen Real Estate
- new park
- gym and wellness center
- café work lounge
- new conference rooms
$25M Aby Rosen’s RFR Realty
- basketball court
- rock climbing wall
- town hall space
