Access to high quality internet is key; without that, today’s office doesn’t work.
“Tenants want an assurance that their building’s infrastructure will meet their connectivity needs in the immediate, but also in the future, regardless of whatever technological leaps are in store for their business down the road,” says Arie Barendrecht, WiredScore’s founder and CEO.
After location, the second most important factor in a tenant’s current space, according to a study by Radius Global Market Research and WiredScore, is the quality of internet connectivity. When it comes to evaluating future space needs, connectivity takes pride of place, with price and location ranked second and third in priority.
Each tenants’ specific requirements will vary: some want Starbucks, while other want Dunkin’ Donuts. The consistent component is area amenities, solid infrastructure, and easy access.
Banker & Tradesman takes a look at the factors that are driving tenant sentiment towards a property, noting, “clearly, cost comes strongly into play, but the financials are often very competitive. The decision may thus be swayed by the physical attributes of one location versus another. How can older or “dated” looking buildings be repositioned for maximum appeal? What are savvy landlords doing to their buildings to attract and retain good-credit tenants?”
B&T outlines a full list of attributes that factor into tenant satisfaction, including amenities, aesthetics, and sustainability. The article is available on the Banker & Tradesman website.