Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.
“Experiential” is usually associated with retail space, but a growing number of landlords believe the concept has applications in the office sector as well.
Experiential means providing an experience – not just space to work. Landlords now want to provide tenants with a variety of programming such as wellness programs, yoga classes, social programming and educational seminars.
What other amenities do office workers want? How about access to emergency day care, pet care, dedicated ride-sharing areas, refuel services, flower delivery and food delivery.
Keep in mind, most businesses are choosing their office buildings based on which property will best help them attract and retain talent. Landlords also have to keep up with WeWork and other shared office concepts.
It will soon be common place for every large office building to have its own app. These apps will enable property managers to improve the tenant experience via mobile building access, real-time information about transit, mobile discounts and ordering ahead/group orders from retail establishments within the office building.
These apps will also provide the landlord with valuable data to mine, allowing a better understanding of the transactions, amenities and property announcements that engage tenants in a building.
Look for these “experiences” to pop up in the Class A Office Buildings near you soon.
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About Beau Beach, CCIM
Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Prowess IRES which is a commercial real estate broker for sellers in the Nashville, Milwaukee, South Florida and Chicago markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 414.324.4938, 615.603.9770, click to schedule a call or Beau@ProwessIRES.com