How a Build Out Can Attract Commercial Tenants

How a Build Out Can Attract Commercial Tenants

If you are a property owner hoping to attract tenants, today’s economy often demands you take a proactive stance. Of course, marketing and promotion is a big part of attracting new tenants. Promoting your property to the desired target audience is often the first step. You’ll want to let prospective tenants know your property is well-located, and if applicable, what other similar successful businesses have occupied the premises. If potential tenants can appreciate the location, you’ll gain the opportunity to go on to the next steps – demonstrating the versatility of the property’s layout and the potential gain for new tenants in the way of a build out. When it comes to this step, as the landlord, it is in your best interest to clearly delineate the standards of any build out in the lease. Doing so allows you to maintain control of your property and ensuring all the adjoining office spaces complement one another, thus keeping your property value high.

How to Attract New Commercial Tenants

After promoting your property’s prime location – near public transportation, close to bike routes, availability of ride sharing options, you may choose to complete a standard buildout of your property, making it more attractive as you market it toward the targeted well-qualified tenants you desire. In order to move forward, it is important you understand the needs of your prospective tenants and capitalize on that knowledge. Today’s tenants want modern workplaces with a nod to sustainability and green initiatives. The availability of high-speed connectivity is always a priority among prospective tenants in this digital age. All of this means your potential new tenants are looking for modern, creative workplaces that embrace new green building standards and are equipped to handle today’s business demands. Here’s how you can leverage your build out to attract new commercial tenants.

  • Develop your build out with creative spaces that enhance collaboration, create culture, and encourage innovation. Today’s modern workspaces often feature quality meeting spaces and smaller, quieter individual workstations in open floor plans with social hubs.
  • Create a build out with a nod to sustainability. Today’s market demands an increased awareness of environmentally sound, sustainable, green building practices. The green building movement is evolving rapidly, and that trend is expected to continue here in the U.S. as well as globally. Tenants want sustainability, and for property owners it can positively affect operating costs as well as property longevity though the use of energy efficient lighting, ventilation, heating, air-conditioning, plumbing, and state of the art windows.
  • Design flexible spaces. The world of today is rapidly  changing, and your new tenants are likely looking for flexible spaces that can grow and change as their business does. Tenants want spaces that not only meet their needs today, but are adjustable as their needs change – whether than means taking out walls or a completely new build out.
  • Build out smart. If you are building out a space or building an entirely new space, incorporating smart building solutions is a must. This means automated sub-metering systems, fiber-optic wired infrastructure, benchmarking of kWh (kilo watt per hour) and more to track costs, energy performance and consumption.
  • Add amenities. While not necessarily part of an office build out, attractive amenities attract and retain well-qualified tenants and in turn increase the overall value of your property. Amenities desired by today’s prospective tenants include easy parking and access to transportation and  consistent hi-speed internet, and increased security, just to name a few.  Twenty-four hour security is an extremely attractive amenity to have, enhancing the value of your property.

As you consider the potential a build out can have on attracting new commercial tenants, call on the team at Perillo Construction to answer all your build out questions and help you find the solutions you need.