Office amenities are a hot commodity. While the focus, in the wake of the Great Recession, has been on keeping costs down and delivering low bottom lines to tenants, that’s giving way to differentiation through quality, making a building brand essential currency in today’s marketplace.
Colliers International Group Inc. released a white paper last week that highlights the growing importance of shared amenities in attracting and retaining high-quality office tenants, improving tenant retention and increasing overall value. According to Colliers’ analysis, a comprehensive amenity package can create premium value. In fact, when upgrading office buildings, owners should expect to dedicate from 10 percent to more than 12 percent of their portfolios to amenity space, depending on the level of tenants they are looking to attract. Traditionally, only 3 percent of space is dedicated to amenities.
“Though a unique set of amenities is just one factor in an extremely complex market, investment in amenities can make the difference between a vibrant, productive property and one facing vacancies,” Karen Whitt, president, U.S. Investor Services and Real Estate Management Services, for Colliers, said in a statement.
To view the full “Amenities: A Hot Commodity” white paper from Colliers International, click here. To check out the top 10 amenities, click through our gallery.