In the first part of our series on increasing the Return on Investment (ROI) of commercial buildings, we discussed lowering operating costs and reducing your risk of legal liability. In part two, we discussed how to make your rentable spaces more presentable through white boxing and spec suites. In this final installment, we’ll discuss some of the amenities you can add to your building to increase its value.
Amenities that Sell
In addition to making your rentable spaces clean and presentable, your building also has to have the amenities that prospects are looking for. We’ve written before about the amenities that are most attractive to today’s tenants. The most important thing to realize is that these don’t have to be overly expensive to add a lot to your bottom line.
For example, one of the most current and trendy amenities is bike storage rooms. Those are a big draw for fitness buffs and eco-conscious employees, but they don’t have to be an expensive feature. A basic room — with easy-to-clean floors — and some storage racks. If you want to get really fancy, place the bike storage next to your restrooms and add in showers.
Another popular amenity is conference and training rooms. If you’ve got a space in your building that’s difficult to lease, consider turning it into a training room for tenants to use. Include wiring it for separate training and conference internet and add a big screen TV and some simple tables. A lot of prospects will see that as a great amenity, as it’s space that they only need infrequently. These spaces can then be used for activations or even rented out to groups for larger events, especially if you include kitchen/catering facilities.
One of the newest amenities that we’re seeing building owners add is plug-ins for electric vehicles. For a growing portion of the population, this is a must-have perk. Moreover, you can often get the electric plugin company to pay for it, since they’ll be making money whenever the plugs are used. It may not cost too much money to get an amenity that will set your building apart from the rest.
Done right, these amenities will help you attract new tenants and close leases that you might not have otherwise. Plus, the money that you spent to build the amenity can often be recouped in the form of higher rents.
Designing a Higher ROI
Here at PlanForce, we obsess about the ROI and marketability of your building. Every day our team works with property managers to get deals done and leases signed. We understand that good tenant improvement deals balance the tenant’s desire for a unique space design with the building owner’s need to protect the long-term value of their real estate assets. Contact us today to see how PlanForce can help you grow your property’s ROI.