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5 minutes read
September 7, 2021

6 Ways to Attract Commercial Real Estate Tenants

The best commercial tenants are looking for the best commercial property. Learn how you can stand out in a saturated market. 

In an increasingly competitive space, CRE leaders are ramping up their efforts to attract the best commercial tenants in the market. For many companies, office space influences the type of talent they are able to attract. As the workforce becomes younger and more tech-driven, property managers need to consider how to modernize the office experience to meet the expectations of a new generation of employees. 

For most properties, this means leveraging workplace experience platforms like Lane to create a seamless experience—or as we like to call it—a remote control for the office. But renting out commercial property is about more than just tech. It’s also about providing a high-quality experience that makes tenants and professionals feel valued, secure, and cared for. That could mean providing perks and discounts for events and experiences, or removing pain points like key cards and fobs (or both!) 

Whatever tools you choose, it’s clear that providing a modern workplace experience, along with additional perks and benefits, can go a long way in helping you find and retain high-quality commercial tenants. Below are some tips to help you make it happen. 

  1. Consider a Digital Perks Program 

In the wake of the pandemic, the workforce is becoming more and more disparate. It’s not uncommon for teams to work all across the city, or even the country. As a result, offering in-building perks and amenities exclusively is quickly becoming a thing of the past. In order to attract and retain quality commercial tenants, your building needs to offer perks that can reach a wide range of professionals—no matter where they are. 

A digital perks program—like Lane Perks—can address this problem. By offering a web and mobile solution that gives professionals access to discounts on products and experiences, you can give your tenants a VIP experience—whether they’re in the office or not. Digital perks programs operate on an online platform, so they’re inexpensive to implement and can be accessed from anywhere. Not only that, programs like Lane Perks have something for everyone—including discounts on movies, restaurants, travel, museums, sporting events, and so much more. 

Offering a full range of events and activities at discounted rates for members brings enormous value to tenants, and is an incredible way to incentivize commercial tenants to renew their leases. 

  1. Offer a Modern Experience to Attract the Best Commercial Tenants

The modern professional uses an app to plan their commute, monitor their health, and even track their sleep. Why wouldn’t they use an app to help them navigate their workplace? 

In a competitive market, finding tenants for commercial property is all about meeting the standards of the new, modern professional. By implementing a workplace experience platform like Lane, you can meet professionals where they’re at by providing seamless online processes for every touchpoint imaginable—from room and amenity booking to touchless, keyless entry—all accessible from a mobile device. Not only does this make the office experience more enjoyable for employees, it also removes unnecessary administrative burdens on management staff—freeing up time for work that matters

The modern professional uses an app to plan their commute, monitor their health, and even track their sleep. Why wouldn’t they use an app to help them navigate their workplace?

  1. Adapt to New Hybrid Work Models 

There’s no denying that the work-from-home revolution has completely changed the way we think about work. As COVID-19 restrictions begin to lift, more and more companies are switching to a hybrid model of work, as a majority of employees want to keep working from home for at least part of their work week. Because of this shift, property management needs to adapt to these new modes of working in order to retain their commercial tenants. 

So what does the hybrid model look like in a traditional office? 

In the future, we predict that the Space as Service model will become essential for CRE. Space as Service is about offering flexible workspaces that can be booked according to individual schedules and needs, and that are focused on providing adaptable spaces for collaboration and community building. 

A workplace experience platform makes flex spaces possible by giving employees the ability to book hot desks, offices, or meeting rooms, all with the click of a button. Additionally, platforms like Lane give tenants the power to easily organize, promote, and book events, workshops, and team building exercises—no matter how dispersed their workforce is. 

So what does the hybrid model look like in a traditional office?

By using tech to create flexible spaces in your building, you can establish a thriving, connected work environment, while still giving workers the autonomy they desire. 

  1. Stay Aware of Ongoing Safety Concerns 

When the pandemic hit, offices had to reckon with never-ending adjustments to ensure they met the latest standards for personal safety. From implementing social distancing measures, to ensuring a touchless work environment—management had to constantly assess (and reassess) which measures made professionals and staff feel comfortable. 

While the pandemic has (hopefully) subsided, offices should leverage this experience to prepare themselves for potential disruptions in the future. A simple way to do this is by implementing features like touchless entry, which allow employees and guests to enter the building via QR code, bluetooth, and/or electronic leashing. Implementing mobile access is a win-win—it frees tenants from pesky keycards and fobs, and protects them from germs at the same time.  

Not only do automated entry systems effectively address health concerns, they also do wonders for visitor management. Platforms like Lane allow guests to receive and accept mobile invitations, and confirm their identities before entry, creating a more secure and controlled environment for your tenants. 

  1. Take a Sustainable Approach 

The increasingly millennial workforce doesn’t just want a tech-friendly workplace—they also have serious and growing concerns about the impact their office has on the environment. It’s no wonder studies show that modern tenants want to invest in space that is both economically and environmentally friendly. 

Buildings can consider a number of factors to reduce energy costs—such as switching to more energy efficient appliances and investing in smart thermostats to more efficiently heat and cool the building. To make an even more drastic change, buildings with the infrastructure to do so should consider renewable energy systems to power their buildings, such as wind, solar, or geothermal systems. The power created from these systems can even be sold to local municipalities—presenting a potential new source of revenue for owners. 

Not only do these solutions reduce energy costs, they also keep tenants happy by making an active effort to reduce the carbon footprint of CRE. 

  1. Ensure Your Tenants’ Voices are Heard 

Feedback matters. And with the data and analytics capabilities available on workplace experience platforms, not only can you collect key insights to learn more about how tenants use your space (and adapt accordingly), you can also use features such as in-app polls and surveys to directly collect qualitative feedback from professionals working in your building.

Additionally, workplace experience platforms make it easy to communicate to specific groups (or your entire building) via email, SMS, or notifications across multiple channels—whether it be in the app or on a building screen. Seamless communication means you can reach your tenants faster and more effectively, helping them better connect to the workplace. 

Staying connected and in constant communication with professionals in your building has never been easier. And beyond creating ease and efficiency, tools like these help you retain tenants by ensuring that their voices are heard.

Lane can help you manage your commercial properties. Request a Demo today.

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