It’s no secret that the success of any physical building — a retail store, multifamily property, office complex, etc. — is driven by the people that use it. The customer, the tenant, the workforce, the users of the buildings — they are what drive business and commerce, and it’s their ease and enjoyment of use that measures how successful a physical property is.
As such, there should be a shift in the physical property realm to putting people first. Similar to the service industry, where people come first, commercial real estate could gain quite a bit from paying attention to those that use the spaces. And, while we would love to take credit for this idea, this shift is due to a cumulative impact of several forces: the wave of Millennials changing everything from workplace culture to retail and shopping trends, proven upticks in the economy, and new trends in leasing space that challenge the traditional models.
What’s more, thanks to technology, people have become used to an elevated and personal experience that is relevant to them. Think about it — we’re used to talking to technology and receiving instant answers (we’re looking at you, Alexa), getting things almost instantly through same-day delivery (thanks, Amazon), and we expect to be instantly rewarded for interacting with brands.
So how can we keep this people-first approach (and the expectations of today’s tenants) front and center when engaging and communicating with the people that use our buildings? It may surprise you, but technology is at the heart of the answer.
A New Approach to Tenant Engagement
Having a people-centric focus in your building is beneficial for everyone, and will always give you a leg up over the competition. It’s only natural — property managers who consider the people who work in their space, rather than simply focusing on the space or overall occupancy rate, will naturally build an organic relationship with their tenants, allowing them to make smarter decisions with a better ROI and attracting more tenants.
A great example of this concept is The District, located in Burlington, MA. The building owners made changes to their building to meet the demands of their tenants, giving them what they want — community, luxurious and convenient amenities, green space, access to transportation, and more. The District boasts 1.3 million square feet of premiere workspace, a variety of high-end restaurants, and walkable open space in one of the best locations in all of Boston.
This is a great example of how workspaces (and in many markets, retail spaces) have become more lifestyle-focused to increase the tenant’s enjoyment of the physical space.
But it goes farther than this. Technologies like Mallcomm help building owners, managers and developers create a community of people through added value, personal content, and other features that interest people within the community, such as chat, news, travel and weather info, local offers, food and services ordering, and more. It takes the enjoyment of the physical space into a 21st-century world that is tech-driven.
Making Community Work for You
What’s more, technology can elevate the tenant and customer experience further thanks to a seamless physical interaction with the building. Think about security access, environmental controls, parking management, meeting room booking, etc. Platforms like Mallcomm are putting all of this into one easy-to-use platform that is revolutionizing the way people can interact with physical space.
Michelle Buxton, CEO of Toolbox Group explains: “Engagement is one of the best ways to create a community feel in your building. In today’s world, people want to be connected to everything — this makes them feel something towards places. Engagement is basically a really effective form of communication. So, with our technology, we have focused on how to elevate both the means of communication and also what we communicate, to make people feel connected and belonging to a place. It all adds value to the location and lease in so many ways.”
To find out more or to get started in creating a place where people love to work, feel free to contact us today.