Enjoy this preview and perspective from our own Chief Growth Officer, Mike Flanagan, on building spaces that satisfy both owner and occupant expectations… full article coming soon!
If you build it, will they come? Maybe not. CRE developers need to create spaces with their end users in mind and activate those spaces in a way that attracts tenants.
Since Covid, the CRE user profile has changed drastically. The primary focus now is getting tenants to show up in the office, every day. But competing with the comfort and flexibility of a work-from-home landscape can be a challenge, so how can developers and landlords ensure they’re building the right spaces?
Know your customer. Use data to build out a psychographic profile of the end user. Figure out what amenities and comforts are important to them, and create spaces with those top desires in mind. With their clearly defined customer in mind, landlords can build the kind of spaces their tenants want to be in.
Look to hospitality. Hotels redefined hospitality by heightening customer experience from the moment guests entered the building. To attract their target population, commercial real estate owners can look to the hotel playbook to heighten the experience and make it immersive from the lobby and beyond.
Activate the spaces you build. Building a desirable space is only half the battle. The real magic happens when we activate spaces in a discernibly special way. Right when your customer walks through the doors, target them with experiences of what I like to call, “attainable luxury.” Cater to them. Create a customer-centered experience and maximize connections with them from the first touch to the last.
What are some additional ways that CRE developers can cater to individual users of their spaces? Let’s discuss in the comments below!
For more insights on building the right CRE spaces, stay tuned for my upcoming Forbes article where I offer additional tips and strategies on defining and targeting customer populations.