What Tenants Want


by Kim Smith

What Tenants Want – Top 10 KBS Amenities

Property owners know amenities are king. The better the amenity package, the greater overall tenant satisfaction and stronger the leasing figures. But choosing the right bells and whistles is the real kicker as there are so many options ranging from on-site dining to ultra-cool rooftop terraces.  So the million dollar question is: What do tenants really want?

In conjunction with Kingsley and Associates, KBS recently completed an independent survey of its tenants, and one of the questions asked was to rank amenities that were important to their tenancy.  Here are the top 10 amenities, in order:

  1. Common building conference center
  2. On-site restaurant/deli
  3. Fitness center
  4. Multiple internet providers
  5. Overnight mail drop
  6. Online / smartphone work order requests
  7. Electric car charging stations
  8. Free building Wi-Fi in common areas
  9. On-site bike racks / storage lockers / showers
  10. Recycling program

 

What Tenants Want One Washingtonian Gallery 06 300x200 What Tenants Want Crosspoint Gallery 06 300x224

These findings are not surprising and reflects a larger office trend that mimics employee behavior and work preferences. Employees spend more time at the office so it makes sense that conference centers, fitness centers, and on-site food establishments rank very high on tenants’ list. It’s all about convenience and flexibly—what amenities and offerings can help employees maximize their time? Those are the amenities landlords should look at.

What Tenants Want 500 Madison Gallery 14 300x200 What Tenants Want 500 Madison Gallery 15 300x200

What Tenants Want One Washingtonian Gallery 07 300x200 What Tenants Want 201 17th St Gallery 01 14 232x300

KBS is known for its crème de la crème properties—high-end buildings in upscale and bustling locations with luxury finishes and robust amenity packages.  But more importantly, KBS keeps a finger on the industry pulse and makes a concerted effort to understand its tenant mix and provide as many conveniences as possible. This means that KBS conducts extensive research and analysis of each property it acquires to see what tenants want and then configure amenities as appropriate. We are very responsive to their needs to help ensure the best possible work environment.

With that in mind, we’re constantly looking ahead to identify shifts in demand, whether on a national or local scale.  For example, we anticipate that as the movement to bike to work increases, and more hybrid/electric cars hit the market, the importance of bike lockers and electric car charging stations will move up on the list, and at KBS, we’re ready.

What Tenants Want 201 Spear St Gallery 22 1 300x200 What Tenants Want Bellevue Tech Center Gallery 01 300x161

Our commitment to understanding what tenants want, and our flexibility to deliver, are second to none.

 

What Tenants Want Kim Smith B 300x300

Ms. Smith is a senior vice president and director of property management for KBS Realty Advisors responsible for enhancing the value of property operations, including oversight of third-party property managers across the nation.