Looking for ways to enhance an asset I just picked up and would love some input as I formulate my strategy.
The property is the Executive North Office Park. I'm working on new marketing right now, but here's property's website for reference. http://www.executivenorthofficepark.com/
It's a four-building 90,000 sf office park at 86th and Guilford in Nora. The common areas were renovated over the last three years and it already has a shared 50-person conference center for tenants free of charge.
What other amenities stand out to business owners or clients you're touring? Fitness centers? Self-serve Cafes? Outdoor experiences like Jenga or shuffleboard?
Has anyone done the legwork to examine tradeoff of adding some of those amenities versus decreasing the RSF of the asset?
All input welcome.
I think your onto it with your initial suggestions; however, like most things, it's cost perspective/ROI. Obviously, some of these amenities are not quantifiable; however, it's a good place to start.
Further, I would look at office parks for employers especially with good employee ratings (Roche off 96th, Eli Lilly, what Infosys is proposing, etc.). The fitness centers and self-serve cafe food (Salesforce) are some of the biggest amenities especially if healthy organic foods (plays hand-in-hand with the fitness center). Healthy, happy employees take less sick days and are more productive. Plays for the long-term.
I like where you are going on this and think it can set your property apart from the other office parks. A client I am working with right now hires young engineers for a construction industry and part of every tour is to explore the walkability and it has to have a walking path that extends beyond the complex. It was weird at first but you can't imagine how excited he was and willing to pay a premium at the building that seemed to be a perfect fit for getting outside and stretching their legs. Good luck on leasing your buildings and I am sure the landlord loves that you are thinking outside the box.