Property Managers, Now is the Time for Built-In Community Spaces

CRE Property Managers 2

According to an article from Allwork, 83% of employees using co-working and other forms of flexible space claim to have benefited from these new work environments over the last 5-10 years. The same article shared that by 2020, 50% of large companies will have some form of shared office space. Dedicating areas for community space in the office is a trend we’ve all been watching as employers realize their success. Preconceived community spaces in commercial real estate buildings that are already built in and ready to go, however, are just beginning to take off as property managers catch on.

Property management has grown tremendously over the past decade. As tenants look toward a more concierge-style experience, serving clients and their exceeding expectations is paramount. Property managers need to create an environment for the human experience to thrive.
— Bisnow

Hospitality considerations for tenants are becoming a necessity for retention. Now that on-the-go, collaborative millennials are moving in, user experience is the key to promoting creativity. Megan Matthews, Mid-Atlantic managing director at commercial real estate advisor JLL, says ten years ago, wellness initiatives like yoga classes, for example, were the sole purview of employers but would have been unheard of in commercial real estate. But as the workplace continues to adapt to the demands of a more experience-seeking generation, property managers will follow suit. CRE property managers, now is the time to focus on using space as a service and building these amenities into the floor plan!

Read more in this excellent Bisnow article. If you are a property manager in search of where to start, reach out to us at Chasing Nirvana Yoga. We offer on-site yoga and wellness classes ideal for any community-serving property.