Published on July 14, 2021 by: Adrian
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ArticlesNews
Since 2020, the world of commercial real estate has changed drastically. Now that companies are adapting to a new way of doing business, their real estate properties are one of the biggest items they’re looking at regarding what should be changing. So what does that look like for commercial real estate businesses? Let’s take a look.
In a world that is still partially under lockdown in some places and open in others, businesses are naturally looking for solutions that will cut costs. And, to be honest, most businesses are always looking for cost savings. One of the most significant areas they will look at is whether to continue to invest in a commercial real estate property for their daily operations. Statistics show that 1 in 4 Americans will be working remotely full time in 2021 and possibly beyond. As a result, many companies are opting to keep their business operations remote indefinitely or adopt a hybrid model that would allow their employees to work from their homes a portion of their workweek. This is one of the most significant factors in the trend you’ll see in commercial real estate over the next three years.
According to a survey by CBRE, more than half of the investors they surveyed claimed that they believe the demand for commercial real estate will decrease at around 10% or less over the next few years. Depending on your perspective from within the Commercial Real Estate community, this news can be both good and bad. So, how can you prepare your CRE properties to retain quality tenants should this happen? RealDash has some ideas.
If there is anything business owners have learned over the last few years, nothing is guaranteed. As they look to move their daily operations to a different space, they’re naturally going to be more hesitant than they would have been five years ago. Flexibility is key here. Now more than ever, quality tenants are looking for quality lease agreements that offer a low-risk incentive. This can look like reconfiguring the space to fit their needs better, offering shorter-term lease options, or providing amenities that their employees are looking for, like access to a gym or an onsite coffee bar. Do what you can to seal the deal and build trust with your potential clients.
If your property has only ever worked with a specific industry, try branching out! New business ventures get started every day, and they all need a space to work and grow! Your property has the ability to help them get where they need to go as they expand. We recommend you take a look at what makes a quality tenant and focus on attracting those clients instead of focusing on a specific industry. Even when your property seems to be struggling to find tenants, remember: there is always an opportunity for your CRE property to have a second chance at life. This is how many malls are overcoming a challenging future and transforming their spaces into micro-warehouses just by catering to businesses that they hadn’t considered before, like doctor’s offices, fulfillment centers, and other vendors.
As you’re trying to prepare your property for long-term success and attracting quality clients, it’s essential to invest in tools that will do the hard work for you so you can focus on closing deals. Working with an all-in-one platform like RealDash will ensure that your business stays on top of productivity and keeps your rent rosters full. Our platform is fully customizable for your needs, like automating your marketing materials from your website, email campaigns, and brochures—a vital step in our perfect marketing formula for CRE properties! You’ll even have access to custom analytics and reports that will provide transparency to your clients, partners, and investors, creating an unmatched reputation for your business.
Utilize the marketing features of the RealDash Commercial Real Estate all-in-one platform, and your business can reach maximum potential. From your deal website, brochures & email campaigns to detailed analytics and research, grow your CRE business using RealDash. Schedule your demo today!
