Landlords are joining the amenities arms race and competing for tenants by redefining how space in office buildings can be best used.
JLL research shows that by 2025, properties that incorporate a diverse roster of amenities will experience 12% higher demand from tenants versus their plain commodity counterparts. Landlords can get the biggest bang for their buck by investing in health and wellness initiatives, hospitality services and outdoor spaces, all of which will increase foot traffic and provide a top-notch experience for tenants, according to JLL’s Global Flex Report.
Today’s office portfolio and asset managers are on the hunt for the most desirable amenities that attract—and retain—tenants. But that’s just one part of the equation. Tenants are emphasizing the value of quality over quantity—it’s not about how many programs and amenity spaces are provided, but how those areas are activated.
The bottom line? The addition of community-enhancing amenities can mean the difference between a vibrant, productive property and one facing vacancies.
Health and wellness centers and programs
One-third of the workforce does not have access to any amenities supporting their health and wellbeing—and they’re craving it, according to JLL’s Regenerative Workplace Report.
Expectations of buildings in terms of health and wellness are higher than ever. As fitness has expanded beyond the physical to mental wellbeing, robust office-based initiatives are needed to support tenants. Offering classes that are intentionally designed for relaxation, stress reduction or meditation is one component to expand traditional wellness strategies.
Chicago’s Aon Center Peak Fitness Center is a prime example—providing 15,000 square feet of space for community events centered on a culture of wellness, with over 2,000 people taking advantage of the space with year-long memberships—more than 22% of the building’s employees.