For those looking to make value-add investments in office buildings, the change in desired amenities is something to keep an eye on. Though there is a growth towards co-working spaces and an increased demand for tenant amenities. It’s important to not overlook the building’s infrastructure especially how is the Wi-Fi coverage. This recent article highlights the importance of having a strong signal, Cellular Coverage: The Next Must-Have Amenity
Fitness centers and coffee bars are not the only features owners are looking to include in their office buildings. As more companies depend on seamless internet and cellular connectivity to conduct business, offices need to have the necessary infrastructure to support them. A recent report on millennials found that 96% of those surveyed rated mobile phones as the most important item used in their daily lives.
In a fast-paced, digital economy, reliable connectivity can be the difference between growing as a company and being outpaced by competitors. In a survey from WiredScore, 72% of office leasing decision-makers said it is critical to have reliable internet connectivity in their office space, and more than half said they would not consider renting the space at all if they knew it possessed poor connectivity infrastructure.
It definitely is something to keep in mind, especially those looking to invest in value-add plays on older suburban office buildings. Amenities and infrastructure, you need them both.