Why Amenities and Tenant Mix Are Critical in an Office Building

The office is no longer just a space where employees show up for work—it is a place that sets the culture of the business, and the wrong work environment can contribute to employee turnover. Here, we will explore the issues of building amenities and tenant mix, both of which should be taken into account before you sign a lease.

The Era of Perks & Amenities

Amenities can include lounges, workout rooms, security, assigned parking, small stores, and cafeterias. Many tech companies now look for buildings that have multiple food options, or even pay for their employees' meals while at work. With the shortage of technical workers in today's market, this is one way businesses can attract and retain employees, as it saves employees money and offers the convenience of getting lunch on site.

At our company, Compass Commercial, we recently completed a transaction in an expensive office building, where the business owner realized that their ideal location and useful amenities would make more candidates inclined to work for them. In this case, the building had a workout facility, a game room, putting greens, and a cafeteria. The higher rent cost was considered part of the cost of recruiting the best talent.

Know Your Neighbors

While touring, another very important component to take into account is the tenant mix. Most prospective tenants are simply checking to see if their competitor is in the building.

Evaluate if the building has an ideal clientele. For instance, I'm in a building that is 75% law firms. Most of the firms deal with business issues rather than criminal matters. While there are no free gyms or game rooms at this location, there is an excellent cafeteria and free covered parking, both of which are important amenities for people who must leave the building frequently throughout the work day.

Your Space as a Recruiting Tool

When you are touring for a new office, really think about the image your firm wants to project in advance. As you walk through the prospective offices, are tenant doors locked? Do the bathrooms need to be cleaned? Are the people in the building smiling and talking to one another?

Make sure to check the tenant register, which can often be found next to the front door, to determine if your business is a fit with the other businesses. Finding the right staff for your business is what keeps the business going, and that starts with the right location to attract and retain the best staff.

About the Author: Lynn Drake
Lynn Drake is President of Compass Commercial, as well as the author of Do You Speak Lease?