This past October, NELSON’s Melissa Whitehurst sat down with The Source to share her expertise on utilizing space measurement and management to effectively measure the value of single-tenant assets being reimagined as multi-tenant assets.
She shared some key considerations and strategies that building owners and developers successfully transform their properties.
One | Understanding a Buildings Potential
Understanding a buildings potential and its leasable square footage is crucial for property owners, real estate agents, and potential tenants. It helps in making strategic decisions about leasing, pricing, and overall space utilization strategies.
Two | Adaptation, Accessibility, and Flexibility
Considering special adaptation, accessibility, and flexibility ensures that a building is not only suitable for immediate use but also has the potential to meet future diverse utilization. It also optimizes flow and makes the property more appealing more appealing to a wider range of tenants, increasing its leasable potential and overall value.
Three | Striking a Balance
Striking a balance between providing a vibrant, attractive amenities and maintaining financial feasibility. Regularly reassess your amenities based on tenant feedback and market trends to keep the building competitive, functional, and aesthetic.
Tenants and their employees are looking for a one-stop-shop experience, especially in a hybrid work environment where both for and function are needed to lure them back to the office. It’s more important now that ever yo consider that and convert your space into a mixed-use destination.