The Office Building with a Personality
Last summer I moved into new office space here in Woburn, MA. It’s a new building, just off Route 128 and only four miles from my home – so the perfect location in my mind. When the owners, Cummings Properties, planned this property they didn’t just set out to build a new office building – they took the time to strategically plan out the business environment they hoped to create. As a result, even during this lousy commercial real estate market, they have created a loyal following of tenants and have a solid occupancy rate. So, what have they done that’s unique?
* Environmentally-conscious construction
*Ongoing recycling
*Solar panels for energy generation
*Upscale restaurant with a menu that has a wide range of prices
*Plenty of free covered parking
Do I sound like a commercial? No, I sound like a satisfied customer. We should all take the time to acknowledge the products and services that make us stop and think – we need to ask ourselves what they did to set themselves apart and then take that vision as we look to our own business.
In my area of the building, called ExecuSuites, my neighbors are software companies, medical billing firms, law offices, CPAs, marketing firms, consulting firms and not-for-profits. We have a great setup but not that different from other buildings like this. So, what makes this property so different?
In addition to building an office, my landlords have succeeded in building a community. There is a monthly newsletter sharing not only news of the building, but also news of the companies inhabiting the ExecuSuites space. There are frequent breakfasts and coffees to give the neighbors a chance to meet one another. These allow small business owners a valuable networking opportunity as well as a chance to gain support from their neighbors.
At the end of the day, tenant retention will be higher because tenants will not only be evaluating rental rates when renewing, but also including the value of being part of a community. Community is a concept that is getting more and more attention in today’s 2.0 world.
My building is a great example of how community can enhance a business that many others would consider to be a commodity (office space). How could you create a community for your customers and change the rules of the game in your market?
