Tenants drive demand for adaptable and connected workspaces

“When it comes to commercial property, everything’s changed. CRE owners now have to justify that their buildings offer a better environment than people’s homes. Tenants expect spaces that are productive, healthy, safe, enjoyable and compliant – and that simply wasn’t previously on the agenda.

“You only need to look at lease lengths to understand what’s going on. The average lease length pre-lockdown was five years – now for over 50% of the market, it’s more like one. Tenants aren’t signing up for outdated, inflexible spaces. And when they do, it’s merely a stopgap until they find something else. As a CRE owner, you can’t build a viable business around that.

“Tenants no longer want to lease property as a box. The market has moved on. What they’re buying now is space as a service – spaces that adapt, connect and perform. I’m in no doubt that CRE owners who go digital and adopt this mindset will thrive. Those who don’t, I’m afraid, will be left behind.

“The market leaders – they get it. They’ve got digital strategies and the in-house teams to deliver. But not everyone has access to those kinds of resources. They know they need to act. They just don’t know where to start.

“That’s where we come in. LMG offers a safe, proven way to begin the journey. We guide CRE owners through a proven roadmap to deliver the outcomes they need. We help increase their ability to compete with the market leaders, making them future-ready and stronger, more attractive, contenders in the marketplace.

Mike Hook, LMG