Transwestern’s latest edition of “Insights” explores new commercial real estate trends that are gaining popularity among property owners, tenants and developers. The articles focus on the WELL Building Standard, contemporary office building renovations and niche multifamily developments, demonstrating how each can boost tenant satisfaction and improve the bottom line.
Workplaces that promote health and well-being are important to corporate real estate users seeking to improve employee productivity and compete for the most talented workers. However, until recently, no method was available to measure the effectiveness of those efforts. The International WELL Building Institute introduced the WELL Building Standard performance-based system last year and adoption of this tool is growing.
- WELL identifies 100 performance metrics, design strategies and policies for measuring, certifying and monitoring how the built environment impacts health and productivity through air, water, nourishment, light, fitness, comfort and mind.
- Transwestern provides WELL consulting services, in addition to WELL assessments to determine the score a building or tenant space could earn.
- Whether or not an occupier’s space obtains certification, adopting certain recommended improvements from an assessment could achieve the desired outcome.
With Millennials now making up the largest segment of today’s workforce, building owners need to stay abreast of their wants and needs to keep their buildings competitive.
Astute developers are targeting a growing rental demographic – Baby Boomers – and the resulting communities are as different from traditional multifamily assets as Baby Boomers are from conventional renters.