Office Landlords Boost Amenities To Attract Tenants, Combat Falling Demand
Massages, yoga classes and 15-minute meal delivery — those are just some of the perks office building owners are offering tenants in today’s market of increasing supply and stagnant demand.
While tenants or employees usually have to pay for these services, landlords tend to charge below-market rates and take steps to make these services as convenient as possible, the Wall Street Journal reports. Experts said traditional landlords are turning to perks once found only in tech startups to stay competitive in today’s less than robust office environment, where companies are leasing less space than in previous years as office construction surges.
Office landlords are boosting amenities all over the country, from Brookfield Office Properties in LA to NYC’s Rockefeller Center as owners work to change the way tenants think of their properties.