Due to the changing needs of the workforce, there has been a larger focus on the suburban tenant experience as more and more tenants are considering switching up their workplace strategies and moving outside of central business districts (CBDs). This sudden shift in the commercial real estate (CRE) landscape presents an opportunistic moment for landlords with suburban offices: it’s time they reimagine their value for tenants by adapting their existing portfolios to offer benefits that support both short- and long-term needs.
At HqO, we’ve seen this taking place with many of our clients — even before the onset of COVID-19. Through the help of strategic technology partnerships, they have added lasting value to their assets. Below are just some of their stories:
The Bulfinch Companies
In early 2018, Bulfinch launched HqO across three of their suburban assets in Needham, MA — 75 Second Avenue, 117 Kendrick Street, and 250 First Avenue — totaling nearly 400,000 sq ft. As a forward-thinking company that seeks to utilize technology for the next wave of great tenant experience, Bulfinch sought to attract and retain its tenants through providing the best workspace possible and ensuring an amenity-rich work environment. They also understood that in suburban settings, there was a lack of walkable amenities on site. Through the HqO app, they’ve been able to bring those experiences to tenants more easily and connect them with food vendors, fitness and recreational classes, and more. They’ve also taken advantage of its data collection capabilities, helping them curate what works and what doesn’t work for their tenant base and eliminating much of the guesswork normally associated with property management tasks. Whether the amenity is on site or virtual, Bulfinch strives to create a connected and enhanced tenant experience.
In February of 2018, National Development launched HqO at their 1.3 million sq ft business environment complete with office, retail, and restaurant space, nestled outside of the city in Burlington, MA. At the time, The District had already boasted a lively environment and several tenant-focused events, but the large nature of its campus meant that they needed a more streamlined way to reach and connect every tenant and employee. Through the HqO app, they were successfully able to disseminate information to everyone, spreading their workplace culture to people they were previously unable to reach. The biggest example of this involves The District’s annual Oktoberfest event, which provides food, drink, and other activities for its tenants. HqO’s technology helped facilitate this event — and other, smaller events throughout the year — through in-app registration, general communication outreach, and more. During their 2019 Oktoberfest, The District witnessed a line of impressed and excited employees waiting to use their phones as a ticket to enter the event. Additionally, they received more than 150 new app downloads from September 2019 to October 2019 — garnering the most engagement the account has seen to date and up almost 21% from the previous month.
In July of 2020, JP Morgan launched HqO at Foundation Park, a 260,000 sq ft business park, just to the west of London, UK. Foundation Park’s management team needed to communicate important return-to-workplace information — such as updated health and safety protocols related to the COVID-19 pandemic — in a quick and effective manner. They also sought to digitally translate the connected nature of the park through a mobile platform. To achieve this, HqO delivered notable custom solutions around transportation, including real-time tracker of the shuttle bus that supports commuting to and from the property. Foundation Park also provides service and resource booking for on-site amenities, a neighborhood guide that aggregates key facilities and services available in the local towns, their own bike share scheme, and virtual workplace events for its active users.
When it comes to addressing the constantly evolving needs of tenants and their employees, landlords have the chance to transform their existing assets in a way that truly elevates the suburban tenant experience.
To learn more about how HqO’s data and technologies can strengthen your entire office portfolio, check out our resources for suburban landlords.