Innovating In Commercial Real Estate: A Quick Guide to Thriving in the Era of Remote Work
Prompt and image concept “Remote Work” by JinJa Birkenbeuel; Image rendered by DALL.E #aiprompt
I been having fun again at work. I earned a fantastic content strategy, social media and corporate training contract with one of the world’s leaders in commercial real estate, BentallGreenOak.
Quick story, I got my start in the content strategy side of the real estate business by assisting one of my first large agency clients, Great Lakes REIT, who at the time had just completed their IPO. They needed a powerful branding and content strategy company like mine, to help them effectively communicate to their new shareholders. What an interesting experience it was working with property managers, real estate salespeople, and especially collaborating with the head of it all, the CEO, my earliest business advisor and mentor Dick May! I learned so much in my early years about growth, people management, location scouting, and also about how to ensure the mission fits the vision, and above all the strategic execution that pays the dividend. I killed it on that first job for Great Lakes REIT, such that Birk Creative was the agency of record for the next seven years, and I redesigned their complete branding system that appeared on stationery and door handles, but also the giant, highly visible exterior sign that ran along the IL88. So effective was my work, when GLR was acquired by Transwestern, the real estate team moved, and brought me with them to Inland Real Estate Corporation to bring their annual reports and investor relations communication to life. What a climb!
And as my content strategy and social media messaging assignment for BGO continues, it got me to thinking about the industry as a whole, with the dawn of remote work. What will #remotework do to the commercial real estate industry? An industry that has built a robust corporate and retail building ecosystem filled with commuting workers, transit, restaurants, schools and shops, not to mention the infrastructure that includes construction, utilities, water and government taxation. What can the industry to do stay ahead of this and innovate? How can the commercial real estate industry grow amidst the changing demographics of people that now want remote work and no longer desire going into an office building with windows that won’t open? Buildings are going empty, there are no butts in seats, rents are falling, new development seem to be slowing. Can the commercial real estate industry innovate? The answer is a resounding yes!
The commercial real estate industry can and should start to innovate and adapt to the changing demographics of remote work to drive growth. I brainstormed these ideas with one of my new content partners Ariana Industrial. Here are some ideas we came up with for how the industry can continue to grow and thrive in this new dynamic landscape:
Convert empty office buildings into co-working spaces: With more people working remotely, demand for traditional office space may decrease. One way for commercial real estate developers to adapt to this change is by converting empty office buildings into co-working spaces. Co-working spaces provide a flexible and affordable alternative to traditional office space and can attract remote workers and small businesses.
Develop mixed-use properties: Instead of building solely for commercial use, developers can create mixed-use properties that include both commercial and residential space. This can help ensure a steady stream of tenants and increase the overall value of the property.
Focus on sustainability and green initiatives: Sustainability and green initiatives are becoming increasingly important to both businesses and consumers. Developers who focus on sustainability in their projects, such as by using energy-efficient systems and materials, can differentiate themselves in the market and appeal to a wider range of tenants.
Invest in technology and amenities: To attract and retain tenants, commercial real estate developers can invest in technology and amenities that make the properties more attractive and functional. This could include high-speed internet, modern conference facilities, and on-site amenities such as fitness centers and restaurants.
Diversify the tenant mix: Instead of relying on a single tenant or type of tenant, commercial real estate developers can diversify their tenant mix to reduce risk and increase stability. This could include a mix of office tenants, retailers, and other types of businesses.
Clearly communicate the benefits of co-working spaces: To attract remote workers and small businesses to co-working spaces, it's important to clearly communicate the benefits of these spaces. This could include highlighting the flexibility and affordability of co-working spaces, as well as the amenities and technology that are available.
Utilize social media to engage with tenants and showcase properties: Social media platforms like TikTok, YouTube, LinkedIn, and Instagram can be powerful tools for commercial real estate developers to connect with tenants and showcase their properties. Developers can use social media to share updates, information about amenities and events, and behind-the-scenes glimpses of their properties. They can also use social media to listen to tenant feedback and respond to their needs and concerns. By engaging with tenants on social media, commercial real estate developers can build relationships and create a sense of community within their properties.
Use data-driven insights to inform branding and interior design decisions: By gathering data on tenant preferences and behavior, commercial real estate developers can make more informed decisions about how to brand their properties and design the interiors. This could include conducting surveys and focus groups, as well as analyzing data from social media and other online platforms. For example, developers could use this data to choose a color scheme and font that resonates with tenants, select furniture that is both functional and aesthetically pleasing, and control the air quality and sounds within the space to create a more pleasant and productive work environment. Overall, effective branding and interior design can help commercial real estate developers differentiate their properties and create a positive experience for tenants.
Create a cohesive brand identity: A strong brand identity can help commercial real estate developers stand out in the market and attract more tenants. This could include the use of a consistent logo, color scheme, and color scheme, and fonts across all marketing materials and online platforms.
Developers can also use elements such as storytelling and imagery to create a cohesive brand identity that resonates with tenants. For example, they could use visual storytelling to highlight the unique features and benefits of their properties, and create images that showcase the aesthetics and ambiance of the space. By creating a cohesive brand identity, commercial real estate developers can differentiate their properties and create a strong and memorable impression on tenants
Overall, the key to success in the commercial real estate industry will be the ability to adapt to changing demographics and market conditions. By embracing innovation, utilizing social media and design-thinking strategies, and using data-driven insights, developers can continue to grow and thrive in the era of remote work.
Prompt and image concept “Golden Popcorn” by JinJa Birkenbeuel; Image rendered by DALL.E #aiprompt
About Us
Birk Creative works with businesses as a plug and play brand strategy team or as a complement to existing creative and marketing capabilities. We deliver wraparound services across all advertising and marketing activities: Digital transformation, creative innovation, visual identity, branding, brand messaging, custom content creation, podcast, video and radio production, social media marketing, employee thought leadership training and development and digital advertising.
Our in-house team and remote network include brand strategists, copywriters social media marketers, podcast producers, book and publication publishers, graphic designers and Web developers, illustrators, media buyers and a 10-person remote team.