Aging Facilities Part 1: Demanding Tenants Driving Building Modernization
This is the first blog in a series of four that discuss the challenges of aging buildings, including the demands of today’s tenants, the costly consequences of older facilities, modernization strategies, and the resulting benefits.
And let’s face it—older buildings are not great for the facilities manager or the owners, either. Oftentimes, these buildings were constructed more than 20, 30, or maybe even 50 years ago, so the infrastructures and systems are outdated, inadequate, and downright expensive to run. Consequently, maintenance and operations costs are high, space utilization is inefficient and poorly managed, and innovative technology can’t be supported.
The needs of tenants are growing…
What do today’s office workers, hotel guests, and students want and expect? They want all the conveniences of a smart, intelligent building, including modern connectivity and mobility, workplace quality, sustainability, security, and efficiency. Yes, that’s a big list, but it’s what it takes to create an environment that is productive, safe, and conducive to good health in the workplace and elsewhere.
The good news is that when building owners create such environments, increased occupancy rates, lower costs of operations, and improved profits will follow.
Let’s take a closer look at the three types of tenants mentioned here and identify specifically what they look for in their respective buildings and why their needs should be important to business owners.
To learn more about how to modernize aging buildings, read this white paper: New Life for Aging Facilities: Four Strategies for Future-Proofing Older Buildings.
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