12s

Tenant-Friendly Renovations Attract Millennials

Aug. 31, 2015

Occupant improvements help recruit new talent.

Millennial worker preferences are causing FMs and organizations to invest more in facility renovations and improvements to attract the top talent – tenant-friendly improvements have increased by 14.2% since the first quarter of 2013, according to a new report from Jones Lang LaSalle. The United States Construction Perspective – Q2 report also shows that the cost of redesigns to attract tenants(called tenant improvement packages) is affordable, with the national average coming in at $30 per square foot and slightly over $50 per square foot in central business districts.

The report’s authors note that tenant improvement packages offer an easy way for building owners and managers to improve lease negotiations, giving tenants an opportunity to optimize space for their organizations without having to invest in a redesign. The trend to more customizable built environments isn’t limited only to commercial and office spaces – industrial and retail tenants, as well as restaurant chains, are all ramping up their investment in tenant improvement packages.

Still looking for ways to attract top talent? Check out this guide to creating an occupant-friendly facility for more tips.

Voice your opinion!

To join the conversation, and become an exclusive member of Buildings, create an account today!

Sponsored Recommendations

Building Better Schools

Download this digital resource to better understand the challenges and opportunities in designing and operating educational facilities for safety, sustainability, and performance...

Tips to Keep Facility Management on Track

How do you plan to fill the knowledge gap as seasoned facility managers retire or leave for new opportunities? Learn about the latest strategies including FM tech innovations ...

The Beauty & Benefits of Biophilic Design in the Built Environment

Biophilic design is a hot trend in design, but what is it and how can building professionals incorporate these strategies for the benefits of occupants? This eHandbook offers ...

The Benefits of Migrating from Analog to DMR Two-Way Radios

Are you still using analog two-way radios? Download this white paper and discover the simple and cost-effective migration path to digital DMR radios that deliver improved audio...