Snapshots

San Diego outdoor amenities are a driving force for tenants

In a competitive and tight office market, investors are implementing ways to attract high caliber tenants.

February 04, 2020
  • A major trend this cycle is an influx of unique amenities to lure office tenants that satisfy the modern workplace experience. 
  • With San Diego having consistently great weather all year round, owners are utilizing it by promoting outdoor facilities. Landlords are redeveloping the outdoor common space with amenities such as stadium seating, grass-covered areas, bikes, games, cafes, patios, and food vendors that provide a more enjoyable workplace environment for their tenants.
  • According to a recent JLL analysis, outdoor amenities can boost productivity by promoting employees physical and mental wellbeing. JLL found that projects from post–amenity upgrades have an average occupancy rate increase of 16.2 percent and an average of 11 percent increase in asking rents. Moreover, a recent NAIOP survey found that 91 percent of landlords believe that adding dynamic amenities will elevate leasing and rental rates. 

 

Source: JLL Research