Building Engines Report Unveils Disconnects Between CRE Professionals and Tenant Expectations

BOSTON, MASSACHUSETTS

Findings of “The Tenant Experience Gap” highlight unmet needs in the workplace experience related to communications, service, security, and amenities.

Building Engines™, the commercial real estate (CRE) industry’s innovation leader for building operations software, today announced the release of a new, original research report, “The Tenant Experience Gap.”

This new study draws from over 600 CRE professionals and tenant employees who work in multi-tenant CRE buildings across the United States. The results challenge the industry’s assumptions about communication, amenities, security, and services that tenants find valuable in their workplace. Findings shed light on considerable disconnects between what property managers prioritize and what tenants really expect.

“Demand for innovative technology and amenities as part of the workplace experience has dramatically increased in the past few years,” said Building Engines’ Head of Research, Phil Mobley. “By comparing the responses of CRE professionals to those of tenant employees, this report gives property managers and building owners a better understanding of their mission as the next generation saturates the workplace.”

The report’s findings uncover surprising disparities in four aspects of the tenant experience; investment in amenities, communication, security, and access control, and CRE talent.

A glimpse into the key findings:

• Seventy-five percent of CRE professionals are confident that building occupants receive important building information, but only twenty-five percent of occupants agree.
• There are many gaps in how property managers currently communicate and how tenants expect to receive information in the future. For example, sixty-six percent of building management teams communicate with tenants via phone today, while only four percent of tenant employees plan to use this method in the future.
• Eighty percent of CRE professionals dedicate at least half of their time to improving the tenant experience, but only 28 percent allocate at least half of their operating budget toward the same goal.
• Buildings are under-investing in cybersecurity. Only 30 percent having a cybersecurity program in place today.

“Successful CRE properties know that great tenant experiences begin with great communication,” said Scott Sidman, Building Engines’ CMO. “They also expect that properties delivering the amenities, security and services that tenants actually value most will be poised to win in competitive markets. But making the wrong decisions based on speculation will be costly. This fact-finding mission is part of our commitment to our customers and the entire industry, to highlight the way forward: a great tenant experience powered by building intelligence.”

To read the full results and complete analysis, click here.

About Building Engines

Building Engines is an operations platform designed for modern commercial real estate organizations to?connect?and?align?people, processes, and activities. Our property management tools transform activity into intelligence so that CRE professionals can?control their changing work environment with?confidence, improve building operations performance, and increase asset value.?

Many of the leading public REITs, private owner-managers and third-party management firms use Building Engines to provide outstanding tenant service, maintain assets, improve operational efficiency, mitigate operational risk, and make better, data-driven decisions.? Building Engines is used in over 2 billion square feet of multi-tenant commercial office, medical office, retail, and industrial properties in the United States and Canada. www.buildingengines.com