Office Tenants’ Top Criteria: Location, Location, Internet
NEW YORK CITY—When weighing a decision on space, the top two considerations are location and price. True or false? Only partly true. After location, the second most important factor in a tenant’s current space, according to a study by Radius Global Market Research and WiredScore, is the quality of Internet connectivity. When it comes to evaluating future space needs, connectivity takes pride of place, with price and location ranked second and third in priority.
Connectivity isn’t something leasing decision makers take for granted; in fact, many find that they can’t make this assumption. Eighty percent of the leasing decision makers surveyed by Radius and WiredScore—who included chief executives, heads of real estate and facilities professionals—reported having problems with their office Internet connections.