January 2015
INSIDE
by Michelle Z. Askeland
The word “amenities” is a major
buzzword in the office property
market today. There are amenities
provided by the building, ameni-
ties provided by the employers and
amenities based on building location.
Rather than present the employer-
based amenities, often thought of
as perks, such as dog-friendly office
policies, adjustable and unassigned
work stations, and other incentives,
instead, let’s focus on the top trends
building owners are advertising as
major conveniences and benefits.
Owners must take into account
many considerations about what they
should offer in a new building or in a
renovated one. The first one is cost.
Owners must determine the sweet
spot, in which rent levels remain tol-
erable or competitive while the build-
ing provides tenants as much as pos-
sible, said Jennifer Bridges, Kieding
senior project manager.
Another is what type of clients the
owner wants to attract. Generational
needs play a big part here. Those
looking to attract millennials must
consider the location thoughtfully,
as well as what types of activities
those future employees like to do. For
example, a Westminster redevelop-
ment trying to entice tech compa-
nies to lease space features indoor
bike storage, a climbing wall and a
game room, among other things, said
Bridges.
And then there’s the competition
factor. By knowing what other office
buildings of similar size and age
offer, owners can decide to meet or,
most likely, try to exceed those fea-
tures. For example, an out-of-town
buyer recently visited the Denver
Tech Center looking to invest. After
visiting several area properties, he
jokingly dubbed himself the “rest-
room king.” He said he planned to
upgrade his property’s bathrooms,
which is a property feature that typi-
cally doesn’t see many updates. In
doing so, he said he’d raise the bar for
all buildings in the area, said Bridges.
“It’s all about the state of the market,”
she said. “In certain submarkets, rest-
rooms have become underwhelming
across the board.”
There is also an amenities curve.
Some buildings are always ahead and
some are always a little bit behind,
said Bridges. Every client must find
the right blend as it furthers its
corporate culture. However, most
experts agree that there are some
must-haves if a building wants to
compete in today’s competitive envi-
ronment.
“Amenities should be things that
are easily accessible and actually
used,” said Bruce Johnson, Cresa
Denver principal.
The baseline for building-provided
amenities includes break rooms,
multipurpose meeting areas, on-site
fitness centers, cafes or food service,
and wellness rooms, said Bridges.
Bike storage is another feature that
is quickly becoming mandatory for
businesses located in the central
business district.
In today’s market, it’s often not
enough to offer a stripped-down
How less space doesn't necessarily have to be a bad thing. Parking in LoDo The allure of amenities PAGE 14 The Denver Art Museum admin. building is designed to promote productivity. Trends in action PAGE 20 Comfort and collaboration are becoming crucial elements in the workplace. Workplace evolution PAGE 19Canadian developer First Gulf plans to build a rooftop patio on the 22nd floor at 1401 Lawrence St.
Please see Page 16