CREJ

INSIDE M uch has been written about the importance of office owners and man- agers developing strong relationships with their tenants. Those stakeholders who have made positive tenant rela- tions a priority often reap the ben- efits of these connections in user loyalty, which can lead to reduced vacancy rates and encourage ten- ants to remain at a property longer. The focus on offering the ameni- ties and services office users have come to expect has sharpened. But this trend is not exclusive to the office sector – industrial tenants also have come to expect a certain level of ameni- ties and services at the properties where they lease space. This high- lights the signifi- cance of tenant relations in the industrial sector, particularly in multitenant indus- trial properties. With a history of outperforming single-tenant big-box properties, multitenant industrial buildings typically house a mixture of ware- house and office spaces in suite- style units. They tend to attract entrepreneurs, startups and small businesses, among other business- es. Property managers often are on the front line and are the “boots on the ground” in nurturing these rela- tionships to encourage retention and aid in attracting new tenants. That said, because industrial properties tend to be very costly to build, few developers are building them, and most property managers are not trained in effectively man- aging them. So why do effective tenant rela- tions matter and how can property managers decrease rollover and ensure a property’s long-term sta- bility? • Superior service and a hands-on approach. Similar to the office sec- WendyWilliams reflects on changes in the industry after a 30-year career Management changes Leadership suggestions to help existing buildings achieve net zero energy practices Sustainability goals PAGE 13 Solar can be used to meet requirements out- lined in Denver’s Green Building Ordinance Green roof options Please see Page 20 July 2019 Amanda Darvill, RPA, LEED-GA Senior property manager, BKM Management Co. PAGE 16 PAGE 4 Why effective tenant relations matter at industrial properties BKM Management Co. Similar to the office sector, multitenant industrial properties require a hands-on approach and superior service. Pictured here is Inverness Exchange, located at 14 Inverness Drive East in Englewood.