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The most effective way to let a vacant space

The most effective way to let a vacant space

The most effective way to let a vacant space

Demand for office space to reduce by 15% forecasts Green Street

Over the past few years the horsemen of the apocalypse rode in, one by one forcing us to reinvent what the future city needs to become. First came e-commerce, closing down brick and mortar retailers, then came covid, keeping us at home while putting even more pressure on retail and all kinds of hospitality, and finally recession and the energy crisis are here.

Needless to say, commercial properties in general, and office spaces in particular, are likely to find themselves in a market with extreme competition. And with that, the USPs that worked in the past will become commonplace – well-thought-though office space and modern amenities a heartbeat away from amazing restaurants and stores are not going to be as hard to come by as they used to be.

The question is, what’s the most effective way to let commercial space under the current market conditions?

Options are many, varying from CAT A+ and onsite visits, 360 photographical capturing of the space, to e-styling and renders. One thing’s for sure, one size doesn’t fit all.

After hundreds of vacant space projects and countless conversations with property owners and leasing agents over the years, here’s what we’ve learned.

The questions that will help you choose the right solution for your vacant space:

What is the current state of the space? If it’s spotless – photographs and onsite visits will do the trick. But if the space is a bit worn down, or branded by a previous tenant, showcasing the future potential of the space and how it can be adapted to the new tenant’s needs, is crucial. 

What’s the deadline? We often get contacted for renders of vacant spaces, when all other attempts have failed. The onsite visits didn’t garner much excitement, the photographs didn’t do the job, neither did the low-res renders. The learning is, if time is tight, invest in high-quality visualizations from the start.

Are you asking a price premium for a great location and space? Simply put, a premium price requires premium communication and sales material. Readers of Blink by Gladwell, will remember that people will almost always know the difference between high and low quality, even if they can’t put their finger on what makes them feel that way. It’s all about getting the details right, from the furniture people dream of, to creating the atmosphere of starting the work day with a hot cup of coffee in a space that inspires creativity and protects productivity.

What’s the size of the space? One of the major deciders for what solution to use is the size of the space. Is the space small enough to cover with one image? If so, e-styling or photography is probably the cheapest option, but it comes with some restrictions. If you need to showcase various aspects of the space, an overview, the reception, a meeting room etc., renders give you full flexibility to choose perspectives and how to dress it or where to put the focus. Planned right, the synergies of modeling, will allow for an equally cost-efficient solution to e-styling.

What length of contract are you looking to close? Do you need to communicate the flexibility of a property to showcase how a company can grow or shrink the space to their needs? This is where office selectors, digital dollhouses, project websites and similar make their entry. A sizeable upfront investment, but one that keeps on giving for years. When the time comes to reskin the solution to feel fresh and updated, most of the work has already been conducted and paid for.

Getting the most bang for the buck

Having selected the best solution for your vacant space, the next question is how to get the most bang for the buck. When it comes to renders, here are the top three tricks of the trade from some of the most seasoned leasing agents we work with:

Your property is located in a new area, perhaps even under construction. Showcasing proximity to public transport, future landmarks and restaurants, and recreational areas is crucial. They may not be directly connected to the property or space, but the space will never be considered if the area itself isn’t embraced by the potential tenant.

You have a broad target audience. Could your next tenant be anyone from a client who needs a formal luxurious setting to an art collective or start-up incubator? Nothing beats showing the same space with entirely different interiors. Opposite to popular belief, trying to aim for a style that doesn’t offend anyone is a sure way to make sure no one loves it.

You have a picky target audience, and perhaps one that has a hard time seeing themselves in the space. Use vignettes, i.e. closeups in images that evoke emotions so that it’s easier to imagine what spending time there would feel like. It’s a great way to harvest maximum value from 3D modeling, achieving a low total price for the renders while covering different aspects of the space.

Letting vacant spaces in a nutshell

To sum up, choosing the most effective way to let a vacant space depends on many factors ranging from the current state of the space and the deadline to the asking price, location, audience, and size of the space. There’s no one size fits all, but we’ve found that an upfront investment in high-quality visualizations will give you the most value for money when it comes to the long-term marketing of a premium space, offering a chance to focus on the unique details as well as important landmarks an in the surroundings.



Digital Property Marketing: 13 Details That Ensure You Stand Out

Digital Property Marketing: 13 Details That Ensure You Stand Out

Digital Property Marketing: 13 Details That Ensure You Stand Out

Most industries have been revolutionized by digitalization, and marketing is no exception. An ever-growing amount of marketing takes place online, and brands all over the world have spent years fine-tuning how to optimize their content for digital, and small mobile screens in particular. It begs the question - are we marketing properties in outdated ways? And are there ways to improve content for digital?

Optimizing property marketing for today’s audience

Google “best performing ads” on social media and a few common denominators will quickly appear. Striking colors, movement, short and catchy copy, the absence of complex information to process and digest. Google high-end commercial real estate visualizations, renders, or CGIs, and the majority of the images that come up follow a different logic, mostly displaying gorgeous, sophisticated, detailed images. This is not to say that these kinds of images and animations don’t have a place, but do they effectively capture people’s attention online?


B2B Marketing can still be emotion-driven

Some may argue that B2B marketing is different, less emotional, more about numbers. While there may be some truth to that, the dynamics of grabbing and holding the target audience’s attention are the same – we are, after all, still human. What can be done to complement commercial property imagery created for traditional media like billboards, printed folders and large screens? Details. Zeroing in on a detail – a dining table, a view, an exercise room, or even a chair – can help you grab the viewer’s attention to initiate a conversation and proceed to talking about the project as a whole.


Money well spent

Is it worth the extra money? Well, when the traditional images have already been created, the most expensive parts, meaning the model, the design, and the lighting have already been paid for. If the resolution is set to only work for a small format, spending that extra bit of cash can actually help increase the ROI on the visualization part of the marketing budget.


It’s all about the details

So why do details work? They’re human scale, and they help people imagine what it would actually be like to spend time in a space. Details make the dream tangible. But all details aren’t created equal, they need to stand out from the noise, and they need to speak to the viewer on an emotional level. We’ve compiled a list of stand-out images from projects we’ve worked on to showcase these 13 details for you, and to inspire you when planning your next project.


1. Showcase those spectacular views

Is there any better way to “sell” a commercial property than with stunning views? It may be clear from an exterior image of a building that it’s sure to have amazing views, but that’s not the same as putting your audience in the room and actually showing them that view. Add people to the mix – because what interests people most are people – and you’ve just sold the benefits of those top floor spaces in milliseconds.


2. Location, location, location

We all know that location is one of, if not the most important selling point of any project. Demonstrating the location on a map is both informative and functional, but showing it from the inside, using landmarks and recognizable areas connects to people’s emotions. Borrow the wow-factor from those nearby places, and just like that, your property goes from good to great. Who wouldn’t want a workspace with a view of the London Eye?


3. Make the most of unique features in your architectural visualizations

You’re just about to spend an unholy amount of money on restoring a facade to its original glory, or to build a staircase worthy of a Hollywood scene. Make sure those jaw-dropping features don’t get lost in the grand scheme of things by showcasing them in the way they were meant to be experienced. And ensure it pays off at the bottom line.


4. Tailor property marketing to audience interests

It’s notoriously hard to get people to read anything online, let alone interact with it. Part of the trick, of course, is to target your marketing to your audience’s interests. Larger images need to appeal to a broad audience with a diverse set of interests, but zeroing in on the details can help you speak directly to a sub-target audience like retailers, restaurateurs, or co-working spaces. They’ll appreciate you going the extra mile by taking their specific needs and wants into consideration.


5. Position the project using the right brands

By including brands and products that have the right associations, renders can signal the project’s future potential. It roots the project in the area, supporting local brands, or appealing to the audience of the featured brands. Whether it’s Apple, Four Seasons, or our local coffee shop, we all have brands we love. That makes us feel all the right things. Take advantage of that when marketing your property.


6. Feature iconic designs

We’re not saying everyone is a sucker for design, but we’re kind of saying everyone is a sucker for design. Whether people are knowledgeable enough to name specific chairs or lamps, most people know high quality interior design when they see it. Using iconic pieces of furniture draws the viewer in by being equally familiar and desirable, and it paints the space in the right light.


7. Use strong shapes or colors

The human eye and mind navigates the (overwhelming) amount of impressions we encounter daily in a number of ways, but generally, we humans favor things that don’t require a large amount of brain power, such as reading. That means that strong shapes and colors have a powerful effect on us in the same way “stop signs” do. By including strong shapes and colors in details, you ensure your image grabs your audience from the get-go.

 


8. Look for unique angles

A trick of the trade to optimize strong shapes and colors, as mentioned in the previous point, is to look for interesting angles and showcase them in your 3D visualizations. Those angles create a “What am I looking at? I need to figure this out.” moment in the viewer and establish interest in the image. That’s half of your job finished already.


9. Fine tune the atmosphere and ambience

Before we can even get to square meter price and desk capacity, the oh so important desire for the space must be established. Create an atmosphere or ambience so vivid that the viewer can almost touch it, and you’ve just sold a lifestyle (and a property). Be bold and be specific. It’s better to be clearly cool, refreshing, cozy, or lively than to try to be a little bit of everything.


10. Make it move

Animations can be costly, but there’s also a nifty way of adding movement to still images that grabs attention on small screens. Make the color of a typewriter change from blue to red to green and back, and you immediately capture attention without it costing an arm and a leg. Complement it with smart copy and you’ve got yourself a great asset for your property marketing efforts! Better yet, include movement in a way that ensures your potential customer imagines just how your space benefits their business. 


11. Incorporate the latest trends

You know how the items worn on the catwalks of the most prestigious fashion brands are bought by few, but seen by many? And how that goes on to help them sell the white t-shirts or mascaras that often make up the bulk of their business? Well, we think of restaurants and bars as the catwalks of commercial real estate projects. The bulk of the building may be office spaces, but it’s the restaurateurs and retail spaces that help build the perception and vibe of the building as a whole. Use those details to convey that the space will be the talk of the town, and your customer will understand that this prestige rubs off on the rest of the spaces and tenants as well.


12. Art for the sake of art – and business

Art doesn’t require a reason for being, but in this context, it has one nonetheless. It’s a good place to inject color in an image and create a focal point – without using strong color in furniture which may be polarizing or come across as too much. While it may not appeal to everyone on a personal level, it will most certainly capture their attention.


13. Employ inviting textures

Speaking to as many senses as possible is a way of ensuring that no stone is left unturned in the quest to attract the engagement of the viewer. Using highly tactile materials in the space, both in surface layers and in furniture, is a way to create ambient atmospheres without dimming the lights – especially useful in daytime places such as office spaces.

 

Ready to take your property marketing efforts to the next level by utilizing these tips? Get in touch to discuss your next project! We’d love to discuss how we can help you showcase your commercial property to your target audience on the right channels.

8 Ways That 3D Visualizations Bolster Your Property Marketing Efforts

8 Ways That 3D Visualizations Bolster Your Property Marketing Efforts

8 Ways That 3D Visualizations Bolster Your Property Marketing Efforts

The commercial property space is in a very unique place, with lets dropping and major companies pulling out of contracts that would never have been expected - it’s time for owners to have a look at their development and client strategies. While the discussion as to where budgets could be cut to make up the difference, or what properties and projects alike can do to make sure that they are or will be filled with quality people. Below we have mapped out 8 strong arguments to support why developers, owners, and marketers should invest in quality and reach associated with 3D visualizations and partners.

Communicate your property

Communicate any property efficiently with digital presentation assets such as CGIs, 360s, walkthroughs, and animations that will engage your audience, increasing online excitement that matters. By adding 3D property elements to your offering you bring the essence of the real world into the digital world. 

Show the characteristics and spaces that you and your clients care about, by allowing them to be experienced online from anywhere in the world.


Visually package your property’s USPs

Every one of your properties/projects have unique value, whether it be location, surroundings, layouts, size, materials, or flexibility, you can use 3D to visually explain your vision before development, refurbishment, or fit-out takes place. Ultimately, you will be able to quickly create interest and put on display the true value of your property.

 


Drive future value

We all know that the value of a property is not only immediate, in fact, its intrinsic value appreciates with time. But further value can be planned and even put on display through additional plans that may not be in phase 1. Does your property have the potential for future development? Make your plans visionary and at the same time concrete by showcasing the potential to drive future value.


Define unique characteristics

As the old adage goes, the devil is in the details. Every property/project is built around a few major values, which in the end, drive the interest in purchasing a property. However, increasing property value, and ultimately closing a quality buyer, lies in the details. By using 3D to push an average presentation into a game-changer, you can also put on display those unique individual characteristics that you have envisioned, which ultimately can skyrocket property value. Red granite lobby tabletops instead of wood? 3D allows you to capture every unique characteristic, which ultimately separates quality buyers from others.


Target great buyers/tenants

Like any great presentation or pitch, the tailoring of all information is key to its success. Imagine you’re a buyer/tenant, and you are viewing a property image that is in all white and beige, with floor plans laid out and neutral furniture peppered about. Sure, it’s in a great part of town and the commutes are easy for your employees. But aren’t you a little worried about the level of service and relationship you would receive from an owner that only values their property with some basic 2d layouts and image overlays? Now picture an owner that took the time to create an image that could actually show your company and teams in the office, with desks and furniture to subtly match your company feel and vibrance, virtually moving you into the space before you’ve even signed the contract.


Have meaningful conversations with clients

Have you ever joined a meeting where someone wasn’t prepared and decisions needed to be made? During this meeting, you end up using the time to draft what should have been ready for the meeting to discuss. 

3D visualizations are quite literally the version of being the most prepared for a client or investor meeting possible. By delivering 3D visualizations of a concept you show your audience that not only have you thought the entire property concept through and sketched it out, but you have fully committed to what it will be. Confidence in an idea is a major cornerstone to buyer confidence and commitment. 


Stand above your competition 

Keeping up with the competition” is a relic of the past. “Staying relevant” is a graveyard for slow decision-making. You either continue defining the future and pushing your competition to keep up, or you enjoy what’s left when they are done cherry-picking the best buyers and tenants out there. 

 We all know that for larger deals, each potential tenant or buyer of a property has multiple options to move to or invest in. Choosing a 3D partner that will not only deliver images for you on time but truly drive the creative process, create value, and deliver things that you didn’t know possible is what will keep you ahead of the competition and in the good graces of potential clients. 


Increase your potential buyer reach

It’s simple, in today’s ease of global movement and competitive property markets, people buy and rent property sight-unseen. With every development, refurb, or office let your potential reach is global. How do you reach a global audience with a very fixed-in-place product, property? You take the mountain to Mohamed.   

Save the client effort, time, and travel by creating an overwhelming digital showcase of your property, which will increase your buyer circle (overseas), cut transaction costs, and impress your prospects. 

10 Commercial Real Estate Predictions for 2022

10 Commercial Real Estate Predictions for 2022

10 Commercial Real Estate Predictions for 2022

To say that the commercial real estate industry has been fraught with uncertainty over the past two years would be an understatement, and while the Covid-19 pandemic brought multiple industries to a standstill, it also offered ample opportunity for those willing to adapt to the vastly different landscape. But what about 2022? Will we see an increase in CRE investment? What effects will there be on the buying and leasing of office spaces with so many companies offering hybrid work models and many employees opting to work from home? Will the retail and hospitality sectors return to their pre-pandemic levels? Our findings suggest that rather than succumb to the pandemic panic of recent years, plans and investments in CRE have simply adapted to turn a difficult situation into new opportunities, and that evolution will continue into 2022 and beyond. Here are our commercial real estate predictions for 2022.

An increase in CRE investment

It’s no surprise that 2021 saw a decrease in investment in certain areas of commercial real estate, but the good news is investment is on the way back up in 2022, both in traditional sectors such as retail and hospitality, and in alternative sectors such as life sciences and industrial real estate. An increase in vaccinations and a decrease in Covid-19 cases in many countries worldwide means a (slow) return to normal life, leaving many investors ready to once again turn their attention to shopping malls, restaurants, and hotels, while continuing their investments in profitable new areas such as warehouses for e-commerce or data centers.


The hybrid work model is here to stay

2021 saw many employees working from home and many organizations downsizing their office spaces to cut costs. Far from seeing a loss in productivity, many organizations realized this flexibility only made their employees more productive and happier at work. WFH is here to stay, but many employees will opt to go to the office at least a few days a week, creating the need to keep or even upgrade office spaces in many companies. Many organizations, such as those in the tech industry, have thrived during the pandemic and are experiencing massive growth in terms of hiring and revenue, leaving them with office spaces that are now much too small to accommodate the number of new employees. While some of this will be solved by the hybrid work model, many organizations will choose to move to bigger office spaces, creating new opportunities for property developers and leasing agencies.


Industrial real estate is on the rise

Changing consumer behavior has led to a boom in e-commerce and the data centers needed to power online shopping platforms as well as to ensure companies have the needed capabilities and infrastructure to work from home. This has led to massive opportunities for those leasing or selling industrial spaces, and this trend will only continue to rise in 2022. Expect to see opportunities in niche areas such as cold storage as a growing number of investors are interested in this maturing market.


It’s all about tech

Leasing activity will be driven by tech companies worldwide. According to Savills, we can expect to see office leasing activity comparable with pre-pandemic levels in 2022. However, this will differ depending on the country. Emerging markets such as Vietnam, China, and Indonesia will offer huge opportunities for leasing agencies and property developers due to their strong economic growth and less interest in switching to a hybrid work model. Office spaces will remain integral to tech companies worldwide though, even those with flexible working policies, as their massive growth means they’ll still need bigger spaces for those employees that do opt to go to the office.


Hope for the retail sector

Retail might just be the commercial real estate sector that saw the biggest challenges during the pandemic as lockdowns led to a massive shift in consumer behavior and extreme growth in e-commerce. While e-commerce is not going anywhere, the reopening of brick-and-mortar stores and the strong desire for a return to normalcy will offer ample opportunity in 2022.


The inhospitable hospitality sector

The hospitality sector reached record lows in 2020 and 2021 due to lockdowns and global travel restrictions. While vaccinations and a return to travel offer hope to this struggling sector and a full recovery is expected eventually, CBRE predicts that hotel occupancy won’t reach pre-pandemic levels until at least 2023.


Creative solutions to CRE investment

With both the hospitality and retail sectors crippled by the pandemic, investors started looking into alternative sectors to make up their losses and drive growth and profits even in uncertain times. This has led to an interest in industrial real estate fueled by the immense growth of e-commerce and data. Many retailers no longer need brick and mortar stores, but they do need bigger warehouses to store the stock they need for increasing online sales. Beyond that, the threat of the global pandemic has brought on interest and opportunity for specialized offices in life sciences and the medical buildings for research purposes. 2022 will continue to see investment in the aforementioned alternative sectors, but a return to normal life and the new growth mindset adopted by most thriving organizations, means that the possibilities for creative solutions in 2022 are endless.


Young professionals drive growth in Multifamily CRE

As many young people fled to their family homes during the pandemic to save on rent, multifamily properties (i.e. apartment complexes) suffered. However, 2022 will see young professionals looking to move out on their own once again as they return to the cities and the workplace and achieve their pre-pandemic financial stability.


It’s all about sustainability

Even before the pandemic, we were seeing a huge increase in the number of companies that promised sustainability in their business practices and investments. The pandemic only further amplified that need. Sustainability has taken a central role for corporations and economies with both business and world leaders promising to reduce emissions and move us towards a greener future. This trend will only intensify in 2022 as many investors and organizations will require tracking of ESG initiatives.


3D visualization’s even bigger role in CRE marketing

With so many meetings still taking place over Zoom rather than in person, 3D visualization’s place in property marketing is more important than ever. In an area as competitive as commercial real estate, there’s only one chance to make an impression. CGI, 360s, and animations are the future and allow property developers, leasing agencies, and marketers to sell not only a property but a lifestyle. By adding 3D property elements to your offering, you bring the essence of the real world into the digital world and can showcase it online anywhere in the world.

 

Check out other blog posts for our latest news, interesting clients, and beautiful projects!