Owners, developers and managers of buildings have found a way to enhance their competitiveness through improving the tenant and client experience. By developing creative cultural, technology and content centers in their facilities, they provide a solid platform for cooperation, engagement and expression through activities, events, food, art, health, learning and collaboration.  A cool, techie vibe that’s inclusive. This attracts and retains occupants, and especially the unique Millennial workers and renters. And, for these building owners, our adaptable spaces can translate into increased occupancy and elevated value.

 
Un-used and under-utilized spaces, including basements, are becoming the gems of real estate enhancements in New York and major cities around the country.  Overlooked areas like this could be a profitable tenant-services jewel box.

Our solution suite is the ORLAGO Culture Experience (OCE) focused on legacy, next-gen, and sophisticated business cultures. A recent article in the Wall Street Journal (WSJ) highlighted the opportunity to enhance occupancy, rents and tenant satisfaction, through improved living, working, cultural, client and community activities inside the building.  Our team’s expertise is in renovating and converting under-utilized spaces. The ORLAGO business model is to create a customized collection of amenities and services based on the landlord’s unique requirements and budget, as well as the local market and the resident-culture of the community.

The easiest and most cliché is the coffee bar, WiFi and the fitness center, but we go beyond this into a curated suite of offerings to satisfy the tenant’s prerequisites…technology, food, fitness, health, learning, art, culture, creativity, innovation, entertainment, interaction, meetups, hangouts, and more.

The WSJ article quoted Rob Speyer, chief executive of NYC’s Rockefeller Center property manager Tishman Speyer, as saying, “We want to fundamentally change the expectation that people have from their office buildings.” This beautifully blends with the ORLAGO strategy of Culture, Commerce, and Community, and immersion into the environment.

Currently, there are some dramatic demographic shifts in real estate. Millennials have overtaken the Baby Boomers in sheer numbers, but both groups remain substantial real estate consumers. Their unique needs for comfort, expression and culture are important. To enhance the “urbanization” of building communities, we support the emergence of “innovation – collaboration – learning” centers, which bolster dynamic economic and cultural environments. There is also pressure on facilities in the suburbs to become more “urban" and urban environments more human. We assist by combining our living, working, learning, health and entertainment elements to vitalize these facilities into vibrant social places where people can meet, work, play, mix, mingle, grow and do. We continue to transform the economic and physical landscape while challenging the viability of the more traditional, namely the buildings that are just “structures.”  Those without the amenities next-gen tenants want today will be at a severe disadvantage.

New competitors and shifting demand could push existing and long-standing players to reduce rents and fight for new tenants. Shared spaces are rapidly becoming more widespread and offer some amenities (receptionists, mailboxes, coffee, desk space, ping pong, Wi-Fi) to small businesses. Existing building owners and managers are now competing with these shared work/living space organizations and need to be on an improved footing to attract and retain. 

This trend began in technology companies, then moved to the shared office spaces, but now has reached the mainstream property market. These are not a cost anymore but a required amenity, and can become a profit center.  Today’s lessees need a place that sustains their lifestyles and empowers growing, learning, mingling and working together. These places allow their clients to create a closer connection through goodwill, and deeper business and social commitment. Centered on user satisfaction, retention and contentment, our OCE’s are focused on a vision of creating intra-building environments that help them to succeed and prosper.  

The establishment of our ORLAGO “Experiential” Live-Work-Culture spaces is creating a new and much needed platform for the long term growth of occupancy and rents. As we begin to see signs that we have reached the peak of one of the hottest investment markets in history, many owners are re-evaluating their portfolios to decide how to invest in their properties to jump-start growth and retain profitability.  

The WSJ goes on to say, “In downtown Los Angeles, Brookfield Office Properties Inc., one of the largest U.S. office landlords, has started renovating the ground floor of its buildings to make way for art installations and cultural events.”  We agree; this is the next wave for property owners, building managers and design professionals. It is the core of the ORLAGO business model to plan, design, build and manage these spaces, technology, and content.

For owners and managers of historic buildings, we may have an opportunity to assist in the financing of the project through state local and federal tax credits and rehabilitation funding. 

Our advisors and managers, and our award-winning designers and architects, are ready to assist you.

To find out more, please email info@ORLAGO.net or call 844 290-7566.