In competitive real estate markets, landlords are always looking for creative ways to attract commercial space tenants. Vacancies are costly, and savvy landlords know they have to stand out in a sea of leasable properties.
Spec (speculative) suites – pre-built, move-in ready office spaces – are becoming increasingly marketable because they fit the needs of both landlords and tenants. While spec suites do require an initial investment, they offer excellent long-term benefits and reduce overall risk for landlords. Rightsize uses an ACCELERATED DELIVERY MODEL to get spec suites ready for occupancy quickly and on budget.
Benefits of Spec Suites
Bridge the Visual Gap
For many potential tenants, it’s challenging to imagine the potential of an empty commercial space. They see bare bones and blank walls, not how an office will look once it’s designed, furnished and occupied. Spec suites overcome this obstacle and allow tenants to visualize how they can use the space to its best advantage. Rightsize spec suites are equipped with commercial flooring, IT cabling and furniture, so tenants can move right in and hit the ground running.
Reduce Vacancy Time
Landlords can lease a property more quickly when it’s already a finished space ready for immediate occupancy. Tenants who are interested in a fast and painless move will be relieved not to have to worry about extensive renovations.
Offer Seamless Transitions
Spec suites are designed to meet the needs of different types of tenants without complicated changes. Because suites are adaptable, landlords can make them marketable to a wide audience of businesses.
Tips for Successful Spec Suites
Balance structure with flexibility.
Spec suites should be structured enough to help tenants with visualization, but flexible enough to allow for customization. Include communal spaces, private offices, conference rooms and break rooms, but use moveable walls and other adaptable elements that can be updated easily.
Keep the look clean.
Landlords can minimize their turnover time between tenants by keeping the design of spec suites relatively modern and neutral. They may want to add hints of color or allow tenants to personalize certain spaces, but overall, they’ll benefit from maintaining a clean, minimalist palette.