Thinking differently about industrial real estate – Property Wheel

by Jodi Sher, Marketing Director of Inospace

Space as a Service (SPaaS) – this complete paradigm shift in how the real estate industry delivers value-added products and services to tenants – is most commonly associated with commercial, commercial and, in a to a certain extent, residential.

But I like to think about how this applies to what author Dror Poleg, in his book Rethinking real estate, refers to “the less glamorous brother of office and retail“; namely, industrial property.

Let’s see what you need to know about how SPaaS is changing the way the contemporary industrial property industry views the landlord-tenant supply.

Unpacking the SPAaS model

Using the SPaaS business model, landlords provide a suite of additional, value-added facilities and services that make it easy for tenants to use and operate the space – from digital connectivity to furniture, fixtures or even to staff.

In fact, Michael Beckerman, CEO of CREtech, points to the phenomenon of the management of these spaces “more like hotelsThan those traditional sprawling industrial complexes of the 1950s.

In his LinkedIn article, ‘16 disruptive factors that are forever changing the face of real estate“, our CEO Rael Levitt refers to additional business solutions that are currently in high demand, with”[e]Even buildings in the best locations… supposed to offer a total solution to attract tenants. These solutions have not only functional but also experiential and symbolic advantages.. “

Take, for example, the look and feel of common areas.

In a digital world, the visibility of a building is no longer limited to the offline stage. The appearance of an asset online has an increasing impact on its value. Poleg explains: “Even when end users are already inside a physical space, they often like it based on how it looks when shared with subscribers on social networks… This… also applies to longer term. Industrial spaces.

The range of services

How could an industrial space be better built around its physical assets? It starts with a creative reflection on how customers interact with the physical asset or building; on their “customer journey”.

Today, tenants (AKA customers) “buy” more than just physical space.

They are also looking for a valuable offer; one that combines operational factors, like an on-site property manager and a maintenance team, with the goodies like popcorn on Fridays and a central business center.

Here’s another thought: the human factor.

At Inospace, our industrial activity parks feature our Red Box Security brand. Beyond security, these beautiful gatekeepers elevate the status and value of those who risk their lives to protect our businesses, while transforming our security guards into true brand ambassadors.

Air-conditioned in the summer and heated in the winter, with modern bathrooms, state-of-the-art safety equipment and full modern amenities, our Red Boxes are the first thing we build when we transform properties into serviced Inospace business parks.

Then there’s access to renting forklifts by the hour, sharing large machines, technology-based inventory control, and even special offers on courier services.

Of course, it’s not all fun and games. The demand for flexibility, integrated systems and better equipment for employees can present new opportunities for owners, but it also brings operational complexity. In some cases, landlords may need to develop solutions that target some tenants and not others.

Things to think about

Think good food and free Wi-Fi. Electricity meters, to provide independence in energy consumption, monitoring and regulation. A manager on site to receive and sign deliveries. Cleaning products that are conveniently included in the cost price.

In the developed world, there are requirements of WELL building standards, which focus on the health and well-being of people in buildings and business parks. They define dozens of parameters: air quality, sound levels, temperature, presence of plants and natural materials, accessibility on foot and by bicycle, etc.

For a growing number of industrial customers, access is no longer a single place but the possibility of moving freely within a network of spaces. A unique element of the way we do things at Inospace is the invitation for our existing clients to use the facilities at one of our parks nationwide.

What is the result ?

Lital Marom, President of UNFOLD Media Group, puts it succinctly: “The future of space lies in its intelligent maintenance – not, it seems, its ownership (Forbes, 2019)”.

From the outside, industrial space can seem dull: a bunch of lightweight structures full of boxes or machines located next to major transportation hubs… But industrial assets can be more dynamic than many office or residential buildings.s ”, adds Dror Poleg.

It seems that opening your doors to the SPAaS model can generate dynamic growth and put you ahead of the competition. So maybe it’s time to think differently about industrial real estate and, potentially, to become one of the most sophisticated homeowners on the planet.

Contact [email protected] to learn more.

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