NEW YORK CITY—When weighing a decision on space, the top two considerations are location and price. True or false? Only partly true. After location, the second most important factor in a tenant's current space, according to a study by Radius Global Market Research and WiredScore, is the quality of Internet connectivity. When it comes to evaluating future space needs, connectivity takes pride of place, with price and location ranked second and third in priority.
Connectivity isn't something leasing decision makers take for granted; in fact, many find that they can't make this assumption. Eighty percent of the leasing decision makers surveyed by Radius and WiredScore—who included chief executives, heads of real estate and facilities professionals—reported having problems with their office Internet connections.
Disruptions in connectivity occur an average of once per week, according to survey results, and 77% of the respondents said these outages hurt profitability. In terms of the effects of outages on a company's employees, increased stress level was cited by 45% of survey respondents, followed by frustration in helping customers (41%) and lower productivity (36%).
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.