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%).
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
