Not too long ago, the most important factor in choosing an office space was its location. It had to be easily accessible, well-connected to public transportation or have plenty of parking, and, ideally, in a well-regarded area of the city.
After we have witnessed the rise of 5G, IoT, and a pandemic, priorities have shifted. Location still matters in choosing a commercial property, but the potential tenants look closer at what matters most to them and to their employees: connectivity.
In 2022 and beyond, competitive commercial property connectivity means fiber internet.
The reasoning is simple: with more and more people working remotely and/or with partners all over the world, the office has become a central hub that’s used differently and not by every employee. When it is used, though, there is one thing that, beyond others, increases the value of your commercial property: high-speed internet and secure connections.
Fiber has been at the top of the demand list of tenants for a while now. Attracting business tenants to a commercial property means offering this benefit up front.
The Commercial Real Estate Competitive Advantage in Statistics: Why Fiber Matters
The need for fiber internet in commercial properties, in general, is not a new revelation. You can find arguments as old as 1997 for fiber internet for office buildings.
Closer to today, the Certified Commercial Investment Member Institute (CCIM) quotes high-speed internet as a top concern for tenants, since it leads to a more functional workplace. A University of Colorado survey says that fiber connectivity increases a commercial property’s value by an average of 3.1%.
Another survey, this time of 150 decision-makers in office space leasing, says that internet connectivity is the second factor in choosing a space—right after the building’s location.
In a pre-pandemic world, the location was still the first factor on any company’s list. Today, however, things have changed seemingly overnight.
The type of internet connection matters more than it used to. No less than 46% of organizations say that fiber internet is “essential” or “very important” to their operations.
Why does it matter so much? What does fiber internet offer your tenants that makes them pay more for space in your commercial property?
How Fiber Internet Can Increase the Value of Your Commercial Property
When you’re developing a business park or a commercial building, internet connectivity may not be one of your first concerns. However, we recommend you think about it early on, as it can be a major driver for your property’s appeal. Learn more about how you can get fiber internet for commercial properties in Iowa.
Before you dismiss fiber installation as an expense that can be postponed indefinitely, consider the following:
Fiber Internet for Commercial Buildings in Iowa Is More Affordable than It Seems
Installing fiber internet early on in a project is not only affordable but also fast. If you look past the usual offers from large ISPs, you’ll see there’s a better way.
For instance, you can connect to the existing ISP infrastructure in your area, then work with a local provider for “the last mile” of your fiber connection. This way, you will get a secure fiber line that offers all of the benefits below with a smaller investment that can be easily offset by attracting more tenants.
Get Better Internet Speed and an Increased Bandwidth Capacity
For commercial properties, upload and download speeds can make or break a rental agreement. Your tenants are working with many times more data than they did five years ago, so bandwidth and speed are major concerns.
Fiber internet addresses both these concerns single handedly. Plus, it adds:
With cybercrime growing at an alarming pace, your tenants know that any network can be subject to an attack. But they also know that fiber internet, especially a private fiber network, offers an indispensable layer of security.
The success of a cyberattack relies on the attacker gaining access to a network. As soon as they’re in, they can pretty much choose the data to steal or the computers to infect with malware. The more computers in a network, the bigger the chances of someone taking a lax approach to security.
When a business has its own private fiber network, they don’t share it with hundreds or thousands of other businesses and maybe even residential users. This means far fewer chances of someone’s poor security affecting data security.
Easy to Connect to a Secure Data Center
With fiber internet, your tenants have access to more secure data storage options. For instance, your private fiber network can easily connect tenants to a secure data center.
Colocation becomes a breeze when you already have a fiber connection. With colocation, your tenants can store their data in a secure facility (like HTDC) that’s only a quick drive from their office. This way, they get both data security and data safety: in the case of a blackout or a natural or man-made disaster, they can easily access their data.
This is the cornerstone of a disaster recovery plan that can keep them connected to their customers and partners when their competitors are still trying to find what continent hosts their cloud data.
Endless Connection Options
Today’s businesses need more than Wi-Fi and connected servers. They need to be able to leverage IoT infrastructure and connect as many devices as possible.
Fiber internet in their office building makes it possible for them to create a cutting-edge workplace that adapts when their business needs it to. Flexibility and scalability are important in every aspect of business—and when your commercial property comes with these options built-in, you can expect tenants to take a second look.
Fiber Internet for Commercial Properties in Iowa—Where to Start
Your potential tenants demand fiber internet (and for good reasons). Before you sign a binding contract with expensive clauses and very little flexibility, look outside the box.
Work with a local Iowa-based provider for fiber installation and data storage. Your investment will be considerably smaller and your tenants’ benefits much easier to showcase.
Get in touch with the HTDC consultants—we’d be happy to help you put your commercial building on the “most wanted” list.