Fiber internet – probably not the first thing that a commercial building developer would think about when designing a property. However, there is a growing body of evidence demonstrating that investing in fiber ought to be a prime consideration for building developers, owners and managers. Profitable commercial real estate developers know that the key to success is to balance efficient buildouts and operations with meeting tenant needs.
Though teleworking has grown in popularity, the Building Owners & Managers Association of Pittsburgh does not forecast that this will result in any ongoing vacancy of offices. For many businesses right now, fiber internet brought to their office spaces gives them an edge in their markets. To maximize competitiveness, building developers will need to ensure that they can provide what their tenants will require. Savvy prospects will look for buildings with networking infrastructure that can support their digital transformation needs. Fortunately, there is an answer – fiber optic networks. We recently did an in-depth webinar on fiber construction to commercial buildings for BOMA. Here is just a sample of what you can learn from watching it.
Why Businesses Increasingly Demand Commercial Office Space with Fiber
Cloud computing, edge computing, data mining, the Internet of Things (IoT) and even 5G – all these represent newer technologies that are increasingly in demand by businesses of all sizes. They also demand extremely high-performance network solutions that can handle vast amounts of data quickly and with low latency. With more businesses migrating their workloads to cloud platforms like Office 365 and Amazon Web Services, ultra fast connections and high throughput access to the cloud is a must. This is a level of performance that traditional copper cable networks simply cannot match.
In an era of growing cyberattacks, network security is also a major consideration for many companies. Here too, fiber offers significant benefits over competing connectivity technologies. Fiber-optic networks are inherently secure because they are made from glass, which is harder to tap without being detected. That said, virtually any network could be at risk of a cyberattack. Find out why investing in a DDoS-mitigation solution managed by the same fiber provider you are also purchasing internet services from is a best practice.
The net-net of this analysis is that business demands for fiber are only growing for very valid reasons. Commercial building owners and developers should invest now to meet the needs of their tenants.
Statistics Show Bringing Fiber to Your Building Results in a Clear Advantage
Bringing fiber to your building is not only about your tenants, however. It also brings significant advantage to the owner or developer.
According to Certified Commercial Investment Member (CCIM), high-speed internet access is among the top priorities for tenants because it lends to a more functional workspace. Data from a University of Colorado survey suggests that fiber connectivity adds an average of 3.1% to a property’s value. Likewise, a survey of 150 U.S. office leasing decision makers recently found that a building’s internet connectivity is second only to location in important to tenants seeking office space. Clearly, offering this choice to prospective tenants or even to existing ones can help improve revenues and retention rates.
From an operations standpoint, fiber internet drives the use of technology to make buildings “smart”. It enables the use of IoT capable devices such as sensors, cameras and alarms to help automate building operations around heating, ventilation, security and other critical aspects. Embracing smart buildings helps prevent equipment failures, which in turn reduces operational expenses. The money saved in this regard can be put towards fulfilling other tenant needs, thus increasing the attractiveness of the commercial property. Since fiber can last up to 40 years or more, it is an optimal way to proof a building so that it can accommodate advances in technology in relation to smart buildings or tenant demands.
Picking the Right Fiber Provider
As a regional fiber optic network provider, we can work closely with you to customize a design that fits the needs of your building. Our experts live and work in the areas where we do business, so we understand the unique local needs. We can help you create a system that is ideal for tenants that require fast connectivity with the highest level of security. In our BOMA webinar, we outline the four steps that go into bringing fiber to your commercial property. They include:
- Network Planning
- Network Design
- ROW Agreements, Public Agreements and Pole Safety
- Fiber Construction
Listen in – we walk you through this entire process, giving you valuable information to help you in your decision making.Fiber Construction to Commercial Buildings Webinar