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<br />Office landlords peddle perks
<br />.Amenities used
<br />to lure tenants
<br />SY J.K. t)INEEN
<br />San Francisco Business Times
<br />. As the "five-star manager" of 500
<br />Terry Francois Blvd., Krista Leonard's
<br />job is to take care of office tenants. She
<br />will make your dinner reservations,
<br />• : order flowers, arrange for anything
<br />from laundry pickup to kayak rental
<br />to yoga class.
<br />"Anything you would go to a con-
<br />cierge for at a. hotel, I will do," said
<br />Leonard. "It's all about the conve-
<br />nience."
<br />The only problem for Leonard is
<br />that the CB Richard Ellis Strategic
<br />Investors -owned 280,000-square-
<br />foot office building doesn't have any
<br />tenants. But as it competes with an
<br />increasing volume of vacant office
<br />space across the Bay Area in,a rapidly
<br />-deteriorating commercial real estate,
<br />CBRE Strategic Investors is among a
<br />growing number of landlords attempt-
<br />ing to lure tenants not only with attrac-
<br />tive leasing rates, but the amenities
<br />that have become .commonplace in
<br />In addition to the concierge services,
<br />as part of its "five-star service center"
<br />package, the building offers a fitness
<br />center, indoor bicycle parking, a 100-
<br />seat, fully wired classroom, a corpo-
<br />rate boardroom, and a plush lounge
<br />area where office tenants could host
<br />Oscar parties or informal gatherings.
<br />CBRE broker Meade Boutwell, who
<br />leases for the Terry Francois building,
<br />said "tenants are going to be able to
<br />save some square footage" by using
<br />the building amenities rather than
<br />incorporating them into their own
<br />build -outs.
<br />"We think tenants are looking.
<br />for a way to maximize values," said
<br />Boutwell.
<br />It's nothing new for landlords to push
<br />special services in down markets,
<br />according to brokers. At the still -va-
<br />cant Centennial campus in South San
<br />Francisco, developer Jack Myers offers
<br />a 100-child on -site day-care facility as
<br />well as a 200-seat conference center
<br />and auditorium with stage, lighting,
<br />projection room and changing room.
<br />It also has shuttles to BART, 25,000
<br />square feet in retail space, and offers
<br />direct access to San Bruno Mountains
<br />hiking trails. it also has "destination
<br />control elevators" that cart workers
<br />directly to their chosen floor.
<br />Grant, who are part of the team han-
<br />dling leasing at the Centennial, say
<br />the amenities have been appealing so
<br />far to prospective tenants, despite the
<br />lack of deals thus far.
<br />"If you are going to make a 10-year
<br />commitment, you want something
<br />that is a recruiting tool for you," said
<br />Grant
<br />Some buildings have long touted spe-
<br />cial services. Tenants at 345 California
<br />St. get services from the Mandarin
<br />Hotel next door. Boston Properties
<br />has converted some of its retail pods
<br />into conference center space at the
<br />Embarcadero Center.
<br />Cushman & Wakefield Senior
<br />Director Margaret Duskin said the
<br />amenities are even more important in
<br />areas far from the central business dis-
<br />trict "where you are not going to walk
<br />around the corner to the Bay Club."
<br />"In a market like this, anything you
<br />can do to add to the story line helps,"
<br />said Duskin.
<br />Meanwhile, Leonard of CBRE, who
<br />started Feb. 6 at -500 Terry Francois,
<br />awaits her first customer.
<br />"They are going to get so much love
<br />they are not going to know what to do
<br />with me;' said Leonard. "If they say, 'I
<br />need a dog walker' I want to be ready."
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