WiredScore

Measuring Office Connectivity

By Ioana Neamt on Jul 9, 2016 in News

Being always connected has become a necessity, especially in the fast-paced business world. Reliable internet connectivity is now indispensable for the commercial real estate industry, as it helps landlords and brokers maintain a constantly open line of communication with both current and potential clients. Most businesses today are using a variety of web-based tools, apps and platforms to market their services or products and increase productivity, and such tools require fast and reliable internet connectivity at all times.

This is exactly what WiredScore is attempting to achieve. The Wired certification program rates and recognizes commercial office buildings that feature best-in-class internet connectivity, similar in concept to LEED certification for energy efficiency and environmental sustainability. Launched back in 2013 by Mayor Bloomberg and the New York City Economic Development Corp., the program examines the number and quality of internet service providers, bandwidth capabilities and connection reliability and awards buildings a coveted Wired Certification. So far, WiredScore has awarded the certification to more than 650 buildings around the world, totaling a quarter of a billion square feet of office space. Some of the world’s most recognizable buildings have sought and achieved the certification, including the Empire State Building in New York, the Chicago Board of Trade Building, Miami’s Southeast Financial Center, One California Plaza in L.A. and the Leadenhall Building in London.

We spoke to Arie Barendrecht, co-founder & CEO of WiredScore, about the importance of the program in today’s business environment.

Why has fast and reliable connectivity become so important to office property owners?

Barendrecht: What’s important to tenants is important to property owners. In a survey that WiredScore performed on approximately 450 businesses in NYC, high-quality connectivity was identified as the third most important attribute of an office space (after price and location), and more important than factors like transportation options, property manager quality and other amenities. Strong connectivity distinguishes buildings in a competitive market, and allows landlords to attract the world’s leading businesses to lease space at their properties.

How will Wired Certification help property owners retain and attract top tenants?

Barendrecht: By bearing the internationally-recognized Wired Certified seal, buildings are signaling to tenants that they will provide the lightning-fast internet and strong connectivity they need in order to thrive. Wired Certification simplifies the process of identifying the best buildings, making it easier than ever for brokers and tenants to pinpoint which landlords and properties will fit the bill.

As Wired Certification continues to grow, brokers and tenants are inquiring about it when looking at properties; the top financial services broker teams in NYC are asking about Wired Certification in all lease proposals. If a building isn’t Wired Certified, many tenants and brokers won’t even consider it.

With high-quality tech infrastructure, buildings are well-equipped to retain tenants by offering them seamless internet capabilities with minimal disruption. For example, we know of a co-working space that had issues with air conditioning, sewage and internet in its first month in an office space. The Wi-Fi outage was the only factor that caused those operating out of the co-working space to pack up and leave.

Why is an international connectivity standard so important in commercial real estate? How does it impact the industry?

Barendrecht: Standards are important because they create transparency. We are bringing light to a highly critical aspect of a building that has always been challenging for tenants to easily compare. For the first time ever, businesses can “look under the hood” before signing a lease and can feel confident that this building will meet their needs.

Wired Certified buildings are gaining a competitive advantage by offering strong connectivity, which translates into real increases in profitability. For example, a Midtown Manhattan property increased its rent per square foot from $34 to the low $50s after earning Wired Certification and increased occupancy rates from 72 to 98 percent. With an increasing number of tenants demanding good connectivity, buildings that lack high-quality tech amenities are behind the curve and must upgrade their infrastructure in order to keep up.

How to get certified

Commercial office buildings can achieve simple, Silver, Gold or Platinum Wired certification, depending on the quality of its connectivity infrastructure. Some of the benefits of achieving the certification include:

• External promotion partner websites and databases
• A WiredScore fact sheet to share with brokers or tenants
• Premium search listings and marketing profile on the WiredScore website
• A Wired certification confirmation plaque to display in the building’s lobby
• A license to use the certification badge on the company website and marketing materials
• Access to WiredScore partner telecom experts for consultation and upgrade recommendations

In order to achieve Wired certification, you’ll be first required to enter the WiredScore website and take a ten-minute survey to receive a preliminary certification level. To become fully certified, you can schedule a two-hour building review with WiredScore engineers to verify and validate the information provided in the survey. The whole process can take between 45 and 60 days to complete, and all you, as the landlord, have to do is take the online survey, pay the certification fee, and the WiredScore engineers will take it from there. The certification is valid for two years, after which you can apply to renew your certification and redo the review process.