There is no question that branding a commercial real estate asset can create value and recognition for landlords and investors alike. Think about an industrial park with trendy signage and QR codes, an office building with memorable taglines and trending color schemes, or a multi-family development using lifestyle images of families, friends, and fun. All are effective in their own way; however, notable brands go far beyond the surface, connecting with consumers on a deeper level.
For example, The Ritz isn’t just a hotel; a Rolex isn’t just a watch. Both brands exude an elevated expectation of quality and service that is distinct and memorable–an X factor propelling them to the top.
Commercial assets can invoke the same level of prestige. The Mart in Chicago or Empire State Building and Chrysler Building in New York immediately come to mind– though their history and classic architecture aren’t the sole force behind their appeal. These buildings serve as characters in a greater story that is always unfolding in the business capitals of the world.
While an asset may not have the prominence of the Empire State Building or Chrysler Building, it has its own X factor, too—a unique story, personality, and brand .
Why this asset? Why now?
The Differentiating Factor
In the past, landlords and investors often relied solely on amenities to distinguish their assets from one another. The challenge is, as amenities have increasingly advanced, differentiation is harder to discern and articulate. A rooftop deck, outdoor area, or fitness center can be perceived the same as the next unless those amenities are part of a space and place that is part of something more significant.
Think about the ecosystem surrounding any asset, and a story unfolds. There is a sense of purpose and community that touches all who live and work there. There is also a motivating factor for businesses that choose to operate there. Successful brands capture these stories, bringing products, services, and even assets to life.
To determine your asset’s X factor, there are a few questions to consider:
- What makes your asset unique compared to the competition? What experience does it deliver?
- How does your asset enrich or connect to the community? Does it align with the culture, a particular subculture, or fulfill a gap?
- Based on the topography and amenities within the area, how is your asset best equipped to serve the needs of businesses and their people?
How then do you take that X-Factor and create a compelling story that positions the asset and drives its identity? It’s a question of strategy.
Marketing Strategies that Deliver
Putting battle-tested branding strategies to work—understanding an asset’s appeal, establishing a brand identity, and developing subsequent marketing plans that highlight an asset’s X-factor is critical to attracting and retaining tenants.
When Stream acquired 1771 North Street in Washington, D.C., it was viewed solely as the National Association of Broadcasters (NAB) headquarters. However, our trophy redevelopment and rebranding efforts re-established it as one of the most unique and sought-after locations in the market. We experienced the same success with RiverSouth in the competitive Austin market, and The Quad in Dallas, by reimaging the region and offerings, then identifying and broadcasting their X-factor via solid branding and positioning.
Our professional and strategic marketing teams work diligently together to understand an asset and its value, then position that asset to inspire target markets to view it the same way.
As commercial real estate continues to evolve, one thing is certain. Owners and investors must brand assets in a manner far more remarkable than before to elevate their position, reputation, and image within the market.
Every asset has a story. What’s yours?