How to Increase Commercial Real Estate Value: Fiber Internet Access Now More Important Than Location
Updated: Nov 10, 2020
In an age when most business people walk around with the entire Internet in their pockets, “location, location, location” includes high quality wireless connections when it comes to influencing tenant demand and building valuation. The majority of millennials – most tenants – demand speed and mobility. For today’s forward-looking office business landlords, tenant mobile access to their cloud and the Internet in general has become a fundamental game changer. Buildings need to be smarter, providing better energy and resource efficiency, and adding high-speed mobile fiber access is a great way to make that happen while increasing your commercial real estate value.
Commercial Real Estate Value: Why Mobile Fiber Internet Has More Impact Than Location
A white paper by the Fiber to the Home Council Americas cites data from the University of Colorado at Boulder. They found that not only does a fiber connection add an average of 3.1 percent to a property’s value, but valuations are increased by an additional 1.8 percent when comparing areas with connectivity speeds of 100 Mbps with those that support 1000/1000 Mbs or more. In the age of mobility and the cloud-based business, older models of real estate appraisal just don’t apply anymore. What are the logical implications that made “location, location, location” so critical for the past several generations? For starters, let’s consider how close the physical building is to public transportation, smooth driving, and easy parking. Traditionally, an office that is situated relatively far from major infrastructure and thoroughfares is going to be less attractive to tenants. By extension, if your building has inadequate access to online services, then this too is a type of prerequisite accessibility. As Harvard Business School Professor Robert Kaplan puts it, access to mobile Internet over fiber is quickly becoming more important than roads when it comes to property value and infrastructure. This is hardly just an analogy. The Strategic Network Groups’ data shows that 46% of organizations labeled fiber mobile Internet as “Essential” or “Important.” Of course, areas that are technological hubs are more likely to have access to gigabit Internet service. Surely other factors are at play here as well – locales with best-in-class Internet speeds are more likely to be successful economically for any number of reasons. It’s the old chicken and egg conundrum, but the holistic effect is indisputable.
Demand for Fiber Across the Board
As today’s business tech specifications become the standard across the country, local governments and community organizations are taking the initiative to work with private enterprises to implement fiber solutions and spur investment demand. In areas where not every building has the same speeds as the next, owners can differentiate themselves from the competition by offering direct mobile fiber access. And since quality mobile internet service is a top priority for companies, connection speeds of 1000/1000 Mbs are more critical than ever.
The logistics involved with getting enterprise mobile fiber are surprisingly simple. The fiber cables themselves are brought into the building and extended with new cabling replacing slow legacy cabling. Fast smart switches are used to bring the connectivity securely to individual employees’ or tenants. MYWIFI6 can provide mobile fiber to your building and provide you new revenue to add to your ROI and value.
Boosting Commercial Real Estate Value with Fiber Internet Doesn’t Have to Be Difficult
Although it will increase your commercial real estate value, one common misconception we encounter is that bringing fiber connectivity to a building is intensive, expensive, and time-consuming. In some cases, this may be true, but most of the time our customers are surprised at how easy the installation was on them and their employees. With MYWIFI6, you can leave the heavy lifting to us. We shoulder the majority of the workload for installing fiber, so you don’t have to. Only in rare cases will we require assistance, and for the most part, once a plan is approved, not much else is needed from our customers. Interested in getting fiber installed in your property? The increasing popularity of fiber optic Internet is making it more affordable than ever to upgrade. Contact us to learn more about the benefits, the installation process, and find out how you can get fiber in your building.