ORANGE COUNTY, CA—Last month, GlobeSt.com spoke with Bill Shopoff, CEO ofShopoff Realty Investments, about the strategiesnecessary for success with value-add assets and some importantadvice he has for investors in this space. More recently, we caughtup with Shopoff to discuss what research techniques his firm hasused to find out which amenities tenants reallywant in their space, which will inform how the firm adds value tothat space. We also asked him about the results of that researchand how Shopoff approaches research as a tool for strategicplanning in commercial real estate.
GlobeSt.com: What research have you done withtenants to find out their specific wants and needs with regard toamenities for value-add projects?
Shopoff: There are two or three wayswe go about it. It depends on how many tenants we arerepositioning. If there's little to no tenancy, it's a little moredifficult. If it's a largely occupied property, then it's astraightforward process: we go and talk to the tenants. Morefrequently, it's a high-touch process, a sit-down interview withthem. Sometimes it's a questionnaire, asking them what they like,what would they want in their space.
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