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A New Definition for Operational Real Estate

"Operational real estate is a few things. It’s experiential, satisfaction of the end-user and, of course, stellar service."

By Tanya Sterling | December 16, 2019 at 07:00 AM
Photo by Shutterstock

New York, NY—With the shift towards buying an experience over buying a product or service, customer loyalty is no longer guaranteed. As a result, companies have moved to offering not only stellar customer service but also hospitality-centric experiences.

Commercial real estate is no different. Today, successful building owners and landlords understand that tenant loyalty requires leveraging a building’s products and services to create a memorable customer experience. This has become known as operational real estate. Operational real estate is driving meaningful change in the commercial real estate sector and more institutional capital is moving towards this as the experience economy burgeons.

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