Commercial real estate owners may want to think twice about renting properties with poor connectivity. New York City-based WiredScore, an organization that rates tech connectivity for commercial real estate buildings, is celebrating a milestone. The organization announced that it has wired certified over 250 million square feet over the past three years.
The coveted wired certifications are based on building connectivity and accessibility. The ability to host multiple internet providers, fiber-optic connections, etc., are all factors in the certifications that range from basic to platinum. About one-third of the commercial buildings in New York City are Wired Certified. Some of the most notable commercial buildings in Manhattan have certifications. The list includes the famed Hippodrome building at 1120 Avenue of the Americas, The Paramount Building at 1501 Broadway and 470,000-square-foot Hines-owned 7 Bryant Park.
In addition to its overflowing customer base, the influence has helped define competition among commercial and mixed use building in Manhattan, extending to other cities far beyond the tri-state area. The popularity of the program has building owners treating the connectivity of a building like a utility. The importance of fiber-optic connectivity could mean the difference between an empty office space or a long-term tenant that can house big operations and big data company servers.
Commercial real estate owners in New York City and around the globe are becoming fast friends with once-local WiredScore. Arie Barendrecht, WiredScore co-founder and Chief Executive Officer, has been the driving force behind educating building owners about broadband infrastructure and its importance to tenants. Since its inception in 2013, WiredScore has grown its certifications to commercial properties in Chicago, San Francisco, London and a growing list of other cities.