The commercial real estate (CRE) space has completely transformed in recent years. Despite often being thought of as one of the slowest industries to modernize, many leading firms have taken steps to digitize their operations and properties to enhance the workplace experience.
On this episode of The Let’s Go Show, Chase Garbarino speaks to Pat Rippe, Managing Director of Portfolio Optimization at Pennybacker Capital, to get his insight on their forward-thinking strategies. Before he joined Pennybacker Capital, Pat worked for JLL and Tishman Speyer, two massive players in the industry. Over the years, he’s witnessed the industry’s massive technological evolution.
Chase and Pat start off the episode discussing these changes to the industry: the best owners and operators, Pat noted, are trying to implement technology into building operations, marketing, and the overall tenant experience. To keep their assets competitive, he said, building owners and operators are trying to reconcile this discrepancy by making “office buildings and the tenant experience of that office building on par with other aspects of their life.”
The episode also touched on Pennybacker’s innovative use of data to quantify their success. In his experience, Pat asserted, the most substantial benefit of utilizing property data is that “it lets you have amenities and services that are actually important to the tenants, not just things that look good on a tour.” In turn, this measurable input makes you a better owner. Ultimately, Pat said, “Anything we can do to use data to drive our decision making helps us. Things like having technology in a building that helps us measure different aspects that we can then report to our investors, our tenants, our property managers, and engineers just makes us smarter and better.”
To hear more thoughts on the state of the workplace experience in 2022, listen to The Let’s Go Show’s latest episode.
- Learn how digital tools and strategies drive memorable experiences that elevate property communities.
- See how to center the employee experience with modern workplace amenities.
On Today’s Episode
Chase Garbarino, CEO and Co-Founder at HqO, the only end-to-end operating system for commercial office buildings.
As a Managing Director for Pennybacker Capital, Pat Rippe oversees the private equity firm’s office portfolio throughout the entire development, re-development, and asset management processes.