Tenants select office buildings and design their respective suites as an extension of their own brand. Different companies have different demands, therefore, it’s impossible for office spaces to be one size-fits-all or even one-size-fits-most. Understanding this dynamic has been critical to Bixby’s vision and execution of office investing.
Backed by a proven track record and a legacy that dates back over 120 years, it’s not just about standing out from the competition for Bixby. It’s about standing out to the buyer. Adhering to this, Bixby’s value-add office investment strategy focuses on transforming underperforming and/or underutilized real estate into differentiated, experiential office environments.
“We view our investments through the lens of today’s occupier, so we are concentrating on sustainability, efficiency and developing valuable amenities at our properties,” Bixby Portfolio Manager Bill DeLaney says. This tenant-centric mindset enriches the way that Bixby Land Company professionals evaluate the fundamental elements of each investment opportunity. From location—identifying where dynamic companies are expanding their footprints—to design.
“You cannot attract tenants without understanding the demand drivers,” DeLaney notes. “Companies have different wants and needs, not only aesthetically, but with the physical layout of their office space.” Essential for unlocking the value in a building, Bixby assesses design as part of its original underwriting process. Performing due diligence before making an offer on a property helps unearth any potential surprises or issues that could have an adverse impact.
One of the ways Bixby creates buildings that are functional, welcoming and aesthetically pleasing is through its signature outdoor amenity areas, known as Bixby Retreats. A focal point in its investments, these spaces seamlessly blend the interior and exterior of its buildings and create a vibrant, unique office experience built for the modern workforce. “Whether tenant’s use the spaces for outdoor meetings, lunch, or simply an opportunity to take a break in a new climate, it has been met with success and will continue to be part of future office investments,” DeLaney says.
In addition to the Bixby Retreat, other forms of experiential design that Bixby incorporates into its properties include full-height windows, private outdoor patios, bold entryways and plenty of natural light.
Exemplifying its creative office design capabilities is its complete redesign of 2101 El Segundo Boulevard, its former 113,606-square-foot property in El Segundo, CA. With concrete floors, open ceilings and a statement entrance, the building provided an atmosphere of industrial elegance. Additional upgrades included an inclusion of a restaurant and a dog run, so individuals for a pet-friendly work space. A venture with Barings, this comprehensive redesign transformed the 100% vacant office building into a thriving creative space occupied by Sanrio, Peet’s Coffee and more.
“Creating an environment that is not only tastefully designed, but includes on-site amenities that invite tenants to utilize the space outside its suite walls has become increasingly important during a company’s real estate selection process,” DeLaney says. Combining a tactical strategy with calculated action, the Bixby team remains patient and highly selective when investing in office properties. After all, offices are more than just buildings, they’re tools for employee recruitment and retention in the modern workforce. “If the right opportunity presents itself, we are poised to take advantage of it,” DeLaney says.