W&M Talk: Q&A: W&M's Executives Discuss Portfolio's High Occupancy

Q&A: W&M's Executives Discuss Portfolio's High Occupancy
W&M Properties' Executive Vice President, Jeffrey H. Newman (JHN), and Director of Leasing, Jason D. Pizer (JDP), recently spoke with W&M Talk about how W&M's portfolio continues to attract and retain top-quality tenants.

W&M Talk: W&M's office portfolio has seen a lot of leasing activity involving both new tenants — including companies relocating from New York City and Greenwich — and existing tenants wishing to renew and expand their offices. To what do you attribute this high level of activity?

JHN: The overall business environment is strong for quality companies. We serve our tenants, and the brokers who represent them, better than any other landlord/agent. Our properties, which are maintained to the highest standards, provide the most sought-after amenities and services. And our current and prospective tenants understand the benefits of having their businesses in our trophy buildings in prime locations. Referrals frequently come from our existing tenants and their brokers.

JDP: Having spent a significant part of my career serving New York City tenants, I cannot overstate the importance of having excellent transportation options. Tenants and their employees and clients function best with direct access to mass transit systems. Major roadways are also top considerations for firms in the New York metropolitan area. W&M's properties are all located at or near intermodal transportation centers and major highway systems. And W&M offers shuttle services between its properties and the nearest train stations.

JHN: Also, the intermodal transit centers near our properties have recently upgraded their facilities. The Stamford Transportation Center completed a $95 million capital improvement program that doubled the number of platforms, improved pedestrian walkways, expanded parking facilities, and made the Center fully accessible to people with disabilities.

The Urban Transitway Improvement Project (also called the Dock Street East-West Connector) will provide a more direct east-west link to the Stamford Intermodal Transportation Center. The Transitway will include exclusive lanes for buses and other high occupancy vehicles, as well as new bicycle lanes and sidewalks.

And the White Plains Transportation Center completed an extensive renovation that included new ticket offices and ticket vending machines, an expanded and renovated waiting area and new restrooms.

W&M Talk: What are some of the top amenities and services your properties offer?

JDP: Our properties have conference facilities with wireless internet access; fitness centers; in-house or on-campus dining facilities; comprehensive broadband telecommunications systems, including fiber and T-1 line networks (with a choice of telecom providers); 24/7 security and management; on-site parking; concierge services; and in-house or on-campus ATMs. Some properties also offer such additional features as car rental agencies, barbershops, day care centers and sundry shops.

W&M Talk: Aside from offering the most desirable amenities and services, how does W&M ensure its tenants are satisfied and that their space needs are always being met?

JHN: Satisfaction is a top priority, and we always strive to meet the changing needs of our tenants. To that end, we employ tenant services coordinators who do nothing but interact proactively with our tenant community. In addition, we conduct annual surveys of office managers and rank-and-file employees to obtain feedback on building services and amenities. We do everything from construction to cleaning, so we are usually aware of potential issues before they come to the attention of our tenants.

JDP: W&M consistently reaches out to tenants to confirm that their space needs are met. Often, during the length of a lease, firms find that they have either too much or too little space. W&M is always willing to take back underutilized space for re-let to neighboring tenants with expansion needs, or to new tenants.