In today’s competitive market, property owners are increasingly incorporating art installations as strategic tools to enhance the tenant experience, boost value, and cultivate a unique identity. In fact, according to Leesman data collected from 190 companies, over 30% of employees rate ‘Art & Photography’ as an important part of an effective work environment.
Here are some key reasons why CRE properties are embracing artistic expression:
- Differentiation and Increased Value: In a crowded market, standing out is crucial. Unique and well-curated art installations can become a defining feature of a property, setting it apart from competitors and potentially increasing its perceived value. This can be particularly beneficial for attracting high-profile tenants or commanding higher rental rates.
- Enhanced Aesthetics and Ambiance: Art installations can significantly elevate the visual appeal of a space, making it more attractive and inviting for tenants, visitors, and potential clients. This creates a positive first impression and contributes to a more professional and sophisticated atmosphere.
- Fostering Creativity and Innovation: Art can inspire creativity and innovation, fostering a stimulating and engaging environment for tenants and employees. This can be especially beneficial for companies in creative fields, such as advertising agencies or tech startups, where a vibrant and inspiring workspace is crucial.
- Community Building and Engagement: Art installations can serve as a conversation starter and a focal point for interaction among tenants, employees, and visitors. This can help foster a sense of community and belonging within the building, ultimately leading to a more positive and collaborative environment.
- Cultural Enrichment and Expression: Art can add a cultural dimension to a CRE property, enriching the experience for occupants and contributing to the overall cultural fabric of the surrounding area. This can be particularly important in areas already known for their artistic and cultural vibrancy.
Standout CRE art installations
Bluest Skies, a handprint mural, brightens up the loading dock of Kilroy’s Seattle property – 333 Dexter. The artwork sits at the foot of the Space Needle and is the last thing southbound drivers see before entering the Aurora tunnel, which spans the length of Seattle.
Silverstein Properties’ 2019 extensive restoration of the Equitable Building at 120 Broadway in NYC included a series of street art-inspired murals within the landmarked tower. Located on the third floor, the installation was created by muralists Pablo Ancona, Sam Meyerson, Lynne Yun, and Sebastien Dauchez, in addition to Michael Iver Jacobson, an illustrator based in St. Paul, MN.
Within the lobby of 280 Park Avenue, an iconic building owned by SL Green in NYC, an installation, “BFF” by KAWS, stands 20 feet tall. Created by Brian Donnelly, famously known as KAWS, this rendition of his renowned “companion” character symbolizes his remarkable evolution and commercial success.
