If you are in CRE you typically need to know how people travel to your location. In Retail you are looking at more of a local service area, Industrial is a regional area and Office, well that’s where we will focus this article. The details of Drive Time Analysis when applied to the office submarket.
In the Office market tenants rely on access to good employees. Maybe they have a demographic in mind that they want to locate next to. Or they just need good accessibility to existing employees while trying to find better space. We will focus on the latter option here.
Drive Time Analysis
When companies want to relocate to new space AND want to be closer to existing employees how exactly do you do that? We first compile the lists of available sites and employees locations from the client. Making sure to not include any personal id’s in that list for privacy to the client. Plotting all of that information on a map then gives you an idea of the area covered or scale. This exposes any outliers that are not close to the office but maybe telecommute or only come in the office once a month.
Next we add in the Drive Time Analysis tools that will calculate point to point drive times for each employee to each potential location. What makes this tool even better is you can pick a specific time of day to run it. You can also flip the direction of the calculation for morning and night traffic along with that time. The end result is a full list of every employee and the new estimate door to door travel time for each site.
From there the client narrows the field of potential sites down to ones that best fit their employee travel needs. Overall it helps employees have a voice in where the company locates and overall keeps them happy.
Keep your office clients happy by adding Drive Time Analysis to your site selection approach.