FRIS is a full service real estate provider with a strong track record in the lease of ground floor commercial space – a small but crucial niche in the commercial property sector. Where some real estate agents prefer to ignore this market, FRIS has made it its specific focus. These ground-floor commercial spaces occupy the base of residential complexes, sometimes extending up or down a floor as well. According to Nadine van Kaam, Commercial Real Estate advisor at FRIS, it’s a component all too often overlooked by project developers or residential investors. Which is a shame, because activity at street level makes neighbourhoods much more attractive and ultimately also boosts property values.
Nadine is specialized in the commercial lease of mainly ground floor office, restaurant and retail spaces. As she points out, it’s important for clients to think about the designation of a building’s base from the outset of a project. ‘’What you often saw happening’’, Nadine explains, ‘’was that too little attention went into what to do at the base, including the technical specifications and spatial layout. That resulted in unlettable spaces that just stayed vacant. So you’d have, say, a restaurant operating permit issued for a space that was completely unsuitable.’’ FRIS has made ground floor rentals one of its specializations and works with clients to develop these spaces from phase one. They’ve noticed that more project developers and investors are coming to see the value of a successful base. That’s fortunate, because a successful base also makes for better living!
Drawing on its now extensive experience in this niche, FRIS has been able to develop a targeted matching tool. Nadine: ‘’For each new rental engagement it identifies a bunch of matches that we can contact right then. Our research department has already mapped out the whole range of amenities available in each city district. That lets us see at a glance what a neighbourhood may be missing. For example, if there are a lot of places to eat, but hardly any gyms or social amenities, we notice that.’’ Using this tool, FRIS can give clients more comprehensive information, and does so as early on as possible. ‘If we can come on board very early on, the project developer will be able to anticipate the amenities required in the neighbourhood and thus create the optimal mix at street level. That is our added value.’’