149: Jonathan Iger, CEO of Sage Realty

Jonathan Iger is the CEO of Sage Realty Corporation, a dynamic leader with a wealth of experience in real estate, design, and construction sectors. Under his leadership, Sage Realty is redefining the tenant experience in a manner akin to the hospitality industry, establishing a consistent branded experience across its portfolio through the Sage Collection.

Throughout the conversation, Jonathan shares his journey from his entrepreneurial beginnings to leading Sage Realty, a company with an illustrious 101-year history. He explores the challenges and opportunities in the office building sector, particularly emphasizing the need for a consistent, hospitality-inspired brand experience that goes beyond traditional real estate management. The conversation highlights the importance of enriching tenant experiences and offers valuable lessons on branding, tenant retention, and the future of office spaces.

Key Takeaways:

• The Vision of Sage Realty: Jonathan Eager discusses how Sage Realty has implemented a hospitality-inspired brand experience across its properties, similar to the hotel industry's branded approach, enhancing tenant satisfaction and retention.
• Value-add Repositioning: Jonathan talks about revitalizing existing assets by investing in tenant experience, services, and aesthetics, beyond traditional capital improvements.
• Impact of Branding in Real Estate: The episode sheds light on why branding office properties can significantly alter tenant perception and engagement, akin to the loyalty-driven approaches used by major hotel chains.
• Operational Excellence: Jonathan emphasizes the importance of standard operating procedures (SOPs) and continuous evaluation of tenant touchpoints to elevate customer experiences, drawing from hospitality industry best practices.

Notable Quotes:

1. "Our approach is much more akin to what you see in the hospitality industry... creating a consistent branded experience across all of our assets."
2. "Our outlook is not we're going to sell this building in three years and all that matters is we got the highest gross rent... because that's never the outcome for us."
3. "People come to the restaurant for the food, they come back for the experience."
4. "The more properties that we manage under the Sage brand, the more lives we get to enrich."
5. "Enriching the lives of people at work is not just a mission statement; it's our purpose."

Resources:

• Sage Realty Corporation: Website
• Excellence Wins by Horst Schulze: Recommended reading for insights into hospitality and customer experience excellence.

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