The Value of a World Trade Center Building
Physical Facility & Trade Services
These two components work in close cooperation with each other, producing the uniqueness and effectiveness of a World Trade Center. The physical facilities are typically in the hands of a real estate developer and responsibilities include design, finance, construction, rentals and management. Trade services are typically provided by a non-profit membership organization and responsibilities include providing trade services such as information, training, education, trade missions, newsletters, club activities and reciprocity with other World Trade Centers.
A World Trade Center designation is a valuable commodity, which creates a uniquely branded real estate and trade service project. The designation differentiates the real estate as well as the trade services in a competitive marketplace. A World Trade Center is a powerful brand that can attract prominent companies.
World Trade Centers usually offer a range of business services to international business travelers, such as short term office space, telecommunications and video conference services, as well as access to meeting space.
Why Build a World Trade Center?
Any World Trade Center is influenced by the same factors that affect other real estate projects, such as location, tenant services and the quality of amenities. But if those basic factors are in place, the additional World Trade Center designation, together with trade-related services, can make a WTC the most desirable property in the market place. A tenant profile which includes international trade organizations, trade service providers and companies with international connections should lead to a higher rate of occupancy and higher than average rent.
A World Trade Center Brings Value to the Community:
- Attracts new business to a region
- Boosts regional trade
- Stimulates economic growth
- Increases airport and hotel traffic
- Increases capabilities of the regional trade community
Attributes & Characteristics
Successful World Trade Centers, although all are unique, share many attributes:
- Reflect the role of international trade in the community
- Project a sense of power and optimism
- Serve as an international focus point
- Reinforce a sense of exclusivity for tenants and members
- Incorporate the most advanced technology
World Trade Centers are generally characterized by:
- Higher Occupancy Rates
- Premium Rents
- Lower Turnover and Marketing Costs
- Reduced Financial Risk