‘Change Your Life In 3 Minutes’: Could Cold Plunges Be The Next Big Amenity In Office And Multifamily?

Attracting and retaining tenants are among commercial real estate’s greatest challenges, leaving property owners searching for creative ways to stand out from the crowd.

They recognize that properties offering a range of amenities may command 12% higher rents than those without up-to-date features such as concierge services, green spaces and smart home or security features.

One class of amenities has emerged as an in-demand feature of both office and multifamily properties: health and wellness.

Health and wellness amenities have become crucial offerings in today’s CRE market, and while most think of a fitness center or healthy food and beverage options, there is something else catching property owners’ attention: cold plunges. 

“Cold-water immersion has been around for hundreds of years, but it certainly has grown in popularity postpandemic due to the accessibility of having a Plunge where you live, work or travel, as well as recent studies quantifying the real health benefits it provides,” said Ryan Mitchell, director of vertical sales at Plunge, a leading cold plunge tub and high-heat sauna manufacturer. 

Founded in 2020 and based in Sacramento, California, Plunge has created an extensive line of plunge tub products. This includes its original cold-water tub called The Plunge, as well as its All-In and All-In Max commercial models, which Mitchell said were designed for a modern aesthetic and minimal maintenance. Co-founders Michael Garrett and Ryan Duey even appeared on Shark Tank to expand their company’s national reach and share the benefits of cold plunges. 

Mitchell said health benefits include reduced inflammation, increased blood circulation and immune function, and improved stress management that can benefit sleep patterns and boost energy levels and metabolism. 

“From an athlete's perspective, we've been prescribing cold plunges for quite some time for its anti-inflammation benefits and recovery from soreness and muscle fatigue,” he said. “But this practice is really beneficial for anybody that is trying to live a healthier lifestyle or to increase their performance, either at home or at work.”

The way Plunge’s tubs function is different — and more efficient — than its competitors, Mitchell said. Designed to make the benefits of cold-water immersion accessible to a range of users, its commercial products use an internal chiller to pump and recirculate cool water throughout the acrylic tub. 

Plunge’s All-In and All-In Max models don’t need to be hooked up to a water source and can automatically self-clean through their skimmer technology, an easy-to-access filter and optional Smart Care System that monitors pH and chlorine levels. This eliminates the need for manual maintenance after every use, he said. 

“Our commercial models can actively monitor and treat the water for a sanitary and crystal-clear Plunge experience, which has been a game-changer in the office and multifamily markets because it can reduce maintenance costs significantly,” Mitchell said. “We’re looking to help improve ROI for building owners and property operators because we know their time is money.”

Edan Evenhaim, director of marketing and experience for Los Angeles-based real estate group Balaciano Group, said his company has installed Plunge units at several multifamily communities, including The Q Playa, The Q Topanga and The Q Variel, where they are located near hot tubs. 

“This placement allows residents to alternate between hot and cold treatments, maximizing the functional benefits,” Evenhaim said, adding that residents have “absolutely loved” the Plunge experience. “We are pleased with the positive impact it has had on their overall living experience.” 

Plunge’s entrance into the commercial market comes as health and wellness have risen to the top of many people’s minds, Mitchell added.

The world’s wellness sector is expected to grow to a valuation of $8.5T by 2027. This growth is partly attributed to offices and multifamily buildings across the U.S. adding wellness amenities such as Plunge’s cold-water immersion tubs to foster a renewed sense of the wellness lifestyle and encourage community engagement, Mitchell said. 

“Most of our commercial clients come to us because they finally have received enough requests from their tenants and residents for this product,” he said. “We're in an amenity arms race, with many office and multifamily buildings updating their spaces to attract and retain health- and productivity-focused residents and employees.”

While Mitchell acknowledged that it is challenging to take that first plunge into a cold-water immersion tub, there is a communal aspect from the support of peers, co-workers, family or friends who provide positive encouragement to get through the experience together. 

For building owners looking to add a Plunge product to their properties, the process from purchase to delivery has been streamlined to be as seamless as possible, Mitchell said. When a commercial client purchases a Plunge tub, it is set up with an onboarding meeting to gain a better understanding of the inner workings of the unit, the best programming practices and how it can be installed best in the client’s space, so there are no surprises when the delivery and installation date comes around. 

“Should a service issue ever arise, we have a dedicated commercial team that's backed by the largest network of certified technicians in the cold plunge market that are ready to jump in and assist at any time,” he said.

“Our motto is, ‘Change your life in three minutes,’ and we want all of our products to have as little downtime as possible, so tenants can enjoy all the benefits our products have to offer to the fullest extent.”

This article was produced in collaboration between Plunge and Studio B. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.