If you own a commercial building, you know how important it is for current and future tenants that be building be well-maintained, functional, and designed with current style trends in mind.
Eventually, as you look at other commercial buildings in your area, you might notice that your storefronts are not looking quite as fresh as newer buildings nearby. Renovating your commercial building is a big decision to make—you want to be sure now is the best time for you to tackle your building’s renovation.
Here are a few signs that now is the time to renovate your commercial building.
Maintenance
As a building owner, it’s always important to stay on top of your building’s routine maintenance. You probably already make sure your exteriors don’t have chipped paint, a cracked window, rotting wood, or crumbling brickwork. And you probably know that the building’s interiors need the same care—clean carpets, plumbing repairs, furnace and AC maintenance, are all a part of owning a commercial building.
At some point, instances of routine upkeep might start to occur more frequently. It can be more cost efficient if you do an overhaul of the entire building at once rather than just doing the exterior or interior.
More Modern Buildings in Your Area
Are the other commercial buildings in your area renovating? Are newer commercial buildings being built? If your commercial building doesn’t look as well-kept and modern as other buildings in the area, you may lose current tenants and not gain new ones. In order to charge top price for your office spaces, you must have exteriors and interiors that attract business owners in today’s market.
Business owners in their 20’s, 30’s, and 40’s are looking for different things than their baby boomer counterparts. Look at the other buildings in your area who house businesses you would like to attract to see what is trending and what could be beneficial for your commercial building if you should decide to renovate.
Go Green
There have been so many advancements in the past decade in building materials, plumbing equipment, heating and cooling, windows, doors, insulation, and more. While your building might not be very old, it may be fiscally and environmentally sound to take steps to renovate your building to reflect the greener materials available now.
Your commercial building will not only attract businesses with an environmental conscience, but you also will be able to offer savings on energy bills to current and future tenants.
Open Up the Spaces
Many offices are now designing their work spaces with an open concept in mind. If you decide to renovate your commercial building, you can attract companies who wish to have a more open work area.
Many businesses say the open work spaces offer improved communication. It would be wise to have some of your office spaces available for this kind of office setting, especially since the trend in business seems to be turning toward a more open design concept. You’d hate to miss out on an opportunity to rent to an up-and-coming business because you didn’t have a space that would suit them!
The return on investment you will receive out of a renovation of your commercial building is significant. Hiring a general contractor who can help you with the interior and exterior will make your renovations seamless and much less stressful. When you’re ready, contact BG Southern to discuss your commercial building renovation.