If you are purchasing commercial real estate with a remodel in mind, there are likely two reasons to do so – either your business needs a newer, remodeled office space or you want to purchase a property to lease to other companies and turn a profit.
Regardless of the reasons you want to purchase property, updating and remodeling the building can provide serious boosts in rental interest and business productivity.
Businesses that are looking to lease a building are always attracted to newer, updated spaces rather than old, outdated buildings. Remodeling a commercial space ensures that your office buildings are always full – and your loans are being paid. If you’re buying the property in order to improve the location of your own business, remodeling and renovations can improve workflow, boost morale and cut costs to put money back in your pocket. (Read about our 2016 Interior Remodeling Trends…)
Solid Returns on Your Investment by Leasing Commercial Space
Any time you make an investment, the return you receive is important. If you buy a building with the intent to remodel and turn it into a valuable commercial space, what type of renovations increase the value? You don’t want to waste money on upgrades that renters don’t value. Common upgrades that are noticeable and valuable in a commercial building include:
– Updated bathrooms
– Updated heating and air conditioning units
– Custom cabinetry
– New windows, doors, carpet, flooring and walls
– Upgraded office furnishings and desks
When a company is looking for an office space to lease, these are all important factors that weigh in on the final decision, along with the cost of leasing the space each month. If you come into the negotiation with updated property, you are already winning half of the negotiation battle.
Commercial Real Estate Remodeling in Minnesota
What if your goal is to renovate in order to house your growing company? This adds a whole new dimension to the remodeling project, and makes it much more personal than a building you plan to lease. As you research and search for industrial properties with the intention of Commercial Real Estate Remodeling, keep the following tips in mind.
– A commercial remodel is very similar to a home remodel. Your goal is to update the layout and improve the workflow, and customize your space to meet the demands of your business.
– Remodeling projects should always reflect who you are as a company and the brand you are representing. It may take some extra time during the drawing and design phase, but your office space should always show what your company values.
– While redesign and remodel can be fun, the reality is that you are running a business – and you need a contractor that understands the commercial side of real estate. In order to avoid delays and problems that cut into your profitability, allow a contractor from Randahl Construction to handle the construction details while you focus on creating a space that reflects the goals and values of your company.
As online stores become more prevalent and consumers take to the web to buy almost everything, your physical location is your one shot for wow-ing customers into loving your brand. As you remodel your commercial space, keep the ultimate goals of your business in mind.
Give Us a Call
When you are ready to dive into the world of commercial remodeling with a new real estate purchase, call Randahl Construction first for an expert opinion. We are happy to walk you through the process and provide valuable advice gleaned from years of working in the remodeling business.
