Your space won't sell itself as it is, but what it could be

Lease Your Commercial Space

2024 Edition

One skill that we all have in the commercial real estate industry navigating change. Change is on the rise now within the commercial real estate industry. We’re moving away from the slow crawl in office that we saw over the last few years and we’re quickly shifting to the uptick in demand. Get ahead of the industry and we can help your team be ready for the growth.

So are you ready? Are your spaces ready?

As with many commercial buildings, you probably have vacant spaces that are not in the condition to lease. Competition is fierce for amenities and they have turned into a must- have. You can no longer hold out on your 1980s vintage space, thinking that tenants will naturally LOVE the yellow fridge and matching appliances that “have character,” or the oak and brass trim with built-in low walls, or an overall layout that discourages interaction. The ethos of today’s office space is fostering collaboration and inspiration, which naturally calls for an aesthetic of open functionality.

What are the differences, why and when?

Most spaces need an improvement refresh after 5 years. This translates into needing new finishes, MEP upgrades, and potentially the full removal of the previous tenant features that are not generally desired. You know what I’m talking about – in fact, I would love to hear from you about the most unique customizations that you tailored for a tenant. I think about the bright blue countertops that matched a logo, or lighting that was specific to artwork, or a unique furniture layout, and of course wallcoverings that are dirty and dated and can't be matched with repairs.

How much, how far to go?

You can go too far. You can also definitely not go far enough. Since every tenant is different, it is difficult to strike the perfect balance because they will have specific tastes and will want a level of customization that you cannot anticipate fully. You want to present an updated canvas that elicits a vision of from the tenant so they can see themselves there. My tips:

1.??? Keep the obvious locations for conference rooms and breakrooms where relocating plumbing and utilities are costly

2.??? Lose the dense offices choking out natural light and dated doors frames and hardware

3.??? Demolish the mini blinds, broken and battered

4.??? Open up the space and the visual to the exterior

Do the updates help?

I think it's like anything, you only get one first impression – and one split second of opportunity - and then the tenant will explore further or move on.

"Your space won't sell itself as it is, but what it could be."

Make ready for leasing.

Small spaces lease more quickly. Demising walls are on the move and the office footprint is fluctuating. Small spaces are often the giveback, but small spaces can present a fresh opportunity to create demand. We have a tremendous amount of sublease spaces available across all markets.

A current finished or ready-to-finish space competes well against the wear and tear of a sublease where the previous tenant has ghosted the space. Get all code compliant and upgrades ready for tenant to visualize the future. If it’s not there, build the basics, breakroom, conference room.

We can help from budget, design, through completion commercial corporate TI, speculative TI, and amenity upgrades.

[email protected]

LinkedIn Profile