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3 Ways you can Add a New Lease of Life to your Aging Office Space

3 Ways you can Add a New Lease of Life to your Aging Office Space

If you own a space in an aging office building, it is best you be proactive and implement ways to renovate your property so that it can draw good leases despite its age.

Here are some ways you can breathe life into an old office to secure a better lease:

Start by cleaning up the space and making it presentable

A fresh coat of paint and a deep carpet cleaning can do wonders to your office space. Hire a cleaning agency to tidy up your space, disinfect washrooms and clean air vents. No one likes to lease a dilapidated workspace, even if it is affordable. Ensure that your commercial property is spick-and-span to impress potential lessees.

Improve the amenities you offer

The millennial population has taken over the workforce to the point that office spaces need to take the “adapt or die” approach. Millennials look out for sophisticated amenities in their places of work such as cafeterias, high-speed internet, and even green areas in some cases. Depending on the size of your commercial property, you can consider allocating spaces to incorporate these amenities. Doing so, will improve your chances of attracting new tenants and retaining existing tenants.

Incorporate sustainable improvements

Millennials are taking energy-efficient improvements to new heights. Rooftop solar panels and organic gardens are common measures to “greening” workspaces, which attracts tenants who are committed to corporate social responsibility. You can also undertake other eco-friendly improvements such as HVAC system upgrades, installation of windows for natural lighting and ventilation and more. These improvements offer the promise of cost savings on utility bills to prospective tenants.

If you own an office space in an aging building, use the above tips to ensure your building is up-to-date and ready to lease so you can position your building to win more business. And if you’re a tenant, be sure your broker assists with the due diligence to ensure your existing or new building has recently undergone improvements or has plans to do so soon.

If you’re looking for an office space that best suits your requirements, contact us today!

CRE consultants


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