Investing in commercial real estate is one of the best ideas out there for strengthening your portfolio. However, it is definitely not among the most passive investment instruments out there. To be a successful commercial real estate investor, quite a bit of ongoing attention is required.

 

This involves regular renovation to keep the structure safe, attractive, and in line with contemporary trends. Simply put, your occupancy rates will plummet in a competitive landscape where the building next door is always looking for ways to steal your tenants. With this in mind, keep reading for some expert advice on how to transform your commercial building through meticulous renovation!

 

Sustainability at the Forefront

As the United States eyes a net-zero economy by the year 2050, commercial buildings are under greater pressure than ever to keep up with the times in terms of sustainability.

 

There are several ways to accomplish this through renovation.

 

The first–and probably most trendy–is to add solar technology for the creation of renewable energy. This includes the installation of solar panels and PV window treatments. In addition to renewable energy, water harvesting is another innovative method some buildings are implementing to use nature to add efficiency to their resource consumption.

 

Another way to improve the sustainability of a building is by updating to features that will require less energy to be used. For example, when performing a siding upgrade, compare aluminum vs vinyl siding and decide what the best option is for creating an airtight building envelope. Look into insulation products and choose a material that will maximize the R-value of the building. Explore automation such as motion-detected lights and sink faucets and smart thermostats to guarantee that resources are only being used when needed.

 

Finally, you can promote sustainability through renovation by choosing durable materials that require less attention to upkeep and maintenance. Epoxy terrazzo floors, quartz countertops, and metal roofing are just a few examples of materials that can last decades without much energy and resource investment for upkeep. 

 

Think Like a Tenant

As a commercial building owner, it’s not always about what you want. You have to keep the needs of tenants at the forefront when planning renovation projects. 

 

To this effect, one of the most desirable features for modern tenants is versatility. They want to be able to use their space in creative ways to satisfy the ever-evolving demands of their customers. They also want the option of being able to sublet and share space with other businesses to help offset their rent costs.

 

With this in mind, open interiors are one of the best ways to promote versatility when renovating a commercial space. Tear down walls and make space that tenants can quickly rearrange and customize as needed. When making open interiors, be sure to include large windows that promote natural light flow, incorporate demountable partitions to allow for privacy as needed, and mount acoustic wall panels to reduce unwanted noise transfer in the space. 

 

Eye Value-Adding Projects

Although thinking like a tenant is important, understand that quickly performing band-aid projects just to appease unhappy tenants is not the way to go. You still have to keep a long-term perspective with your commercial property investment, so only perform those projects that will hold their value over time.

 

Projects that promote energy efficiency, durability, and low maintenance are all features that have serious staying power. Flooring is one area to specifically focus on, as commercial floors are subject to wear and tear in ways that private residences are not. To help maximize returns when renovating commercial floors, explore wholesale flooring Houston and other suppliers throughout Texas to get the lowest price per square foot possible. 

 

Prioritize Safety

Commercial buildings are under greater scrutiny in terms of safety and security than private residences. You do not want your building making headline news for all of the wrong reasons, so it is important to renovate with regularity to keep ahead of evolving safety standards. 

 

While there is no limit to what you can do to improve the safety of a commercial structure, a few places to start would be:

 

  • Checking ADA compliance of the parking lot, entryways, and restrooms
  • Upgrading the railing around all staircases and elevated walkways
  • Installing the latest smoke baffles, fire curtains, and sprinkler systems
  • Building an infrastructure of safety doors and credentialed access to limit unauthorized entry at key points of ingress

 

As it can be difficult for the untrained eye to recognize any possible safety breaches, it is a great idea to partner with a commercial building inspector prior to performing your next renovation.

 

Transform Your Commercial Space Today

Owning commercial real estate is a great investment opportunity, but one that requires a good amount of ongoing attention. As such, it is essential that you perform regular renovations on your property to help it stand out in the commercial real estate market. For ideas on how to transform your commercial space in the Rio Grande Valley, visit Cindy Hopkins Real Estate today for the leading resources in the region!