Commercial real estate improvements may help sellers

On Behalf of | Aug 1, 2019 | Commercial Real Estate

When owners of nonresidential properties are ready to sell their properties, their first area of focus may be on what they can do to attract buyers to their properties. Potential commercial real estate improvements vary in cost and complexity. However, here are a couple of major ones worth considering before putting a property on the market in New York.

First, it may behoove a commercial real estate seller to include contemporary amenities in his or her property. For example, the owner of an urban office building could convert the rooftop area into a beautiful garden for holding events, lunch breaks and outdoor meetings. This can help to position the property owner to maximize the return received on his or her investment.

It may also be helpful to add unique spaces to the property. As an example, a building used for corporate work could include a modern social or common area, which can facilitate improved collaboration in the workplace. In addition, lighting controls can help a future buyer to achieve his or her energy efficiency goals.

Selling commercial real estate can be a daunting task whether an investor is doing it for the first time or the 21st time. For this reason, it is a wise move to consult a real estate attorney early on in the process. An attorney can provide a seller with the guidance needed to complete the deal as efficiently as possible while ensuring that his or her best interests and legal rights are protected in New York.