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Five Ways to Increase the Value of your Commercial Real Estate Property – 2
Make Improvements to the Property
Improvements can take the form of cosmetic improvements or substantial rehabilitation. Cosmetic improvements include such things as new paint or wallpaper, new decor to the common elements, new landscaping, new carpeting/flooring, etc. Substantial rehabilitation involves making structural improvements to the property – for example a substantial rehab may involve redoing all the units of a multifamily property, or changing the structural façade of a shopping center, or making major renovations to the lobby of a large office building. While doing rehabilitation, it will be a bright idea to make improvements toward LEED certification. In any case, you increase the value of the property for not only your tenants, but for your own portfolio as well.
LEED (Leadership in Energy and Environmental Design) is a third-party certification program and the nationally accepted benchmark for the design, construction and operation of high performance green buildings. LEED gives building owners and operators the tools they need to have an immediate and measurable impact on their buildings’ performance.
This strategy uses five categories to guide building performance: Sustainable Sites, Water Efficiency, Energy Efficiency, Materials and Resources, and Indoor Air Quality. It can be implemented for new or existing buildings of any size.
The federal government already requires LEED for all military projects and most projects where government offices are housed, because of the environmental benefits of the process. Cities such as Chicago require all their public buildings to be of this high quality. Major retailers like Best Buy have made the commitment to building LEED Certified stores.
LEED Certified buildings are said to have better occupancy rates because LEED is considered a “premium amenity”, something that separates the wheat from the chafe. Clearly, there are benefits to getting ahead of the curve in the commercial real estate market. Do not be left behind. If you are truly interested in maximizing your cash flows and to start saving real money you should consider engaging a LEED consultant and see how you can upgrade your performance.
I will be glad to put you in touch with reputable companies to help you get LEED certification.
Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.
Commercial Office Buildings, Commercial Real Estate, Commercial Real Estate Investment Strategies, Green Buildings, Increase the Value of your Commercial Real Estate Property, Investment Opportunities, LEED, Miami, Property Management, South Florida
Commercial Buildings, Commercial Office Building, Commercial Real Estate Investment, Commercial Real Estate Investment Advisory, Commercial Real Estate Investment Strategy, Green Buildings, Increase Savings, Investing, Investing Tips, Investment Opportunities, Miami, Miami-Dade, Property Management, South Florida
Especially here in Miami, we must design the project site to maintain natural stormwater flows by promoting infiltration. Specify vegetated roofs, pervious paving, and other measures to minimize impervious surfaces. Reuse stormwater volumes generated for non-potable uses such as landscape irrigation, toilet and urinal flushing and custodial uses.
Motion-sensitive lighting, daylight-sensitive night lighting, and task lighting, are some available technologies that can be installed throughout a building to make it energy and cost efficient.
nice. can i share this through my facebook?
Sure Pauline Simmons