When it comes to business, boosting profits is on everyone’s mind. Fortunately, professionals of the commercial real estate scene can easily improve property values by making some physical adjustments.
Property owners and managers interested in selling their industrial assets should consider making these five upgrades:
- Get Back to Basics
When you’re getting ready to create a listing for an industrial property, make sure you’ve taken care of some basic housekeeping.
Maintaining an orderly and well-functioning warehouse space is imperative if you’re looking to increase the property’s value. Although it may seem obvious, an industrial space needs to be clean, organized, and efficient.
The first step to maximizing your asset value is to whip the warehouse into shape. If anything is in need of repair, this is the time to follow through.
Look around the property for any signs of basic wear and tear. Keep a special eye out for chipped paint and any broken elements both inside and outside of the property. Make sure the basic systems—such as temperature control, ventilation, and plumbing—are all well-functioning.
Once the housekeeping is complete, you’ll have set a strong foundation for any additional improvements.
- Boost Tech Capacity
Technology is extremely influential in determining an industrial site’s price point. Contemporary buyers are looking for properties that have a strong technological infrastructure in place. Satellites, wiring, and other Smart property technologies can transform outdated warehouse spaces.
While technology can quickly become a large investment, it does pay off in the long run.
- Add More Parking
Parking is becoming one of the warehouse industry’s hottest amenities. An increasing number of brands have begun offering faster product deliveries, and industrial real estate is responsible for making it all happen.
In order to facilitate a seamless shipping station within your industrial space, consider expanding the property’s parking capacity. This way, future tenants will be able to increase the number of simultaneous pick-ups and deliveries. Industrial properties with a business-savvy design scheme will be highly coveted on the market.
- Improve the Property’s Storage
Storage centers serve a huge role in warehouses. A great and straightforward way to improve your industrial property’s value is by expanding the on-site storage facilities. Consider renovating to expand the square footage or install shelving to optimize the area’s usable space.
- Don’t Forget About Lighting
Warehouse spaces need strong lighting. Thanks to recent technological advancements, options for industry lighting systems have greatly improved. Since it helps prospective buyers improve their team’s workflow and capacity, lighting can be used as marketing leverage when selling an industrial space.
Consider implementing LED lighting into your industrial spaces. This option is tech-savvy, eco-friendly, and cost-efficient. Make sure to install new LED lights to working spaces, such as around delivery areas and packing sections. If you’re interested in taking it to the next level, go with Smart Lights that use sensor technologies for automated activation and shutdowns.
Improving the value of a property doesn't have to be as daunting a task as it may seem. Sometimes it's as simple as taking five steps in the right direction.