We sold the Maple Avenue property last month. The owners went to a lot of effort to make the property market-ready. This included painting both the inside and outside of the building. They installed new ceiling foil, repaired the lighting, spray washed the floors, slurry-coated and striped the parking. The single biggest expense was installing a new concrete yard. During the marketing period all the landscaping was maintained and the building was kept clean. The purpose of all this effort was to make the building look attractive and ready for a buyer to occupy. Because the building looked better than others on the market, we were able to obtain a premium. In today’s maket, making sure your building looks good and is in “move-in” condition will result in a reduced vacancy, a better tenant, and higher rent. Owners need to spend money on their property if they want to have good results.

Continue reading “Lessons Learned From Two Recent Deals”