New Retail Construction Frozen, But Renovations Can Provide Some Warmth

by Andy Burns on September 21, 2010

As we know in most parts of the country new retail ground-up construction is frozen and has been since mid-2008.  But that’s not the only option out there.  Renovation and reuse of older structures may offer some hope to the badly depressed construction industry while sparking interest from retailers to expand and upgrade. I wanted to share some pics from a recent project of a 25-year old building that was just upgraded by our team – along with the creative talent of our architects who helped modernize this property for less than a third the cost of a new building of equal size.

The exterior upgrade was prompted by a need to revitalize the tired look of this 26,000 square foot building and make it more attractive from a marketing perspective.

Before renovations

Before renovations

After Renovations

after

New colored roof panels were added – architectural details were added to the roof lines and cornices - sign areas were increased in size – masonry column enclosures added – lighting enhanced – and new landscaping designed and installed. Now that the construction is completed and the new look is evident,  the number of inquiries by potential tenants has shown a strong uptick.  That’s music to a property owner’s ears.  The strategy here was to get as much bang for the buck as possible.  And, we were able to accomplish that for a fraction of the cost of building something new.

Commercial real estate can’t stay stuck forever.  Renovating may just be the thing to jump start some new projects and get some blood flowing back into the commercial building markets.


{ 11 comments… read them below or add one }

Jim Clear 09.21.10 at 11:48 am

Well done!

Andy Burns 09.21.10 at 3:57 pm

Thanks Jim!

Chris VanderWeyden 10.21.10 at 12:39 pm

Andy, great work - an excellent example of building reuse. I like the integration of the old with new (i.e. the domed structure)

Andrew Burns 10.22.10 at 12:53 pm

Yes, the changes we made to the building, which is of 1986 vintage, have created lots of buzz in the local area - and lots of new interest from potential businesses looking to lease space. Thanks for the comments!

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