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Updated over 8 years ago,
How to improve and lease a worn down office building
I've purchased a 4 building office park that has had virtually no maintenance over the last few years of ownership. It still has about 30% occupancy but I need to increase that fast. To those with experience in this realm, please help me answer the following questions:
1. What improvements are most important to new tenants? Which project should I tackle first (structural like roof, mechanical, cosmetic exterior, cosmetic interior, interior maintenance, etc. . There is only a certain amount of improvement money but everything has been left in place for years, and I need to get people in quickly to increase rents to further fuel these improvements)
2. What are the best strategies you have used to find new tenants for Class C or B office buildings?