Approximately 10 years or more is needed for healthcare practice owners to prepare to retire.¹ As doctors become owners of their practice, they may not yet be thinking about retirement, however succession planning should start very early as part of their business plan and then adjusted as time goes on and retirement becomes more than a thought.

(Updated 2/20/23) Retail real estate has shrunk over the past three years according to CBRE’s report “US Real Estate Market Outlook 2023”. With less retail construction happening, there is less opportunity for businesses to move into this type of space. Malls and retail centers that have been struggling in recent years are now finding opportunities by converting to mixed use.

Office Remodel (Part II)

As a business owner or manager, you want to make your working space comfortable, attractive and efficient for your work force.  Currently popular in office settings is open daylighting, LED lamps, replaceable carpet squares and work stations with standing options.   If you don’t own your building, you may feel restricted to make these changes until your ownership status changes, but it’s more likely that your landlord will be willing to work with you to make updates and keep you as a tenant.

Once you’ve already determined the approximate size of the space you need, your budget, general location desired, and that the investment will fit within your business objectives, it’s time to start shopping for suitable building for your company changes.

Things have changed for many businesses over the last two years including where staff completes their work, the need for incentives to maintain or attract employees, distancing measures for staff, and how their products are delivered. These changes may have made your current building too big, too small, or no longer functional for your business.

Whether a business is a restaurant, office, manufacturing plant, or school, having a building exterior remodel strategy can make a project very efficient and beneficial for a building owner. A plan should include incorporating low maintenance materials, safety elements, easy accessibility, and curb appeal to serve a business well into the future, as well as cut costs, and attract new customers.

What Ideas Will Work for You?

Appearance is one of the triggers that leads to remodeling, but isn’t the only good reason to remodel.  Other reasons like efficiency, reorganizing unused space, right-sizing, and new technology can make a big difference in attracting or retaining talent, saving money and improving productivity.  Furthermore, modern designs that are created with goals of safety, appearance, efficiency, and increased focus or productivity can help you to make your space more useful for staff and enticing to clients.

There aren’t many businesses that remodel every six years, so chances are that if you’re currently ready for an update, you have the potential to save a considerable amount of money by investing in modern, energy efficient products and installations. 

In 2015, there were roughly 53 million Americans¹ who were disabled either in mobility, in hearing, or with their vision.  Moreover, there are the aging baby boomers with special needs, mothers with strollers, and an increasing number of people using service dogs who each have different accessibility needs to public places.  Whether you are a restaurant, retailer, bank, medical office, or school (to list a few), you likely already have Americans with Disabilities Act (ADA) standards to meet when you build a new building or remodel your existing one; however, if you aren’t already regulated by Title II or Title III, there are still benefits of planning your building for access to everyone, also known as Universal Design, which is different from ADA.  Some are considering Universal Design an emerging concept of good citizenship, much the same way LEED has done for reducing a company’s carbon footprint.  Compared to ADA which is mandated by the government to provide accessibility for disabled people within publicly used buildings, Universal Design is a choice that a building owner makes to include accommodations not regulated by the ADA to provide easy accessibility to everyone.

And Other Remodeling Insights

The idea of an “office remodel” covers a broad spectrum of happenings. We’ve completed those that are elaborate and include removing walls to change the layout of the floorplan and others that are as simple as