You may not give much thought to your commercial investment’s lobby, but as one of the only—if not the most prominent—common spaces in your building, it has a larger impact than you might think on current and would-be tenants. Often called your “second chance at a good first impression,” your lobby space can communicate a great deal about your building and the experience tenants can expect to have with you. It’s no wonder that when it comes to commercial property improvements, lobby renovations top the list. Discover why so many landlords opt to give their lobby areas a facelift.
It Presents a Unified Persona for Your Building
Depending on when your building was designed, it’s likely that it’s seen a few trends come and go. While spaces that tenants occupy are likely to be updated and maintained out of necessity, this isn’t always the case with lobbies. You may find that this important space in your building is at odds with more updated tenant spaces, or that it simply doesn’t align with the way that you want tenants to perceive your building any longer. A lobby renovation can help you streamline the ideas that you’re communicating to current and future potential tenants so that you’re attracting and keeping tenants who are going to be most aligned with your goals for your investment.
It Telegraphs Cleanliness and Care
Your lobby does more than just communicate the aesthetic of your building; it also gives tenants an idea of what they can expect from you in terms of cleanliness and care. “It’s more important that there is a consistent level of quality in all common areas, preferably sending a message that the building is exceedingly well-maintained,” says Sotheby’s International Realty agent Gordon T. Roberts in this article from Brick Underground. A bright, fresh, and updated lobby can make tenants feel like their space is valuable and high-quality and give them the sense that they can expect excellence from the location.
It Can Raise Your Property Value
While it’s never a guarantee that a lobby renovation will have a direct and immediate impact on your property value, the long term effects of a lobby renovation are overwhelmingly positive. Even without a substantial increase in the valuation of your property, the combined effect of the previous two points discussed here can help tenants feel like they’re getting their money’s worth out of their investment, translating into happy tenants who are eager to rent, happy to stay, and more inclined to pay a larger sum for space they perceive as being valuable.
If you’re ready to renovate your lobby, be sure to do your due diligence. Decide how much you, your board, and/or your shareholders are willing to spend on your renovation, and get the input of an experienced designer who can advise on what elements will have the most impact and help you make an effective plan to accomplish your business and design goals.
Ready to get started with your own lobby renovation? Contact us today to get started on bringing your vision to life.
With years of experience in both commercial construction and residential construction, Alpha Omega Contractors is your go-to construction company in Southern California. Our experts take on projects ranging from office space remodels, medical office renovations, and retail space updates for gyms, financial centers, restaurants, salons, car washes, and more. A trusted Orange County contractor and Los Angeles County contractor, we help bring your renovation wish list to life while helping you safeguard and future-proof the profitability of your business. Whether you need help with a residential floor plan or an upgrade to your medical office or retail space, our team of general contractors, designers, and design-build experts will collaborate with you from the initial stages of pre-construction through to putting the finishing touches on your dream remodel project on time and within budget.
Learn more about how to future-proof your commercial property investment.