Your business is doing well and you have reached a point where you’re ready to expand. But now you’ve reached a dilemma: do you knock down some walls and expand your current building, or do you start fresh with a new plot of land? We understand that many business owners require properties that can accommodate certain amenities. For example, industrial warehouses will require different building features than medical offices. In order to ensure you get the features you want, you either have to retrofit the existing building, or start from scratch. Not sure which to go with? Our commercial Real estate company is here to help you weigh the pros and cons of retrofitting versus opting for a new build.
Retrofitting is the act of taking an existing building and applying physical changes to it in order to fit your business needs. Additions, expansions and renovations are all part of the retrofitting process. Other aspects can include installing electrical systems, security systems, and other hardware that your company will use on a daily basis. With retrofitting, you will normally need to work with the space you currently have, unless you obtain a permit from the city or town that grants you a green light for an expansion project. Generally speaking, retrofitting will reduce costs for your company as you will not need to break ground on a brand new building. However, depending on your needs and business cash flow, retrofitting may not be the best option.
If your business is currently in a building that does not suit your needs and you cannot retrofit the space to your liking or requirements, then it’s time to start looking for land for sale. In the South Shore area of Massachusetts, there are plenty of spacious lots for sale that are perfect for any type of business. After purchasing land, there are a few things you will want to consider before building your new space, including:
If your current building is the one factor keeping you from growing your business, then a new build is your best option. This way you can customize every aspect of your commercial space to ensure that your employees are content, your production area is safe and organized, and your customers (if B2C) are impressed.
Ready to start shopping around for the ideal plot of commercial land for sale in the South Shore? View our available properties online and contact us to schedule an appointment with our commercial Realtors.