Why lease a business or retail space in a historic property?
When you own a business, one of your first considerations is location, because a good location can be the difference between success and failure. There is no shortage of commercial properties on the market and, along with location and leasing costs, you also have to consider the type of building as well. Historical buildings offer eye-catching architectural designs and many business advantages both financial and social.
Leasing space in historic buildings is often a sound business investment. These locations are well built and often renovated, energy efficient, and offer a great deal of flexibility in how you use your space. Also, historic buildings are often located downtown in areas that are popular with residents and tourists alike. Many cities are investing in their historic properties and downtown areas, leading to an increase in business activity.
Well Made and Maintained
Historic properties are often well constructed. These buildings were generally made with old growth hardwoods (oak, fir, and poplar for example) and stonework crafted by highly-skilled stone masons. This type of high-quality work has resulted in buildings that have stood for 100 years or more and will continue to do so, with regular upkeep. Aside from solid-base construction, historic buildings are maintained and updated regularly and with a strict level of standards for quality.
Many historic properties have design elements that are energy efficient, which saves you money on energy bills. These design features include high ceilings, thick heavy-duty wall construction, and wood framing. Many historic buildings include modern efficiency improvements such as solar panels, better insulation, and storm windows that have been installed without damaging the existing historic designs or changing the overall aesthetic.
Plenty of Usable Space
A general characteristic of historic properties is high ceilings and an open floor space. With such a large and open area to work with, you can easily customize it to fit your business’ needs. Building a location from the ground up or renovating an existing property without much open space takes far longer than a historic property that’s already built and easy to customize.
Downtown Areas are Active Locations
As noted above many cities are working hard to revitalize their downtown areas and historic districts. This often takes the form of low-interest loans, various grants, and other economics assistance to drive the renovation of these areas. This has resulted in many historic districts becoming very busy locations for businesses, cultural events, and residential living. By leasing a historical commercial property, you not only gain a financial advantage, you also place your business in the middle of a very active location in the city.
Lastly, historic properties are simply unique. Many of these buildings are more than 100 years old and offer a kind of architecture and building construction that you rarely see in modern commercial properties.
Mitchell Historic Properties
An historic property offers many advantages as the above examples show. Aside from attractive financial aspects, these properties are visually appealing, offer a lot of room for a business to plan the perfect layout, and allow you to occupy a location that is utterly unique and in a vibrant part of the city.
If you run a business and are looking for a one-of-a-kind Galveston commercial property to lease, please contact Mitchell Historic Properties today to learn more.