Things to Consider When Leasing Historic Commercial Real Estate Properties

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If you’re interested in leasing historic commercial real estate properties, there are a number of important factors that you should consider during the decision-making process. Choosing the right historic property for lease is a critical decision, holding the potential to either positively or negatively affect the growth and prosperity of your business. While it may seem easy to become overwhelmed by the process of leading historic commercial properties, keeping a few key criteria in mind can make a big difference in finding something that perfectly suits your needs.

 

Location of the Property

In any real estate investment, location is one of the most important features to consider. Most people are familiar with the famous saying, “Location, location, location!” when it comes to residential real estate, but the same concept applies to commercial real estate as well – albeit in a different way. In order to ensure that your business is conveniently accessible to both new and existing customers, a solid location is key.

Conduct your due diligence to find out whether your desired historic rental property is in an optimal location for your business, and try to stick to property options in well-known districts or neighborhoods. Consider the flow of local and tourist traffic and how that can dramatically benefit your business. For example, historic commercial rentals in historic Galveston are far more likely to experience solid foot traffic compared to those in more isolated or less popular neighborhoods.

 

The Reputation of the Property Management Company

When you’re renting a property, dealing with the property management company should be a positive experience. Ideally, you’re able to establish an excellent working relationship with the management company, trusting them to handle administrative processes, concerns, and serious issues alike in an acceptable and professional manner.

Additionally, it’s important to think about the track record of the property management company: do they have a history of successful, satisfied tenants? You want to join a community of high-performing, high-quality tenants that are happy in their respective rental spaces, not an unhappy group of tenants who are frustrated with poor management.

 

Future Repairs and Upkeep

Finally, keep future repairs and upkeep in mind – especially when it comes to historic real estate. It’s not unusual for historic properties to require specific maintenance, but the right management company should be handling the process properly. Ideally, the management company should employ maintenance staff, providing enough staff to sufficiently meet the needs of all properties.

Furthermore, try to choose a property that’s been renovated with the highest attention to detail and quality. A renovation that cuts corners can lead to serious obstacles for your business, while high-quality work will often minimize repairs and upkeep in the future.

 

Browse Commercial Historic Properties for Rent in Galveston, TX

Mitchell Historic Properties offers a wide variety of Galveston commercial real estate, specializing in historic properties with distinct charm and versatile appeal. For more than three decades, we’ve worked to restore the integrity and functionality of countless iconic properties on the Strand, providing high-quality Galveston retail space and offices to a range of businesses.

If you’re interested in renting commercial real estate in the thriving, beloved Strand National Historic Landmark District in historic downtown Galveston, Mitchell Historic Properties can provide you with an excellent selection of properties of varying sizes, styles, and price points. Our award-winning historic restoration work has made our buildings some of the best-known in Galveston, while our professional maintenance staff makes your upkeep simple and stress-free.

For more information about our available portfolio of Galveston office space and commercial rentals, contact Mitchell Historic Properties today.