An unoccupied building is especially vulnerable to problem situations like water damage and theft. If you have a commercial property that will be vacated, it’s best to take steps to protect your investment and prevent damage.
First and foremost, notify your insurer and confirm that you have sufficient protection for your commercial building at all times. It’s also important that commercial property owners understand the risks their vacant buildings can face.
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Heightened Industrial Demand Boosts New Lease Rates
Demand for industrial space has been consistently high since early 2020 and property owners have been taking advantage of this when leases expire. As a result, lease spreads have increased significantly. New agreements signed in the past 12 months averaged $9.01 per square foot or $1.88 more than the average in-place rents.
Engineering the World’s Most Complex Office Building
Nearly seven years after the death of famous architect, Zaha Hadid, TheB1M.com is looking back at the incredible engineering behind one of her greatest projects – Antwerp’s Port House. This gravity-defying building consists of a government meeting space on top of a fire station. It could also be the answer to overcrowding problems faced by big cities.
