Some of you know my day job is a commercial landlord; my brothers and I own an office building in downtown Columbus, OH. We've been getting some press for the last couple spaces we've built out here. I'm just excited that people seem to like the building; we spend a lot of time and effort on it. Here's the latest, with a nice photo gallery of the space:
We built that out for them last year. It was a mix of us doing the work and subcontractors. It was expensive. But it looks great!
So how does this work? You bought the building, and you've been tailoring it for tenants/leasees?
Yes, the building is about 65,000sf of space and it's divided into separate offices that we lease out to tenants. As the tenants turn over if the space needs rehab we will gut it and rebuild it to the new tenant's requirements. Sometimes people are happy with the way it looks as is, but most of the time they want to change something. Anything from just carpet and paint to everything from the floor to the ceiling and outer walls goes and we start over. Sometimes we're tearing out a nice office and it kind of gives me heartburn to do it.
We've owned it for over 10 years. We bought it from our parents, who bought it from their parents, so it was kind of an inside deal. ;-) We lease the space out to a variety of tenants and have about 10 different tenants in here, with the building 100% full. Everything from a daycare to web developers.
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