Properties with upgraded tenant improvements can command higher rental rates. Features such as modern fixtures, updated flooring, energy-efficient lighting, and improved layouts can justify higher rents.
Properties with well-maintained and upgraded TIs tend to appreciate more over time compared to properties with outdated or poorly maintained interiors. This appreciation is influenced by the property’s ability to attract and retain tenants at competitive rates.
Upgraded and well-maintained spaces tend to attract higher-quality tenants who are willing to pay more for a better environment. Tenants often look for spaces that are move-in ready and have modern amenities.
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