Is Your Commercial Property or Lease Serving You Well in This New Era?

Businesses throughout the United States have had to make a number of changes over the past few years. During the COVID-19 pandemic, many businesses have been forced to close their doors or take steps to limit in-person contact. While some companies have been able to adapt and continue operating, they have likely had to make significant changes. As businesses determine the best ways they can protect people’s safety and meet demand for work from home and hybrid work schedules, while continuing to operate successfully, they may need to consider whether the commercial real estate property they own or lease is meeting their needs.

Considerations Related to Commercial Property

While people are hopeful that the pandemic will become less and less of a concern in the near future, Covid has led to fundamental changes in the way businesses operate. A large number of companies have taken steps to allow employees to work from home, and many workers have found that doing so is easier and more efficient. Similarly, many businesses have shifted to online sales and meetings to limit in-person contact with customers, and they are likely to continue these efforts in the future.

With these changes in the way businesses use office space or other types of property, it may be time for business owners to consider whether the property they own or lease is meeting their needs. As companies make plans for the future, they will likely need to consider how their current space may need to be reconfigured, such as by redesigning offices to limit contact between employees or allowing different workers to work in the office or from home on different days. Retail stores or other types of businesses may also need to plan for less in-person contact with customers, and as they shift more of their sales online, they may need to plan for additional space in their locations where they can store and ship products. Because of these changes, businesses may need to determine whether they will be able to modify the property they are leasing, or they may need to look for new locations that will better fit their needs.

Commercial property owners may also need to take steps to ensure that they are meeting the needs of their tenants. With an increased focus on safety from Covid, owners may want to provide amenities such as air filtration systems, touchless technology, and high-speed internet connections that allow for online meetings. Property owners will also want to be aware of local regulations that they will need to follow, and they may need to make other adjustments to meet the changing needs of their existing tenants.

Contact Our Naperville Commercial Real Estate Lawyer

Whether you are a property owner or tenant, you may need to determine the steps you can take to better serve your customers or employees. By assessing whether your property currently meets your needs and where doing business makes the most sense for you and your company, you can understand where you may need to make adjustments, and you may also be able to save money. The Gierach Law Firm can help you review these issues and determine your options, and we can assist with the purchase, sale, or leasing of commercial property. To get legal help with these matters, contact our DuPage County business law attorney at 630-756-1160.

Sources:

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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.

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