In terms of location, it doesn’t get much better than Miami Beach. This stretch of coastline is dotted with palm trees, celebrities, arts and culture, and is also home to numerous high-rise hotels. Yet many of these hotels are becoming dated and in need of renovation and restoration.
In lieu of renovating them as hotels, however, many are being repurposed and upgraded to Class A office buildings. The same is true of other older office buildings along Miami Beach’s corridor.
From High-Rise Hotel to Lux Office Real Estate
As older hotels become upgraded to new and improved office suites, their layouts and amenities also need to be reconsidered. For example, the spacing needs for an office are going to be different than what was needed when the building functioned as a hotel.
And while location is certainly a worthy amenity, the building itself will also need to have top-of-the-line features such as:
- An upgraded HVAC system – an efficient system can reduce energy expenses, maintain consistent indoor comfort and improve air quality.
- Expanded elevator capacity – not only may you need more elevators, but you will also want the latest in elevator systems.
- High-end finishes – details matter. Opt for the best in material goods and finishes.
- Security and technology capabilities – invest in state-of-the-art technology and equipment.
- Increased amenities – ensure space for concierge services, security staff, a fitness center, lounges, dining opportunities, childcare, and other amenities important to office employees.
- Adequate parking – valet services should also be considered.
In densely populated areas like Miami, repurposing dated commercial properties can be a good way to secure the location you want.
Miami Beach is one such location popular for office development. Other areas including Brickell, Doral, Coral Gables and the Grove also offer their unique appeal. To learn more about each, be sure to read this post.
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