Essential Steps for the Post-COVID Reopening of Commercial Business Properties
- By Acquisition Consultants
- May 18, 2020
After nearly seven weeks of business closures due to the COVID-19 pandemic, phase one of Florida’s three-part reopening plan was unveiled by Gov. Ron DeSantis on Wednesday, April 29. The initial reopening plan is known as “Phase 1: Safe. Smart. Step-by-Step. Plan for Florida’s Recovery.” The goal is to effectively reopen retail stores and restaurants throughout the state. However, the first phase limited such businesses to 25% capacity. As Florida transitions from early Phase 1 to Full Phase 1, retail and restaurant businesses are permitted to expand to 50% capacity as long as they adhere to social distancing and COVID-19 safety guidelines.
These developments signal a slow return to normalcy that will rely on several months of continuous monitoring by commercial business and property owners, alike. To ensure long-term success, here are some key ways commercial property owners can support their tenants in opening a safe and secure post-COVID workplace.
Although wearing face masks and social distancing has been an adjustment for many, results from ongoing studies indicate that rates of COVID-19 infections dropped significantly when the U.S. government implemented such guidelines. Human behavior indicates that a return to normal will require a similar adjustment. Therefore, for the sake of public health, it is strongly recommended that social distancing measures be reduced gradually. For commercial property owners and their tenants, it is imperative to remain proactive about establishing social distancing plans before re-opening. Rearranging work and customer environments to ensure that social distancing is being practiced may require a thorough review and overhaul of the property space itself.
Commercial property owners should conduct a comprehensive assessment of all operational activities on the premises to ensure a safe and healthy workplace environment for tenants and their employees. Owners must adopt best practices for social distancing. If necessary, property owners may need to make changes to the physical building and reconfigure work environments with the installation of touchless technology and equipment.
America’s reopening will not happen quickly or easily. Nor is it realistic for business owners to expect customers to readily return to prior spending habits. Commercial property owners must work together with tenants to communicate a return-to-work plan that will ensure a reopened business is as safe and clean as possible; however, such measures will incur a cost.
Expenditures needed to reopen most commercial businesses may include:
Fortunately, government funds are available to help business owners meet the demand for modifications to environments, technology, and PPE necessary for reopening safely.
Invest in Commercial Real Estate Properties During and After the Pandemic
Although the American way of life has been drastically altered by the COVID-19 pandemic, economists remain optimistic about the ability of consumers and employees to find ways to respond and adapt positively to these changes.
While America is setting the stage to reopen again, the experienced commercial real estate brokers at Acquisition Consultants are busy assisting investors with finding exceptional retail properties for sale in Orlando. Contact us today for more information about retail properties on the market.