Address the issues

There is an office building for sale downtown and when I went past it, I saw they had created a web site for the sale and/or lease of the building. Just out of curiosity, I went and looked at the web site.

This is a building that was completely renovated around 5 years ago. A restaurant moved into the building and after a short period of time, shut down due to some structural issues with the building. There were a number of articles in the local paper regarding this issue with the owner saying the building was safe and the tenant saying otherwise.

When looking through the web site, there were pictures of the various floors, with descriptions of the amenities and features. The first floor, where the structural damage was (or wasn’t) is not mentioned on the web site.

My guess is that any prospective buyer or renter is aware of the issues regarding the structural soundness so by not addressing them, it makes it very easy for the potential buyer to assume that since it’s not mentioned and the whole floor isn’t even addressed on the web site, the problems really do exist and they simply look elsewhere.

In my opinion, a much better strategy would be to address the issue head on. Acknowledge the issue, hire an engineering firm to give the building a “clean bill of health”, show the documentation on the web site and it removes the doubts.

It’s easier to avoid the issues but much more effective to address them head on.

Have a great day!

Lawrence

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