Over the last three decades, Mayfield Investment Company has found that a significant market niche exists for clean, good quality office suites in established, convenient locations.
The elements that we consider carefully when acquiring properties include:
- Commercially viable neighborhoods where character and value are intrinsic
- Sound construction and features that will lend themselves to modernization
- Lower rent levels compared to other similar properties
- Minimal competition from other properties
- Easy access to transportation
- Locations in cities with responsive government
Successful office property investments often result from a combination of these factors. Improving the management and physical condition of the property, which usually translates to a higher income and a higher property value.
Mayfield's forte is to renovate office properties using an established design plan that has been repeatedly successful throughout the years.
The properties with most potential are "B" class office properties. Mayfield modernizes these properties by upgrading the landscaping, interior corridors, carpeting, paint, window coverings, entry doors, hardware, and lighting in a designer-coordinated plan. Often mechanical and electrical systems are also updated. Effective use of relight windows brightens each property's interior and makes it more inviting. The resulting office suites compare to those of class "A" structures.
Mayfield's experience is that with this designed approach to change, newly renovated offices achieve higher rents than many office properties in the local area. New rent rates often return the extra dollars spent on these renovations in multiples. The reason for this is simple: Office tenants will pay rents that are considerably higher than the average market if the product presented is of high quality.
This approach to real estate ownership often results in significant increases in net operating income, which often lead to a substantial increase in property values and the owners' investment in them. The keystone of our investment success remains the fact that Mayfield's properties often sell for record-breaking prices. This is a direct result of Mayfield's value added approach to property acquisition and redesign.
THE MAYFIELD EXPERIENCE IS QUALITY AND PROPERTY VALUE.