Maplewood, Minnesota Retail space for lease border="0"


Maplewood, Minnesota Retail space for lease



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Common misconceptions when leasing commercial real estate

Leasing Tip #1: I have secured the perfect location, so I should ask for the longest lease possible.

People have short attention spans today and trends change faster than ever. You must be able to adapt to such shifts to survive; therefore, you should try to negotiate a shorter lease rather than a longer lease with the option to extend the lease at a reasonable increase in rent if you choose to stay.

Leasing Tip #2: You will grow into your space.

Often times, profit margins are far more fickle in retail than in other industries. It is important to evaluate your 5-year plan and to create a 5-year financial projection to determine your exact needs. You should consider product or service expansion and client growth to determine the exact space you need now and the space you need in 5 years. If you have empty space in a retail location, you are most likely losing money. Choose the proper-sized location for your existing needs and consider ways to expand the space for the future.

Leasing Tip #3: Selecting the right space will automatically make me money.

Even if you have selected a great space, you will still be required to make an effort in marketing to attract customers. If no one is aware of your location or organization, they cannot visit to make purchases. Marketing is an essential part of any successful business.

As long as you consider your needs for an office, retail, warehouse medical, or tech space and its location, the best approach to negotiations, and the general tips and misconceptions of the retail real estate industry, you will be certain to find the optimal retail location for the needs of your company.

General Tips When Leasing Warehouse, Office, Tech, or Medical Space. Leasing a commercial office, warehouse, retail, medical, or tech space is not about what is convenient for you, but rather what is best for the company. Do not select a location based on the proximity to your home. Always consider the needs of the business before your personal wants.

To save money, seek out warehouse space that has already undergone the transition to becoming green. If you find a space that has not yet made the conversion, make it a requirement of the landlord in your negotiation process. You should also incorporate green practices into your daily operations.

When you look at a commercial space, look at it as a blank canvas rather than its current state. Most warehouses have the ability to transform into anything you desire with very little work. As you tour a space, keep an open mind and try to envision your dream space to determine if it is feasible. This could save you thousands of dollars a year.

Do not forget to consider growth. Review your 5-year plan before you begin looking at locations to determine whether or not it is conducive to the vision of your company.

If people will be working in the warehouse, consider the needs of your employees. A happy employee is a productive employee. A productive employee makes for a healthy bottom line.