Why Choose UsGeneral Misconceptions When Renting Warehouse, Office, Retail, Tech & Medical Space. Leasing Tip #1: New is better than old.
This is not always true. In fact, many significantly older office, warehouses, were designed with the principal philosophies of today’s new buildings. They often have far more windows and they were built to keep in the heat and the cold out resulting in reduced energy costs and a more pleasant work environment. Also, many older buildings were made with greater quality materials.
Leasing Tip #2: The landlord is the only person allowed to make changes to the warehouse layout and design.
It is true that a landlord does have the right to make changes, however you are able to negotiate such abilities into your lease, as well. If you are certain you would like to add additional office, medical, or tech space or features later in time, negotiate it into your lease.
Leasing Tip #3: An environmental land survey has been conducted on all office, warehouse, tech, medical, and retail properties in recent years.
Do not assume that an environmental land survey has been conducted on the property of the warehouse, office, retail, medical, or tech space site recently. You should ask about such surveys in advance and review the results to ensure it meets current regulations along with the building itself and that you and your company are protected from any environmental pollutions the land may endure during your time on the premises and after your company leaves the property.
As long as you consider your needs for an office, warehouse, medical, retail, or tech space and its location, the best approach to negotiations, and the general tips and misconceptions of the commercial real estate real estate industry, you will be certain to find the optimal commercial property location for the needs of your company.
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.