Things to Consider When Searching for Commercial Real Estate

Are you in search of commercial real estate for your business? Whether you’re searching for the perfect location for your retail establishment, office, commercial construction company, or manufacturing facility, finding the ideal location where you can rest assured that business will boom can be difficult. Below are a few things you need to consider when searching for commercial real estate. Keeping these tips in mind will help you locate the best building in the shortest amount of time.

Working with a Real Estate Agent Could Get You the Best Leads

When you search for any real estate, whether it’s residential or commercial, you can certainly go about looking for the right property on your own. There are plenty of websites and apps that you can use to look up local listings and make appointments to go see the properties. But consider working with a real estate agent who can take down a list of your needs and find the properties that will best match those requirements, as well as your budget. An agent will have access to more listings than you can find, and they’ll also have access to the newest properties that hit the market, so you can get a building before someone else grabs it.

Add Clauses to Your Lease

If you’re leasing your building, add the following clauses to protect your investment long-term:

  • An exclusivity clause will prevent your landlord from leasing other areas of the development you’re on to direct competitors.
  • A sublease clause means you have some flexibility when it comes to subletting the space you’re leasing to other businesses. This can help you afford the space by cutting down on monthly rent.

Always be sure to carefully read over the lease before signing on the dotted line. The last thing that you want to do is enter into a long-term lease that will end up costing you more than you expected, as this could put your entire business at risk of failing.

If you try to read your lease but you have trouble understanding it, or if you want to rest assured all of your interests will be covered, have a professional look it over before you sign.

Location, Cost, and Amount of Space You Need

There are three things that you really need to consider when searching for commercial real estate. If these three things can’t be fulfilled, you should continue looking.

First off, you want your space to be in an accessible location, regardless of the type of business that you operate. If you operate one that needs to get foot traffic, you’ll need to consider this as well. Next is cost. You should always make sure you can afford the rent or the purchase price. Never go in over your head, no matter how great a building is. Finally, get the amount of space you need, with a little bit to grow into. The last thing you want to do is outgrow your space right away and have to move again.

Advertisements

Author: Eddy

Eddy is the editorial columnist in Business Fundas, and oversees partner relationships. He posts articles of partners on various topics related to strategy, marketing, supply chain, technology management, social media, e-business, finance, economics and operations management. The articles posted are copyrighted under a Creative Commons unported license 4.0. To contact him, please direct your emails to editor.webposts@gmail.com.