Real Talk with a Realtor
- Completion time About 8 minutes
Commercial Real Estate Tips to Remember
Matching customer needs to your location (:17)
- Retail business and restaurant owners should look for spaces that are convenient for customers – just be prepared for a higher premium.
- If your business doesn't rely on foot traffic, look for spaces with a lower premium per square foot.
Choosing a location with a competitive edge (:53)
- Competition in the area can help drive the same customer foot traffic you're trying to attract.
- Competition is good for comparison shopping – if your business is the better option.
- Choose a space that is convenient and easy for employees and customers to get to.
Planning for growth (2:20)
- Be optimistic but also realistic when it comes to your future growth expansion plans.
- Choose a space with a lease that gives you flexibility.
Making your business stand out (3:13)
- Make a good first and lasting impression by keeping the office clean and providing a positive atmosphere.
- Have a brand identity that translates into your office space.
Lease Options (4:37)
- Triple Net Lease: leaseholder pays for real estate taxes, building insurance, and maintenance in addition to rent and utility costs.
- Gross Lease: leaseholder pays a flat rental amount and the owner pays for all the property charges regularly incurred by the ownership.
Hidden Costs (6:00)
- Some leases require you to maintain your own mechanical systems. If so, make sure you know what the age of those systems are so you can negotiate lease terms if need be.