Posted on July 5, 2021
If you’re ready to lease office space for your business, you may be feeling overwhelmed. After all, commercial real estate (CRE) is quite a bit different than residential, so you’re probably not as familiar with finding and leasing commercial workspace. And unlike residential real estate, there is not an MLS for all of the commercial leases available in your area, which makes it difficult to find what you need. Here are a few tips to help you find the perfect office space for your business.
While you can try to go it alone, it is often better to work with an experienced commercial real estate broker who can guide you through the task from beginning to end. Without access to a database of potential listings, you likely have no idea what is out there for consideration. A CRE broker has insider knowledge of what rentals are currently open, which are upcoming and which rentals you want to avoid.
With the help of a CRE broker, you are more likely to have a greater variety of office space options. You’ll also have help with negotiations over rental rates and lease agreements. Plus, if you have specific needs for your industry, a broker with a lot of experience will know where to look on your behalf.
Without knowing what you need in a new office space, you may find it difficult to locate a place that works for you and your employees. If you have outgrown your current office, think about how much more square footage you’ll need to function well. You’ll also want to consider your ideal location and the terms of the preferred lease.
If possible, provide your commercial real estate broker with a list of your wants and needs. This will give him or her a greater understanding of your search requirements. Remember, different buildings and locations have different zoning requirements, so be flexible in your requirements, if necessary.
As an entrepreneur, you know the value of networking. You can use that same business tactic when leasing office space. Talk to the business owners that you already know. At least one of them will likely know of a space that is available or will be soon. Plus, you might even find out about a building that you hadn’t yet considered.
If you already have a general location in mind, it may be worthwhile to speak to other business owners leasing in the area. You can learn about the pros and cons of the area, which landlords have a good reputation and those you may want to avoid.
If you’re ready to find the perfect office space to lease, get in touch with Chris Falk today. With more than 16 years of experience, he knows the market inside and out. Commercial real estate can be a stressful need for many business owners, but you don’t have to go it alone with the help of an experienced CRE broker. Contact Chris for any of your CRE questions or needs at (801) 416-1024 or firstname.lastname@example.org.