Tips for picking your next commercial space

| Oct 3, 2019 | Real Estate |

Do you run a business? Are you tired of operating the business out of your own home? Do you need more space for a growing company? If so, it’s time to consider renting or buying commercial space for your company. This can be very challenging, especially if you don’t have the budget for renovations or to build a brand new complex.

The first step in finding new commercial space for your company is to build a list of the features you’d like to have. Make sure they are attainable features, especially if you have a limited budget. The features should be ranked by a matter of importance and need.

Be sure to include input from your employees, if you have any. The best companies out there include their employees feedback on issues such as finding new space. They want their employees to be comfortable and almost feel at home when they are at work. Asking for their input can make your search a little bit easier.

Be sure to look at commercial space that best reflects the industry in which you operate. For example, don’t try to rent an office when you are in retail. Or, don’t rent a warehouse when you have nothing to put in storage there.

Be mindful of comps in the area. You want to compare the spaces you find with other similar buildings in the area to make sure rent is not too expensive for what you are getting.

As you can see, it’s important to find the right commercial space for your company. It is a challenging process that is made easier with the help of a real estate attorney. An attorney will walk you through the process and make sure that the rental agreement is up to standards.