Chances are if you're looking to expand your business or build a new start-up then you are in the market for commercial real estate. This is a diverse market and buildings will vary depending on what your business does.
For the sake of an example, let's say you need a new building to help your current company expand. As far as commercial real estate is concerned you want to look at the space from the prospective of growth. This means you must consider what your company will need at it grows. These needs will vary depending on what your company will do moving forward. For some people more office space is what they need. Others will be looking for a bigger storefront or warehouse.
The main factor to consider is what the cost of the space will be. It would not be wise to to buy or lease a space that is going to take a chuck out of your bottom line. This could further hurt your company if your product or service was to become less valuable because you could not afford to keep it at its standard. This may seem like common knowledge but it does tend to be overlooked.
When setting out on your new search to find a new space for your company the internet is probably where you want to begin. one of the best companies on the internet for conducting your search for commercial real estate is the CoStar Group. The company's website has a nice search function which can help you narrow down the building that's just right for you, They also offer a lot of information that can help you with your selection.
After you have gone through that site, if you have found nothing of interest the next stop on the internet would be The Wall Street Journal website. This website is also a great resource for commercial real estate. The Wall Street Journal is a popular source which means this may be the location you find what you need. They also have up to date information on the current market and a filtered search option.
Now, if you have been searching online and you have not found anything that has really peaked your interest then its time to consider other methods. It's not time to start the offline search. This search should begin with the classified ad section of your local newspaper. If there is nothing there then look in the local papers of the towns where you would consider starting or moving your business. As you do this remember that the tax rates will vary in different areas so make sure you know what that can add to your monthly costs.
If the newspaper idea is a dead end it's time to get in the car and hit the road. Head to industrial areas or dense commercial areas and look for places with signs on them like "For Sale" or "For Lease." When you come across a property that you think will work, write down the number and call it to set up a meeting.
Locating a new space does not have to be something that takes a year to do or something that takes over your mind. The main thing to do here is your research. Don't jump at the first place you see, make sure it the place will work for you. After you find the right location it's very important that you know the terms of your lease. In the commercial real estate world a common lease on a space is 3 years. If you're not going to lease and you're going to buy or build then be sure you know all the in's and out's of your mortgage agreement.
After all this is complete it's now time to make the move into your new facility. Just sign on the dotted line and start letting your new commercial real estate space help your company to grow to new heights.
For the sake of an example, let's say you need a new building to help your current company expand. As far as commercial real estate is concerned you want to look at the space from the prospective of growth. This means you must consider what your company will need at it grows. These needs will vary depending on what your company will do moving forward. For some people more office space is what they need. Others will be looking for a bigger storefront or warehouse.
The main factor to consider is what the cost of the space will be. It would not be wise to to buy or lease a space that is going to take a chuck out of your bottom line. This could further hurt your company if your product or service was to become less valuable because you could not afford to keep it at its standard. This may seem like common knowledge but it does tend to be overlooked.
When setting out on your new search to find a new space for your company the internet is probably where you want to begin. one of the best companies on the internet for conducting your search for commercial real estate is the CoStar Group. The company's website has a nice search function which can help you narrow down the building that's just right for you, They also offer a lot of information that can help you with your selection.
After you have gone through that site, if you have found nothing of interest the next stop on the internet would be The Wall Street Journal website. This website is also a great resource for commercial real estate. The Wall Street Journal is a popular source which means this may be the location you find what you need. They also have up to date information on the current market and a filtered search option.
Now, if you have been searching online and you have not found anything that has really peaked your interest then its time to consider other methods. It's not time to start the offline search. This search should begin with the classified ad section of your local newspaper. If there is nothing there then look in the local papers of the towns where you would consider starting or moving your business. As you do this remember that the tax rates will vary in different areas so make sure you know what that can add to your monthly costs.
If the newspaper idea is a dead end it's time to get in the car and hit the road. Head to industrial areas or dense commercial areas and look for places with signs on them like "For Sale" or "For Lease." When you come across a property that you think will work, write down the number and call it to set up a meeting.
Locating a new space does not have to be something that takes a year to do or something that takes over your mind. The main thing to do here is your research. Don't jump at the first place you see, make sure it the place will work for you. After you find the right location it's very important that you know the terms of your lease. In the commercial real estate world a common lease on a space is 3 years. If you're not going to lease and you're going to buy or build then be sure you know all the in's and out's of your mortgage agreement.
After all this is complete it's now time to make the move into your new facility. Just sign on the dotted line and start letting your new commercial real estate space help your company to grow to new heights.
About the Author:
Want more FREE Valuable Real Estate Information? If your looking to do more research on this topic this is a great place to start. Here you will find more information as well as links to further your search. Thank You For Reading:)
No comments:
Post a Comment