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.
In this article we will say you have a business currently and your looking to expand. When it comes to searching for commercial real estate remember to look at potential spaces from the prospective of your business years from now. Consider what your business of the future will need. Will you need more floor space, more office space or more storefront? These factors are why you're moving after all so make sure you get what you want.
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.
As your search for property gets under way you want to start on the internet. This is the easiest way to get started right from your current location. The first website you should visit would be The CoStar Group. This company has a nice website for searching commercial real estate that will go far in helping your search. They feature a filtered search which can help you target just the right location.
If that site doesn't have what your looking for The Wall Street Journal website also has listings. Their site also has a search function that can help you pinpoint what you need in a building. On this site you will also find news and information on commercial real estate . Furthermore, The Wall Street is a well know business so you are likely to find what you;re looking for there.
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.
This whole process is not really that hard so try not to over think it. As long as you do your research and make a good decision then you'll be fine. When you have found the right spot be sure you understand all that's in the lease agreement or in your new mortgage if your building or buying a location. The common lease agreement in commercial real estate is 3 years not 1 year like residential real estate.
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.
In this article we will say you have a business currently and your looking to expand. When it comes to searching for commercial real estate remember to look at potential spaces from the prospective of your business years from now. Consider what your business of the future will need. Will you need more floor space, more office space or more storefront? These factors are why you're moving after all so make sure you get what you want.
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.
As your search for property gets under way you want to start on the internet. This is the easiest way to get started right from your current location. The first website you should visit would be The CoStar Group. This company has a nice website for searching commercial real estate that will go far in helping your search. They feature a filtered search which can help you target just the right location.
If that site doesn't have what your looking for The Wall Street Journal website also has listings. Their site also has a search function that can help you pinpoint what you need in a building. On this site you will also find news and information on commercial real estate . Furthermore, The Wall Street is a well know business so you are likely to find what you;re looking for there.
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.
This whole process is not really that hard so try not to over think it. As long as you do your research and make a good decision then you'll be fine. When you have found the right spot be sure you understand all that's in the lease agreement or in your new mortgage if your building or buying a location. The common lease agreement in commercial real estate is 3 years not 1 year like residential real estate.
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.
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