How to look for Commercial Real Estate Space for your Business
When searching for Commercial Real Estate there are many different types of commercial spaces you can rent and many factors to consider before signing a lease. The type of space you rent can affect the type of lease. Price per square foot and picking the wrong location can most likely hurt your business whereas selecting the right type of space in the right location will help your business grow.
Do your homework before looking for business space to lease. Make an organized checklist of your requirements ranking your most important priorities first so you will have a focus of your specific business needs and when to start compromising when selecting a property.
Three good points to consider:
- Type of Commercial Properties to lease – businesses should typically rent space in a business park, industrial park or a retail location depending on the nature of your business. They will all have pros and cons associated with them but determining what type of space you require and what makes the most sense for your business.
- Commercial industrial space – another consideration is commercial industrial space which can also be used in place of traditional commercial office space. There are advantages and disadvantages to this idea with the main advantage being you can lease at substantially cheaper rates. Weigh your options carefully before signing.
- Sublease commercial space – this can be a good option if you want a short-term office space in the interim until you can make more permanent plans to lease or buy commercial space in the near future. Before signing a sublease know your terms and conditions and negotiate a realistic lease expiration that works for your current business plan.
Consider researching and writing a technical feasibility study which will help you focus on your business plan and address all of your business requirements to be carefully considered when leasing commercial space.
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