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 most important thing to remember is what the the cost of the space will be and what that cost means to you. It would be a bad idea to get into a new fancy space that takes a large bite out of the company's bottom line. If your building was to take a large chuck of the company's money it could hurt your product or service as you may not have enough capitol to keep it at its current level of quality.
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.
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.
If you take a look in these location and still can't find what you want don't worry, there are other ways of searching for property. At this point you want to use offline resources such as your local newspaper and the local papers of the towns you are interested in having your business. One note, take a look at the tax rates in each town to determine if things will be to expensive.
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.
Once all this is complete the time has come to make the move. Sign your John Hancock on the agreement and let your new commercial real estate help your company blossom.
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 most important thing to remember is what the the cost of the space will be and what that cost means to you. It would be a bad idea to get into a new fancy space that takes a large bite out of the company's bottom line. If your building was to take a large chuck of the company's money it could hurt your product or service as you may not have enough capitol to keep it at its current level of quality.
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.
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.
If you take a look in these location and still can't find what you want don't worry, there are other ways of searching for property. At this point you want to use offline resources such as your local newspaper and the local papers of the towns you are interested in having your business. One note, take a look at the tax rates in each town to determine if things will be to expensive.
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.
Once all this is complete the time has come to make the move. Sign your John Hancock on the agreement and let your new commercial real estate help your company blossom.
About the Author:
If this article was helpful to you and you want to know more about commercial real estate and other aspects of real estate then visiting this location is sure to be beneficial. If your interested in receiving FREE real estate information to your inbox then visit this spot and look for the newsletter sign up. Thank You for reading:)
No comments :
Post a Comment