If you own a business or you want to start a new one there is a good chance that you need some commercial real estate. When the search begins you will find there are many different types to choose from.
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.
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 you come up empty when looking through that site the next place that you want to look at is The Wall Street Journal. This is a well known resource and your chances of finding what you want here are high. Their site features a built in search, like CoStar that will assist you in locating property where you want.
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.
After looking through your local newspapers you may want to consider taking to the street. Get in your car and drive to locations where building you would be interested in would be located. Keep an eye out for signs that say the building is available. Signs like for rent, for sale or for lease are what you're looking for. If you see something that looks like it has potential then write down the contact info and contact the people.
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.
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 you come up empty when looking through that site the next place that you want to look at is The Wall Street Journal. This is a well known resource and your chances of finding what you want here are high. Their site features a built in search, like CoStar that will assist you in locating property where you want.
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.
After looking through your local newspapers you may want to consider taking to the street. Get in your car and drive to locations where building you would be interested in would be located. Keep an eye out for signs that say the building is available. Signs like for rent, for sale or for lease are what you're looking for. If you see something that looks like it has potential then write down the contact info and contact the people.
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:
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