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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.
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.
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.
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.
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.
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