Finding the right fit in a commercial real estate lease is a challenge unto itself. Aside from researching, budgeting, and planning for an office move or expansion, there’s the lengthy and sometimes stressful endeavor of negotiating lease terms and what you’ll be responsible for paying on a monthly basis.
An effective strategy is to work with a tenant representation broker to help alleviate the stresses of locating the proper space and negotiating the best possible terms for you and your company. But finding the right tenant rep broker can be an overwhelming process to some. With a wide array of qualified, capable brokers in the real estate market, it can be difficult to decide which broker is the best fit for your situation.
Some tenant rep brokers have different specialities, relationships, and qualities that set them apart from one another. Certain tenant rep brokers work strictly within the boundaries of the local market, leveraging personal relationships and neighborhood know-how, while others have the support system that comes with a national brokerage.
To help you navigate the process, we’ve assembled this guide to answer common questions, provide you with a list of things you should ask a potential tenant rep broker, and allow you insights into how a tenant rep broker can benefit your company.
Continue reading “How to Choose the Right Tenant Representation Broker”
When considering a commercial office space lease, it’s important to carefully investigate any non-rental costs, what’s included in your rental agreement, and what you’re going to be responsible for on a monthly basis. While many commercial leases are likely to be triple net leases (in which the tenant is responsible for operating expenses on a pro rata basis in addition to the rental fee), these leases can be extremely varied and up to negotiation, leaving many tenants largely in the dark as to how much they can expect to spend each month.
In more popular and competitive markets, the operating costs can be as much as half of your base rental fee per square feet – and even higher in more concentrated downtown, financial, or business districts.
Continue reading “A Simple Guide to Calculating Operating Expenses for Office Buildings”
When it comes time to expand your business to your first office or upgrade to a more suitable location, there’s plenty to worry about. Budgetary concerns, logistics, and ensuring continuity of business during the relocation are all crucial elements. Before you consider how you’ll move, you should investigate your commercial real estate lease options to ensure your company enters into the right agreement for the right stage of your business.
Continue reading “Explaining the Various Types of Commercial Real Estate Leases”
An agreement between a business and a landlord is defined as a commercial real estate lease, with each agreement coming with its own restrictions, stipulations, and features that are negotiated during the final signing process. But before the ink is wet and you start calling moving companies, new and first-time business owners learn quickly that signing a commercial real estate lease can be a complex and lengthy process – especially if you’re operating in a competitive city or market.
Before you begin your search, you’ll need to be equipped to handle the ins and outs of the entire process from start to finish to find the right commercial real estate lease that fits the needs of your business and your budget.
Continue reading “Navigating the Commercial Real Estate Lease Process”
Hovering over your office real estate lease is always one thing: the lease renewal. Unlike residential leases, landlords will approach commercial leasees with proposals months in advance of the renewal date. Like residential leases, the terms for the renewed lease include a common element: higher rates.
What most businesses don’t understand, however, is that their fate is entirely in their own hands. Companies don’t have to simply bite the bullet and accept the higher rent conditions; instead, with savvy negotiating tactics and a few tips, you can often find middle ground with your existing landlords – or hunt for new space until the lease expires. Here’s what you and your team should keep in mind when it comes time to negotiate a commercial real estate lease renewal with your current landlord:
Continue reading “7 Considerations When Negotiating an Office Lease Renewal”
The idea that Silicon Valley is the proverbial bread basket of business innovation and disruption is finally, thankfully, squarely in the rear view mirror.
According to the 2017 Kauffman Index of Growth Entrepreneurship, startup growth is exploding nationwide – and well away from the Bay Area. That’s good news for business owners seeking affordable commercial real estate without sacrificing a chance at a potent and experienced talent pool.
However, the west coast continues to dominate the startup scene, with cities like Seattle, Portland, Los Angeles, and even San Diego (yes, San Diego) coming online and competing with Silicon Valley for the latest and greatest business ideas and innovations. There are plenty of reasons to consider each of the following cities when considering an expansion or setting up shop for your latest business endeavor, but it’s ultimately up to you to make it a reality no matter where you end up.
Continue reading “The Most Viable West Coast Cities for Startups”
Despite the ever-advancing wave of globalization in this connected world, no two cities are the same. While many share similar economic and development trends to cater to new and burgeoning industries, their location, culture, and specializations tend to affect the shape of a city’s future more than any other factor – save one.
Continue reading “Life in Austin: How Commercial Real Estate Influences this Texas Powerhouse”
Office deals in Phoenix in the first quarter of 2018 were white hot, with a number of large sales and leases taking place. According to CBRE, the net absorption in the Phoenix office market reached 154,716 square feet with nearly 1.3 million square feet of gross absorption.
Let’s take a closer look at a few of the big Phoenix office deals that closed at the beginning of 2018.
Continue reading “Market Zoom: 10 Big Phoenix Office Deals That Closed in 2018 (So Far)”
You have found the perfect office space for your company and now it’s time to sign on the dotted line and make it official – but what things should you ensure that you have in that office lease? After the ink has dried on the lease, there is no turning back, so make sure you don’t forget these five must-haves when signing an office lease.
Continue reading “Don’t Forget These Five Must-Haves When Signing an Office Lease”
The way the workforce, particularly millennials, want to work is pressuring more companies to harbor office space that speaks to a more collaborative setting. The traditional cubicle life is no more and well-designed spaces are stepping in to take its place. Even if your current office space is not collaborative, there are effective strategies that you can implement to market your space to the collaborative workforce.
Continue reading “Effective Strategies for Marketing Your Office in the Collaborative Workspace Genre”