Examining the True Costs of Opening a New Restaurant

Opening a restaurant is a costly endeavor to say the least. With so much volatility in the market and no guarantees that your establishment will take off with your intended audience, it can feel like an uphill battle before you even start the initial planning process for a new restaurant. Are you simply revitalizing a previous restaurant that’s already built out with a full kitchen, gas, and electrical capabilities? Or are you transforming a new space to suit your needs, requiring architects, designers, general contractors, electricians, and plumbers? What’s the restaurant market like in your city, and how expensive are the professionals you’ll need to bring onboard to get started?

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

A Complete Guide to Leasing a Restaurant Space

An endeavor into the restaurant business is, needless to say, a challenging one. Establishments come and go like the direction of the wind, leaving business owners reeling and skeptical. Despite these challenges, finding the right location in the right neighborhood will reap major benefits for a restaurant owner of any experience level.

Before you start searching for the ideal spot, there are some things you need to know about leasing a restaurant space. This guide will transform any aspiring restaurant owner into a well-equipped and savvy commercial real estate expert so you and your partners can find the perfect location for your dream establishment.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

What to Consider When Moving Into A New (Or Your First) Office [Infographic]

Infographic of What to Consider When Moving Into A New (Or Your First) Office

Moving into a new office can be a challenge both logistically and energetically. Finding an office that suits your business needs is only the first part of the process — moving in and readjusting to the new space can take some effort as well.

By having a detailed checklist of factors relating to your relocation, you can save yourself a lot of the hassle that can come up with new moves, especially if this is your first office.

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How to Choose the Right Tenant Representation Broker

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.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

A Simple Guide to Calculating Operating Expenses for Office Buildings

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.  

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

Explaining the Various Types of Commercial Real Estate Leases

Signing a commercial lease agreement

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.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

Navigating the Commercial Real Estate Lease Process

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.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

7 Considerations When Negotiating an Office Lease Renewal

Negotiating an office lease

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:

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

The Most Viable West Coast Cities for Startups

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.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.

Life in Austin: How Commercial Real Estate Influences this Texas Powerhouse

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.

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John is the Regional Director of OfficeSpace.com where he heads broker relations and sales. Prior to being Regional Director, he was the Operations Director for the company’s property database. John has over 25 years of experience working in the commercial real estate industry. Before OfficeSpace.com, John was a commercial real estate broker for the Norman Company in Seattle, WA.