How To Hunt For Commercial Property
Leave Emotions At Home
When you
check out a commercial space, try to put your emotions aside. Too often business
owners get caught up in the moment and don’t really examine the space. Keep in
mind your main focus should be whether it will work for and attract your
customers. It’s best to leave your emotions aside until you have negotiated the
lease terms. You’ll want to make sure you do not sign a lease until you have
all the information, including knowing how the building maintenance works
regarding repairs, curb appeal and other essentials; these should all be part
of your lease agreement before you sign it.
Have More Than One Option
You’ll want
more than one option for a commercial lease; having comparables to see will
help ensure you tick off the most important items on your list of qualities you
are looking for in a space and a location for your business. Keeping a running list
of pros and cons about each property will help you narrow down which will work
best. In addition to the monthly rent, it may help you to know the price per
square foot of each space, to gain a better perspective on the value you’re
getting for your money.
Of course,
most business real estate decisions are primarily about location. If you want
to capitalize on heavy foot traffic in the most densely populated state in the
country, check out commercial properties for lease in NJ to ensure the properties you’re
targeting are in areas that will provide high numbers of potential customers. Most
property management companies will also offer statistics on local demographics
to ensure you’re targeting not only the right number of potential customers,
but the right type of traffic, as
well. For instance, whether you seek more affluent customers or your business
is targeted at the middle class, can help you zero in on the right location for
your business.
Scout the Prospective Area
If you are
very close to signing a lease on a commercial property, check out the area
surrounding the property. Is it busy? What time of day is it least busy? Who
are the neighboring tenants? Knowing this information can greatly impact your
final decision; you may want to ensure traffic is prevalent at the times when
you’re open for business, or you may want to ensure your employees have options
nearby for business lunches. If the property is near other commercial
properties that draw in a good amount of customers, your business could
automatically benefit, as well, if you’re not in direct competition. Be sure to
visit the area at different times of the day, including your key hours of
operation, before signing a lease.
With all of
the above information at hand, you should be able to make a sound decision for
your business and wind up in a property that helps you build a successful
business.
Labels: commercial property for lease
11 Comments:
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