When a business is in the market to lease a new location, it will have a list of specific requirements. After all, a business's space is the domain that represents a company's culture, ideas, and reputation. Unfortunately, finding the ideal space in the desired location at the right price can be a challenge. A commercial real estate broker can help through the service of tenant representation.
Tenant representation refers to a commercial broker, a tenant representative, or a tenant rep who exclusively represents a business's interests when leasing a commercial space. A tenant rep is a licensed professional specializing in various properties and helps identify the ideal location while negotiating the best price.
Proper tenant representation is essential for business owners as it can save valuable time and resources. In addition, commercial real estate brokers have the market knowledge to show properties most tenants do not have access to.
Additionally, working with a professional broker to help negotiate a lease provides leverage with the landlord. A tenant representative will also lower your risk of making treacherous real estate decisions by helping guide you through analytical, logical decisions.
Consider the following when searching for commercial real estate for your business:
Timing - One of the first considerations when looking for space will undoubtedly be focused on timing. This encompasses when the lease will commence and for how long. Often, the longer the term of a lease, the more concessions. It is also essential to consider the timing of any needed improvements. For example, is the property turn-key, or will the property require modification? A commercial real estate broker can easily help with planning and negotiating the terms of your contract to accommodate these needs.
Size -The size of the space is not only a consideration in the initial stages of searching for a property but also when planning what kind of space your company needs for the future. A commercial real estate agent has experience helping businesses plan for the size of space needed now and for the future.
Specialized Needs - Some businesses have unique requirements, including high fiber-optic internet, sprinkler systems, or need to be in a stand-alone building. Often time specialized needs will narrow down the options to one or two buildings. Consider these needs when evaluating options.
Location - Aside from budget, location is a decision of the utmost importance. Identify what part of town is ideal for your business. Do you prefer to be in the suburbs, downtown, or a rural area?
It is a commercial broker's responsibility to compile all these elements and help you find the ideal property. The perfect space does not always exist or may be hard to find, but Evan Meyer can help you identify a building that meets all your needs.
Contact Commercial Real Estate Broker Evan Meyer
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