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 this article we will say that you already own a company and you're looking to expand. When it comes time to shop the commercial real estate market it's vital to keep in mind what type of space your business will need as it grows. Consider what you will need such as a bigger warehouse, more offices or maybe a larger meeting space. However, these are no the only tings to keep in mind as look for property.
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.
When setting out on your new search to find a new space for your company the internet is probably where you want to begin. one of the best companies on the internet for conducting your search for commercial real estate is the CoStar Group. The company's website has a nice search function which can help you narrow down the building that's just right for you, They also offer a lot of information that can help you with your selection.
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.
So if you have taken a look at both these sites and have come up empty then the time has come to begin your offline search. The best place to get this started would be looking in your local newspaper. You can also look in the local newspapers of any town that you want your company to be in. Remember that the tax rates will change as you move to different areas and some may be very high, so be sure to check as you look around.
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.
After all this is complete it's now time to make the move into your new facility. Just sign on the dotted line and start letting your new commercial real estate space help your company to grow to new heights.
For the sake of this article we will say that you already own a company and you're looking to expand. When it comes time to shop the commercial real estate market it's vital to keep in mind what type of space your business will need as it grows. Consider what you will need such as a bigger warehouse, more offices or maybe a larger meeting space. However, these are no the only tings to keep in mind as look for property.
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.
When setting out on your new search to find a new space for your company the internet is probably where you want to begin. one of the best companies on the internet for conducting your search for commercial real estate is the CoStar Group. The company's website has a nice search function which can help you narrow down the building that's just right for you, They also offer a lot of information that can help you with your selection.
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.
So if you have taken a look at both these sites and have come up empty then the time has come to begin your offline search. The best place to get this started would be looking in your local newspaper. You can also look in the local newspapers of any town that you want your company to be in. Remember that the tax rates will change as you move to different areas and some may be very high, so be sure to check as you look around.
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.
After all this is complete it's now time to make the move into your new facility. Just sign on the dotted line and start letting your new commercial real estate space help your company to grow to new heights.
About the Author:
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