Searching For Commercial Real Estate

By Kevin Ierardi

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 biggest factor to consider is the cost of the new space. This space should not take so much from your bottom line that it affects your product or service. The last thing you want is to lose customers because your product has become less valuable. This can happen if there is not enough money in the business because your paying it all to a lease or mortgage. This can be tricky sometimes because the new space is probably not all getting used as the space is for the future of the company.

When the search for your property begins a good place to get started is right here on the internet. There are a couple of companies that stand out online from the others. The first company you should take a look at is called The CoStar Group. These people have a great website that is perfect for searching commercial real estate. They offer a filtered search query and a lot of very useful information that can help you choose the building or store that is just right for your business.

After you have gone through that site, if you have found nothing of interest the next stop on the internet would be The Wall Street Journal website. This website is also a great resource for commercial real estate. The Wall Street Journal is a popular source which means this may be the location you find what you need. They also have up to date information on the current market and a filtered search option.

If you take a look in these location and still can't find what you want don't worry, there are other ways of searching for property. At this point you want to use offline resources such as your local newspaper and the local papers of the towns you are interested in having your business. One note, take a look at the tax rates in each town to determine if things will be to expensive.

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.

Getting a new and bigger space for your company does not have to be something that is difficult. Its just important that you do your homework and make sure the building is right for your company. After you find the place you want it's vital that you know the terms of your new lease agreement. In most cases a normal commercial lease is 3 years in duration. If you are building a new facility or buying an existing one then you need to make sure you're clear on the terms of your mortgage. Bear in mind the taxes and insurance you will also be responsible for.

After you have dotted the T's and crossed the I's it's time to make the move to the new space. Sign your name and let your new commercial real estate space begin to work for you.


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