Selecting the right commercial real estate location can be a very time-consuming process. Knowing your priorities, considering your first impression of the property, finding out about security, evaluating defects, and having easy accessibility can all help you feel confident in your decision.
As a business owner, few things are as stressful as getting your business up and running or shopping for a move. Even if you need signing a lease quickly, it will make the difference, in the end, to do your research when choosing your next commercial real estate location. Consider a few factors that will play into your decision of selecting your new commercial space and how it may affect your business.
KNOWING YOUR PRIORITIES WHEN LEASING COMMERCIAL PROPERTY
As you start the journey of setting up shop for your new business or just need to upgrade your current situation, consider your list of priorities that will fulfill your needs. What is the best location for your business? Is the size going to allow for natural expansion? What sort of security is available?
CONSIDER YOUR NEEDS
Adapting your selection to the needs of your business is key when choosing the right commercial real estate location. If your business is in retail, you will want to make sure there is ample parking space for your customers. As a wholesaler, choosing a cosmopolitan space is less important than finding a space that meets your small wholesale or manufacturing operation. You will want to consider zoning regulations or activity restrictions.
KEEPING LOCATION IN MIND
The adage still rings true, location, location, location. Every business owner wants to choose a location that will cater to their customers but this could make or break your business. You’ll want to consider zoning, easy access to the supply chain, or existing surrounding culture to make sure it complements your business.
RELY ON YOUR FIRST IMPRESSION OF THE COMMERCIAL PROPERTY
Your first impression of a commercial space can give you the best gut reaction to how things will turn out. If you find that the property management team is not cooperating with your questions, this may be a big red flag. Older facilities may present themselves with attractive rates, but require more construction and maintenance in the end.
Look into the building quality and construction for layout and operations. Taking the time to dig into if the facility will meet your business needs is necessary to not lose out in the end – as there is no point in leasing an office building when you need a factory floor.
FIND AN INSURANCE BROKER YOU CAN TRUST
If you already have chosen the perfect location for your business, you need to make sure that it is secured, protected, and insured. CIII Insurance Services provides a broad range of Commercial, Employee Benefits, and Management Liability products. We have aligned ourselves with some of the finest carriers to deliver these products to you.