- September 27, 2018
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If you’re thinking about leasing commercial office space, there are a few things you will want to think about before getting your search started. The commercial market is constantly changing, so even if this isn’t your first time leasing commercial space, it’s important to take some time to figure out a game plan. Follow these tips to ensure that the search for your next space is easy from start to finish.
Get Clear on Your Budget
The fastest way to thwart your search for the perfect commercial office space is to be unclear on what you can afford. Committing to a property that is well above your means could result in the ruin of your business. Signing on for a space that’s too small just to save a few bucks, however, could pose its own set of problems as you stand to outgrow your office before your lease is through. Go through your finances with a fine-tooth comb before you even begin your search. Having a defined range of what you are willing to spend will help you to find the property that perfectly suits your needs.
Give Yourself the Right Amount of Time
Finding the right commercial office space isn’t going to happen overnight. Between the process of touring properties, deciding on one, negotiating a lease, and making any necessary renovations to the space so that it will best accommodate your company, you can probably expect the entire process to take upwards of six months! Knowing this, make sure that you plan ahead rather than waiting a month before your existing lease is up to start your search.
Give a lot of thought as to where you would like your new commercial office space to be located. Location is going to determine how much exposure your company gets, how much foot traffic it sees, how accessible it is to your employees (given its proximity to major roadways and public transportation) and how convenient it is for the needs of your company (depending on whether it is near to restaurants, office supply stores, and other necessary places). Once you sign your lease you are locked into it for anywhere from 3 to 10 years, so make sure it is something you will be happy with for a long time.
Don’t Overwhelm Yourself
It can be tempting to want to view every single commercial office space that’s within your price range and target location, but this is actually counterproductive. Securing your new space can be relatively stressful in and of itself, with your focus on how to most easily transition your business from one location to another. Avoid adding on any additional drama by narrowing it down to 4 or 5 buildings before deciding to tour properties. Having a handful of properties that are similar to one another will make it easier to compare apples to apples and take out some of the overwhelm that might arise from adding more options to the table. If none of your initial properties make the grade you can always go look at more.
Listen on Your Property Tour
When you’re touring a commercial office space, take the time to listen closely to what the presenting realtor is telling you. They have done their research and understand all of the things that make the property unique, as well as the downfalls. This is also a reason why it is so important to have your own representation. A realtor who is representing the property owner is looking out for their best interests and may fail to disclose important information. A realtor looking out primarily for you will know what questions to ask and will point out anything that doesn’t sound or look right.
Negotiate Your Lease
Once you’ve found the right commercial office space, don’t just blindly accept the terms of the lease as they are put forth to you. Commercial leases are highly flexible and can be negotiated so that the terms feel more reasonable to both parties. Hire a professional who can help you comb through the lease and highlight anything that doesn’t sit well. Whether it be the length of the lease, negotiating in a clause for early termination, or working out a higher tenant allowance to make revisions to the space, your team will work diligently to get you the best deal possible.
Searching for Commercial Office Space in Baton Rouge or the Surrounding Areas?
Now that you know the nuances that will help you find the perfect office space for your needs, the next step is to start looking at your options. At SVN | Graham, Langlois, & Legendre, LLC, our team of devoted agents have over 99-years of combined experience getting our clients what they need and want! We have worked diligently to maintain our pristine reputation and will continue to provide the Baton Rouge area with our unmatched devotion to getting the job done right. Take a look through our database of available commercial office spaces today and reach out to start looking for your next space!