- September 20, 2017
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Many business owners find themselves needing to lease commercial space. This can be a bit daunting if you’ve never leased commercial property in the past. Our friends at SVN | SouthLand Commercial recently published an article on how to find commercial property for lease. Although they are based in Florida, their article is very relevant for finding commercial property here in Baton Rouge. Stephanie, the author, gives three main points. First, she identifies some key points that the tenant should be aware of, prior to searching for their commercial space. Then, she gives insight on becoming aware of what’s available on the market. After that, she points out the value in getting professional advice from a commercial broker. Below is an excerpt of the article. If you find it interesting, please click the button at the end to read the full article!
How to Find Commercial Property for Lease
When looking for office space, industrial real estate or some other commercial property for lease, it’s helpful to follow some general rules to get the perfect property and the perfect lease agreement. Whether you start your search online or contact a commercial real estate agent for help, there are a few things you need to have in mind when you start your search.
Know What You Need
Size – It is important to know how much space you are currently using in order to understand how many square feet you will need to move into. Your current lease should list the square footage of your space. Ask yourself if you need room for more employees or if you have unused space that would allow you to downsize in your next location. Plan ahead to account for expected growth in the next one to three years. You don’t want to be locked into a long term lease and run out of room in your space.
Location – Take some time to consider what location factors are important to your business. Does your business need retail visibility on a road with a high traffic count? Do you need to be located near your current customer base? Is it important to be located close to where your employees live to reduce their drive time? Would you be willing to sacrifice having a prime location for rent savings?
Timing – Consider how urgent your need for new space is. If you have a few months before you need to make a move, you can take some