Commercial Real Estate

Understanding Your Commercial Lease Agreement | Space Planning and the Early Stage Commercial Leasing Process

To get the best deal, have your space meet your needs, and be in the best position to move seamlessly through the commercial leasing process, it is important to plan your commercial space. Today’s post highlights some of those key early stage considerations that will help you optimize the space planning process for your business.

Identify Your Ideal Space

The first step to take once you’ve decided that you’re ready to lease a commercial space is to identify what you type of space you’re looking to lease. A good place to start is to identify the specific use for the space and what space characteristics are required for your business. Make a list of those characteristics that are critical, a list of...

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Commercial Real Estate

Understanding Your Commercial Lease Agreement | The Value of Hiring a Broker

If your business is seriously thinking about leasing new commercial space, you will need to identify the space, negotiate the terms of a deal, enter into a letter of intent, and then negotiate a commercial lease agreement to define your rights in your new space. This process can be complicated, and it can also be relatively simple. Whether it is complex or simple depends on factors such as your intended use, the term of the lease, the size of the space, the availability of space in the market, and other factors. Usually it is somewhere in between. Regardless of the size of your lease, you can benefit from the services of a licensed commercial real estate leasing broker.

A broker can be...

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Commercial Real Estate

Understanding Your Commercial Lease Agreement Series

When starting or expanding your business, you’ll likely be looking at leasing a new commercial space. Some small (and a few large) businesses may go from startup to dissolution without entering into a commercial lease agreement, but the vast majority of businesses will at some point need a place to house employees, store inventory or supplies, and meet with clients and customers.

Indeed, for certain businesses, the location of a commercial space can be one of the most influential factors in their entire business plan; a commercial lease agreement may be one of the largest contracts into which a business will enter.

Understanding what goes into a commercial lease, what landlords want from tenants, and what tenants can expect and should ask...

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Commercial Real Estate

A Guide to Leasing Commercial Office Space

Leasing commercial office space often involves a unique set of complexities and elements. Today’s post will boil these complexities and elements down to a very basic level. The goal is to provide a simple guide to assist startups in finding the ideal work space, under reasonable terms.

Typical Pricing for Commercial Office Spaces Generally, commercial office space is leased on a “dollars per square foot per year” basis. For example, you may see lease pricing in terms such as $15/foot; 3,000 square feet. Under this scenario, the lease would be $45,000 per year, paid off in monthly installments of $3,750. The landlord may also require a security deposit, similar to when you rent a residential space.

Useable Square Footage Often, the numbers aren’t as...

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