Finding the right commercial building for your business will take time. That’s because your commercial space is a long term investment that will have a huge impact on your overall business. Here are some tips you should follow in order to find the right commercial building for your business.
Find The Right Commercial Real Estate Broker
The first part of finding the right commercial building is to find the right commercial real estate broker. Whether you are looking for raw land or an existing building, a commercial real estate broker with have special insights so you can find the right building. One of the biggest benefits of a commercial real estate broker is that she will understand the market and be able to steer you in the right direction. This can help you create a shortlist of properties to look at. Overall, this will save you time and not distract you from the day to day operations of your business.
Find A Space That Can Grow With Your Business
It is important to find a place that will grow with you over the long term. The last thing you want to do is find a place that will be too big for you just a few years after moving in. Yes, you don’t want to find a place that is too big for your existing business. However, you will want to have a space that is expandable. Consider a commercial space that can expand your capacity by up to 25% to 50%. This will allow you to have enough potential space without compromising your budget.
Consider Your Neighbors
Just like buying a residential property, you will want to consider the neighbors that will be located next to your building. If you find yourself next to certain industrial businesses, you may have to contend with loud noises, lots of traffic, or perhaps dust or industrial pollution. It is a good idea to survey the area around the building for a couple of days to see what your commercial neighbors are like before you lease or purchase the properties.
Where Are Your Employees Located?
You want to make sure that your building is located in an area that is close to where your employees are located. If your employees are concentrated in one part of the city, then it makes no sense to build or lease a building that is all the way across town. This will increase your team’s commuting time and lower productivity. Find a place that will make it easy for the majority of your team to go to each morning.
Make Sure the Building Is Durable
Whether your building is used to house offices or inventory, you want to make sure that the structure is strong. You don’t want to have to close down your building or shut down operations because a large storm causes any roof or structural damage. Consider steel buildings or other structures that can withstand the worst weather in your area.
Consider The Parking Situation
You will want to make sure that building your lease or build will have adequate parking. If you don’t have the right type of parking around your building, then your team will have to park offsite and walk to your office. This can create a loss of productivity.
Commercial Park? Business Park? Or Neither?
You should consider whether your building will be located in a commercial park, business park, or neither. A commercial park tends to have cheaper rents while a business park is intended for professional offices such as medical and legal practices. You can also opt to not have your building in any type of park. Each of these locations has its own advantages and disadvantages. It is a good idea to explore each type of location for your business.
Get Your Business Into the Right Building
Finding the right commercial building will consist of a number of factors. You will want to find the right commercial real estate broker, find a space that is expandable, consider your neighbors, factor in your employees’ locations, consider the durability of the building, and choose whether you want to put your building a commercial or business park. By doing extensive research, you will find the right building for your business.
