Common Commercial Real Estate Questions – Effective Realty Advisors

Common Commercial Real Estate Questions

By Michael Staskiewicz | EVALUATE

As a business owner, you’re concerned with running your organization as effectively as possible. That entails focusing on hiring practices, company culture, SOPs, and a thousand other details on a daily basis. When it comes time to find an office space for your company, it also includes dealing with an entire industry separate from your own. To demystify our industry a little, we wanted to address some of the most frequently asked questions we get from business owners.

What’s the Biggest Difference between Commercial Real Estate and Residential?

In general, leasing is far more common in commercial real estate, especially in large urban areas. Commercial properties are often owned by large holdings companies who lease out to tenants. Lease terms also tend to be longer, at three, five, ten or more years, rather than the one-year leases common with residential spaces.

How Important is Price Per Square Foot?

There’s no denying that price per square foot is an essential factor to consider when choosing a space. However, it’s not the be-all-end-all number that many brokers make it out to be. Flexible lease provisions — renewals, contractions, expansions, subleases, etc. — can be just as valuable as the low price per square foot figure. And, of course, you have to weigh the value of one location against another. The truth is that there’s no single calculation that will let you know the best deal for your business but the focus should always be moving to what will make your team the most productive.

What Are the Benefits of a Great Office?

Obviously, you need the basics that will allow your team to do its job. The best office spaces, though, also end up serving as powerful recruiting tools to attract the best talent. Employees want to work in comfortable offices that facilitate great work. Space for collaborative areas, room for growth, overall image, and cool features should factor into your decision.

We love our customers, please feel free to
chat with us.

Follow

About the Author

Michael Staskiewicz, CCIM, Managing Principal of Effective Realty Advisors and a team of strategic partners, help financial decision makers of mid-size companies perfectly align their real estate with their business needs, so that they increase profits and improve operational and financial performance.