American Indian Owned Law Firm

Finding the right commercial space for your business

On Behalf of | Jul 18, 2022 | Commercial Real Estate Transactions & Leasing

Leasing a commercial property for your business is a big step to take. It may be one of the last things you do to prepare for opening your business, too, because you’ve spent time working out the logistics and figuring out how you’re going to make the most of your time in the space.

Finding the right commercial space is the biggest challenge. You want to save as much money as you can on buying or leasing a space, but you also want to make sure you have plenty of foot traffic and are visible to people passing by.

Finding the perfect commercial space

There are a few different tips that can help you find the perfect commercial space. These include:

  1. Figuring out your exact needs in terms of the size of the space and setup of the space.
  2. Figuring out which neighborhood would be best for your commercial space.
  3. Inspecting possible commercial spaces before investing in them.
  4. Getting details about the space’s current traffic.

Doing each of these things will give you the opportunity to look at different spaces based on your actual needs, so you can rule out those that won’t work for you or find those that could.

Negotiating is a key element in your lease

It’s a smart choice to work with a real estate agent and attorney, because you’ll need to negotiate the lease to make sure it’s one that works for you. You will want to negotiate a lower rate if you intend to stay at that location for a longer period of time, for example. You may also want to negotiate a lower overall rate or try to get other amenities covered.

Finding your perfect commercial space will take time

While you might be interested in several commercial spaces, the reality is that finding the perfect space can take time. It’s a good idea to start looking well before you plan to invest in the space, so you have time to negotiate and settle on a lease that benefits and protects you and the effort you’re putting into your business.