Looking to grow your business? Have you explored the many benefits that your commercial real estate can offer to help achieve your goals? Your first impression is often a lasting impression. Whether you choose to own or lease, your workplace should be so much more than an efficient and affordable place to develop your product and house your workforce. It should also be an inviting place to enhance your:
Collaboration and Camaraderie
Branding and Identity
Most everyone in the innovation and technology space is spread thin – often wearing multiple hats. Understanding and evaluating the myriad of considerations in choosing the best commercial real estate option can be a daunting task. Just knowing the right questions to ask to thoroughly vet and make a well-educated decision can often be challenging. Some of the basic building blocks in a space to consider are:
Functionality and Flexibility
Image and Appeal
Adding to the complexity of a sound commercial real estate decision is the proverbial tug-of-war between Tenants and Landlords and Buyers and Sellers, which is further compounded by ever-changing market dynamics, such as:
Land and Product Scarcity
Rising Interest Rate
Material and Labor Shortages
Zoning, Permitting, and Regulatory Approvals
Environmental and Wellness Quality
Balancing what you need today with what you want to expand your business tomorrow is a thoughtful process that can yield many benefits with the right preparation and methodical implementation. Here are a few macro steps to the process to discuss with your Commercial Real Estate Tenant Representation Adviser:
Customized Strategic Planning
Evaluation of Market Alternatives
Initial Negotiations and Analysis
Design and Pricing of Tenant Improvements
Final Negotiations and Legal Documentation
Ongoing Landlord/Tenant Relations
Along with human capital and technology, Commercial Real Estate is typically perceived as one of the three largest expense items for a company, particularly with today’s rapidly rising costs. Innovation and Technology based companies can seize the opportunity to turn this expense into an asset, increase return on investment, and make it so much more. Knowing how to balance your business drivers with the multitude of external influences to structure the optimal solution that remains aligned with your objectives is the key to success.
In this fast-paced world, the very first step is to align yourself with the right Tenant Representation brokerage/consulting team that has the creativity, dedication, experience, and responsiveness to seamlessly guide you through how to put your commercial real estate to work for you to maximize your growth.
If space exploration is in your future let us know. We have the expertise and the resources to help you find your next workplace.