Know what to look for when searching for property to buy or lease.
Find a property that fits your business culture, budget, size, and desired location.
Look for places that are ADA accessible.
Find out what types of business the zoning laws for the property allow.
Have a thorough inspection done of the property.
Questions to Ask
To get the most out of working with a commercial real estate broker, it helps to know what questions you should be asking.
Where do you see the market going?
What is your experience with similar clients?
Tell me about your experience in the neighborhood / city / area of focus.
What To Expect When Leasing Or Buying Commercial Real Estate
It’s easy to assume that commercial real estate brokerage is similar to residential brokerage, but that’s not the case. There are more complicated, nuanced factors and negotiations that go into commercial real estate dealings, and a commercial real estate broker can be expected to represent your interests and give you expert advice.
Brokers want to make good use of your time and manage your expectations throughout the process. A lot of time and effort is spent up front collecting data and developing a marketing plan and marketing materials to attract the most qualified leads. If you’re listing, you can expect leads with genuine interest and the means to close a deal. If you’re on the hunt for a new property, using a broker can alert you to opportunities that are not publicly available. In fact, publicly available listing and commercial websites only show a fraction of the actual marketplace.
Commercial real estate is a big investment. You are the decision-maker; the broker’s duty is to be loyal to your interests. Expect several viewings of the property, and expect a lot of negotiation and personalities. There are a lot of variables in a commercial real estate transaction, many of which emerge late in the process. A commercial broker can help you recognize and navigate those variables as they come up.
- Consulting services / strategic advisory
- Corporate services
- Land acquisition and assemblage
- Location and incentive analysis
- Market trends
- Property management
- Property valuation
- Public incentives and evaluation
- Sale and leasing of office / industrial property
- Research and surveys
- Site selection and build-to-suits
- Tenant / buyer / landlord / seller representation
To learn more about how CRESCO, Greater Cleveland’s leading commercial real estate company, can help you with your property needs, contact us at 216.520.1200, or fill out the form below. A CRESCO professional will contact you shortly.