How to Choose a New Commercial Space

Choosing a new commercial space isn’t always as easy as deciding where you want to work and then finding a place that fits your budget. You also need to think about other factors that may impact your work and the performance of your employees. Professional agencies and companies like louis ceruzzi properties llc provide the assistance you need once you get an idea of what you want in a commercial property.


Total Cost

Long before you start looking at properties for sale or lease, you need to sit down and decide on your budget for the new building. Many people make the mistake of only considering the cost of the lease or purchase price without thinking about the other costs they face. If you buy the building, you may need to make some changes for the space to work for your business. Whether you buy or lease, you also need to think about the cost of heating and cooling the building and the cost of electricity and water.


Type of Building

You should think about the type of building that’s best suited for your company and about any businesses nearby. If you are a doctor, you might want to stick with a medical office complex that features different types of doctors. You can also choose between standalone buildings, mixed use buildings and even shopping malls. Always take the time to look at any neighboring buildings and businesses to see if those businesses will compete against you.


Layout and Feel

When you work with a commercial real estate agent, the agent will generally show you a number of different properties that might meet your needs. Take the time to get an idea about the feel and layout of the space and whether it will fully meet your needs. The square footage on the property listing may include bathrooms, storage rooms and other spaces that you don’t need, which will result in you paying more for things you won’t use. You need to make sure that the layout of the building works for your company and your workers.


General Location

The location of your commercial building is just as important as any other features the building might offer. Though you might save money leasing a retail shop in bad neighborhood, this may increase your insurance costs, leave your employees feeling uncomfortable and keep new shoppers away from your store. You generally want to choose a building in a good neighborhood that you can afford. Features like nearby parking, working lights on the streets and good sidewalks will help employees and shoppers feel more comfortable.


Potential for Growth

You shouldn’t rush right out and sign a lease for a 10,000 square foot building when you first start out, but no matter what size building you decide on, you should ensure that it has some potential for growth. What happens if you decide to expand your office or retail shop in the future? You might need more floor space for your shop, more office space for workers or a larger storage area/stock room. You might look for a building that allows you to purchase or lease the exact amount of space you need now and to obtain more space in the future. Make sure you consider all the important factors when buying or leasing a commercial building.

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