How to Buy/Lease Commercial Real Estate

So, you own a business. You sell products or services that you are passionate about. You love your employees, and you love being your own boss. But, what happens when business starts booming? When do you really need to move out of your home office/online store and into an official brick-and-mortar space? What if you find a new area where your industry is moving? The answer to all these questions: buy or lease a commercial retail space. Here are a few steps to help you find the right retail space for your business.

  1. Start taking notes now. When you are shopping in your local small businesses, take note of which features you love and which ones you hate. Does that shoe store have tons of storage? Do you need outdoor space for your items? Who do you want your neighbors to be?
  2. Talk about price. Chat with your business associates, financial advisor, etc. about what your business can afford. Usually, leasing cost is determined by dollar/square foot. Don’t forget to factor in other costs such as maintenance, property taxes, utilities, etc.
  3. Talk about the area in which you want to be located. Is it important that your business be close to your home? Do you want to be in a bustling downtown area, or do you require more space?
  4. Meet with a real estate agent. The right tenant representative will get to know your needs, represent you as you tour properties, and advocate on your behalf. Bluewater is proud to offer those services to you.
  5. Practice patience and perseverance. Your business is an important part of your life. You want to find it the right home, and so do we.

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