Commercial & Industrial Real Estate
The commercial and industrial real estate markets offer lots of variety. These markets are broken down into very specific subsets. They include retail, office, warehouse, industrial, flex and land/site.
Each subset is full of nuance and can be difficult for business owners to navigate without market experience. Whether you are an owner, looking to purchase, or a tenant of a commercial property, it is important to have an understanding of your space.
Considering the importance and complexity involved in the acquisition of commercial real estate, it is recommended that buyers find a competent commercial real estate agent.
“Why should I use a commercial agent?”
The most notable reason to use a commercial agent is to draw on their expertise. An experienced agent will be able to understand your business’ needs and provide a fair estimate of market rents in your area. Furthermore, an agent is hired to represent your best interest. Most people would not go to court without a lawyer. In the same sense, most people should not negotiate with an experienced landlord without representation.
“Can’t I use websites like Zillow or Loopnet to find available spaces and their rent rates?”
You can use the internet to get a basic understanding of your market. However, commercial spaces can be much more difficult to find that residential property. Commercial agents can rely on their network and resources to find properties that may not even be marketed.
“Will my agent review the lease terms and help me negotiate with the seller or landlord?”
Of course. It is one of their biggest responsibilities in the process. Agents are able to see the fine print of a lease that may be missed by the lessee. They will surely negotiate price and lease terms. They are also able to guide negotiations regarding build outs, tenant expenses, early lease termination, and more.
“How much does a commercial agent charge to represent me, and help me find my next space?”
Using an agent is free to the buyer. Just like in residential real estate, the seller or landlord pays a commission to the agent’s brokerage for bringing buyers to the listing. In almost every circumstance, it should not cost the buyer anything.
