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Commercial Space For Rent Westchester NY

Where To Start Searching For Commercial Property

Commercial Space For Rent Westchester NY

How easy is the search process when finding your next commercial real estate? Does a simple yet quality platform exist? Where can I seek professional help? These are a number of questions running through people´s head when searching for commercial real estate for sale in Westchester NY, and with the Rakow Group, help is on-hand. Read this brief yet informative guide and you will have your questions answered and your worries laid to rest.

Firstly you should clarify all the data you need. Below are some basics that you may have overlooked:

Location

This is very basic, however you would be surprised at how different the location may be today if you compared it to a few years ago.

Property Type

You should have in your mind the type of property you are after. Whether you are interested in office space or facilities with medical capacities. This should be clear in your mind so that you can define the solutions.

Price

An imperative factor to always consider. This is without doubt something you have to have crystal clear when searching.

Property History

It´s highly advisable to find out as much information about the properties history as possible. This can lead to huge savings both short term and long term. It will also give you peace of mind, as well as lower the chance of you feeling left red-faced. Here are some key questions to both ask and consider:

  • Who is the current owner?
  • When did they buy it?
  • How much did they buy it for?
  • Who owns the mortgage and when is it due?
  • How old is the building?
  • What is the total number square feet? How is it broken down between vacant and occupied space?
  • What are the current rental rates? How has this changed over time?

These questions are just a few amongst many. However these are probably the most appropriate and will give you a better understanding of the property that interests you.

Look Ahead

You should always be pro-active in finding out the sources of the data you´re after. The question you should always ask yourself is, “how true and accurate is the data?”

The data that you will be searching for has a third party base. For example, the tax records are the tax records. One cannot edit these. They will give you some clear financial data about the property in question. The same can be said about the historical sale information. However, the dates, rates and competition concerning some other topics definitely require some investor caution.

You should tread carefully and adopt a level of caution as the data might not be highly accurate.

Should you be interested in searching for commercial space for rent in Westchester NY, get in touch with the Rakow Group. A highly professional organization that put their customers at the forefront of the commercial property world. The tools and information you can get from Rakow Group will be invaluable for your commercial real estate investment.

Give them a call today on (914) 422-0100.

Commercial Space For Rent Westchester NY

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3 Mistakes to Avoid With Commercial Property Investment

When it comes to any type of property investment there is a lot of room for error – especially when buying commercial property. It can be a tricky and naïve sector, which can catch even the most experienced of investors out. As with life, the simple mistakes are the most common and can often be sourced to a lack of due diligence before the purchase, instead of the actual running or maintenance of the property. Discover how the Rakow Group can help you find the perfect commercial real estate for sale in Westchester NY, suited to your business.

Here are 3 of the most common mistakes to avoid when deciding to invest in commercial property:

Wrong Decisions on Property Choice

This is probably the most common mistake made involving commercial property. A failure to find the property that suits your financial goals as well as your appetite for risk.

At the same time of being a risky and complex market, the opportunity for success is huge. Not to mention the chance of earning greater returns is increased.

The three most common choices for buying a commercial property are income, capital growth and strategic purchase. These three common factors are taking into consideration that you are buying the property for owner-occupation or to facilitate an expansion on site.

Whether you are buying the property for the above reasons, or for any other reason, it is imperative to have your goals clear. You should ensure that you buy an asset that is best suited to you and your business.

The Wrong Location

Location is the key factor that drives demand, when talking about commercial property. This makes it imperative to find the right location and it should always be at the forefront of factors when deciding whether to purchase or not.

You should not fall for tricks of the trade such as flashy fit-outs or impressive improvements, all made short-term. Features such as these disguise a properties real value as well as the poor capital growth involved with substandard locations.

A top tip to always note is that in property investment it´s the land that is valuable. The land will nearly always be appreciating in value, whereas the physical buildings and improvements actually depreciate over time.

Letting Your Emotions Get The Better Of You

There´s a real variety of distractions when deciding to buy commercial property. One of the biggest and most influential distractions is your own views and emotions.

Your emotions can be misleading as the chances are they´re not entirely accurate of what you really need.

When buying a commercial property you should base your decision on a property´s location, historical performance, and yield. You shouldn´t decide to buy a property just because you consider it to be affordable or because “you like it”. Ensure that the property you choose is the correct investment for you. It should also meet your long-term objectives.

If you follow the tips above and don´t fall into the common traps, you will manage your risk and improve your search results both short-term and long-term.

Should you be interested in commercial real estate for sale in Westchester NY, get in touch with Rakow Group. As industry experts in the commercial property sector, they are on hand to offer you invaluable advice. They can also assist you when searching for commercial real estate for sale in Westchester NY, should you choose renting to be a better option for you and your business.

Give them a call today on (914) 422-0100.

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How To Pick A Real Estate Investment Manager You Can Count On

If you’ve been sitting on some capital for a little while, now would be a good time to invest. And in case you’re pondering where would be a smart place to put your money, real estate has your name on it. With the right resources and guidance from a commercial properties for sale Westchester NY company like Rakow Group, you can count on building a plan that is sure to result in a return on investment (ROI) that will be unquestionably worth your while. To help get the ball rolling, here are just a few tips, free of charge, on how to choose the right investment managers when shopping for commercial real estate.

1. Calculate Investment Managers’ NOIs

You should know the people with whom you plan to discuss potential investments. More importantly, you should inform yourself on how they conduct business. A good starting point is figuring out an individual’s past net operating income (NOI). Figuring out how his or her NOI fluctuates upon adding value and capitalizing on investment opportunities will give you a good idea of whom you’re dealing with.

2. Factor In The State Of The Market When Checking Someone’s Track Record

A background check can go a long way in the real estate world. It will serve you well to know a thing or two about the careers of the managers with whom you plan to collaborate. That entails more than just checking the numbers of past deals. You should also inform yourself on the circumstances of the deals. Sometimes the market is just strong, while other times it’s weak. The market climate at the time of investment will speak toward an individual’s skill level and how reliable he or she could be when working with you.

3. Find Out How Prospective Managers Handle Unforeseen Events

It’s within your rights to ask about previous deals and/or cycles. More specifically, you should ask about deals that didn’t go according to plan. If you’re going to allow someone to manage your money, you should know how he or she is going to react to curveballs. It’s in these kinds of circumstances that an expert comes in handy. So you might as well work with someone who you can count on to deliver.

4. Consider Their Incentives And Vested Interests

If you really want someone to give you their all, then you must ensure that it is within his or her best interest as well for you to come out on top. If there are no consequences for your managers in the event that you don’t turn a marginable profit then you cannot expect this person to give you top quality work.

A great way to evade the risk of selecting a less than stellar manager is to go through a reputable company like the Rakow Group. Our commercial properties for sale Westchester NY services are second to none. To learn more about what we can do for you, give our Westchester office a call at 914-422-0100 Ext 10.

Commercial Properties For Sale Westchester NY

 

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Industry Expert Tips For Finding Your Business´s Perfect Property

When searching for your business´ new headquarters you will be confronted with many options. It´s not too dissimilar from your first home – you will want everything to be perfect. With the Rakow Group, you will be assisted with a friendly yet professional team, who will be on-hand to provide you with everything you need when searching for commercial real estate for sale in Westchester NY.

There are of course a number of questions you need to ask yourself before the search begins. What features should I look for? What is my budget? Which questions should I ask the owners? These are just a few tips when searching for your next property.

The Rakow Group has leased and sold hundreds of properties for a number of clients and below are their top tips when searching for your new office.

Ensure You Understand Whether You Can Afford to Buy

The first decision you will have to make, is whether you should lease or buy. This decision is entirely down to your budget as well as your long-term goals. You will obviously lose a lot of capital from your account in the short-term, as a purchase will eat into your working capital quite substantially.

A solution that will be available for some people, is to buy a property that offers additional vacant space. With this extra space you will be able to lease to other businesses in order to create a rental income stream. This will benefit both yourself as well as the other business as you will earn additional money per month, and they save money by renting only the space they require. You will also benefit because you are in control. You get to utilize the space you need for your business and you will always have the option of taking back the space, should your business grow or your tenants lease expire.

Search For Features You´d Want In Your Home

When searching for a commercial property – buying or leasing – you should always maintain high expectations and look for features you would want in your own home.

One crucial factor to consider is commercial car parking. It is not advisory to look for a property that is not close to good transport links, such as train stations, metro stations etc. The property in question should always have some off-street parking for yourself as well as your employees.

Here a few other features to consider when searching for your property:

  • The potential of expansion in the future – this is to ensure you won´t have to move should your business expand.
  • Close to major roads that will increase footfall.
  • A light and airy space, which remains fresh in the summer. A warm and well-insulated space which stays comfortable during the winter months.
  • A variety of services nearby e.g. cafes, restaurants, shops etc.
  • Close enough for your workforce to arrive on time – accessibility is key.

There will no doubt be a number of questions running through your head when searching for the perfect place. Here is Rakow Group´s top questions to ask your selling or leasing agent:

  • “Is there an option to buy more car parking spaces?”
  • “When was the last time the air-con/heating was serviced?”
  • “How long is the leasing contract?”
  • “How long is the Weighted Average Lease Expiry?”
  • “Can you please tell me about previous owners/tenants?”

There are of course many, many other questions to consider asking before making your decision. However, follow these tips and Rakow Group is sure you will find a desirable property that will suits you and your business’s needs. Should you be looking for commercial property for lease in Westchester NY, get in touch with the Rakow Group and find out how they can help you and your search.

Give them a call today on (914) 422-0100.

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Commercial Space Leasing in Westchester NY

Is The Density Boom in U.S. Cities Affecting Commercial Space Leasing?

Big cities across the United States of America are still the epicenter of cultural connectivity and global trade, which means these cities not only offer more job opportunities but also higher competitive standards as population density is higher. The combination of these are key for a healthy commercial space real estate activity as well as a lot of commercial space leasing.

Although the suburbs are still attractive to many, the steady growth of urban areas is way faster than ever, thanks to the people who choose these urban centers as they offer a live-work-play lifestyle that many crave. What does this mean for the ´commercial space leasing´market?

Key Economic Factors

Given that cities – whether they’re big or small — offer more jobs, it makes sense that job office sectors will grow as well. Two-fifths of the new jobs are office work-related. This raise on demand and the limited supply are causing a rise on the price of rent.

Restoring the balance in the market after “The Great Recession” has been difficult. Initially, landlords were forced to offer office spaces below the market lease standard and to offer massive concessions in order to keep tenants interested.

However, the growth of many different industries and the decline of unemployment have turned the market around. The rise of demand for office space is not only an indicator of more job opportunities but also an indicator of the commercial real estate market growing solidly.

Who Uses Commercial Office Space?

All sorts of professional services, legal and financial firms have been located in urban offices throughout history, and especially small businesses usually turn to leasing when it comes to setting up an office. And even though most modern firms go for modern, cost-efficient designs without necessarily embracing the open workstation concept.

The majority of today’s workforce is made up by millennials, and since this demographic is precisely the one choosing urban areas to live and work, the demand for renting commercial space is higher than ever in the bigger cities, meaning this is a great opportunity to those in the commercial space leasing market to provide for the workforce of the country.

The New Commercial Space

The design focus of today’s offices is high-quality and well-designed office space that can provide employees with all the tools they might need, from conference rooms to leisure space. Office space requirements are more dynamic every day, and it’s important that each office is or can be tailored to the culture of the company occupying it.

For brokers aiming to conquer the commercial space being savvy and recognizing the advantages that bring to work with retail companies, HR experts, and top designers for creating the perfect office space that will attract and retain more tenants.

If you’re interested in commercial space leasing in Westchester, NY or commercial real estate for sale in Westchester, NY, contact one of our agents at The Rakow Group today.

Call at 914-422-0100.

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Commercial Real Estate trends to watch in 2017

3 Commercial Real Estate Market Trends For 2017

2016 was a great year for many real estate & commercial real estate brokers. The industry seems to have started recovering and many agents are gaining momentum from that. Predicting the future of commercial real estate may not be an easy task, but there are a few market trends that can help brokers plan ahead for the year to come, hoping this will lead to a successful 2017.

Bigger deals = More networking

Brokers looking to close big deals during the upcoming year need to be aware that establishing themselves as leaders of the industry at the top of their game is key. Building up their reputation and demonstrating their skills when it comes to cleverly handling deals and properly managing their relationships will make the difference when it comes to handling larger transactions.

Big deals usually imply there are more people involved, and the better your networking and your relationship management abilities, the bigger your chances of successfully closing a large deal in the market. Those who want to pursue the deal of the year need to start building and solidifying a network of experts and professionals that combined with their own knowledge and experience in the industry will lead to the successful closure of more substantial deals.

Trusting your gut without overlooking the data

Instinct plays a massive role in the commercial real estate industry. Developing such a skill is imperative but it can also be difficult to sharpen. Whether you can or cannot rely on your gut to spot opportunities, effectively manage transactions and successfully close a deal, you can always keep the industry data into account. In fact, it’s not just that you can, you should.

Having a hunch is not enough to make a business decision. Actually, decisions made on a whim end up being something to regret more often than not, at least when it comes to business.

Gathering data, analyzing it and developing strategies that contribute to making informed decisions is the best way to measure and guarantee that your instincts are reliable and that you’re capable of turning a “hunch” into actual profit.

Assessing off-market opportunities

Technology and social media are powerful tools for the real estate market, nowadays. From tools that help you predict who will sell their home and when to using social media to spot prospect buyers and sellers, being one step ahead has never been easier. However, most agents waste precious resources going after prospective buyers and miss the chance of landing juicy deals from prospective sellers.

Using your resources to analyze and predict who will sell next and when; you can make sure you place the right amount of effort in the right places to always add the best value to your clients.

Whether you’re looking for commercial space for rent in Westchester, NY or commercial properties for lease in Westchester, NY, you can contact one of our agents at The Rakow Group by calling at 914-422-0100.

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commercial property for lease westchester ny

What Are the Reasons for REIT Investment?

Real Estate Investment Trusts are attractive to investors for various reasons. REITs have high levels of growing current income. They also have the opportunity for long-term growth. These are the basic characteristics of commercial real estate. Commercial property for lease Westchester NY services has experts to help you decide if you should invest in REITs.

Who invests in REITs?

REITs appeal to investors of all ages. Today, many different types of investors use REITs to help achieve investment goals. These goals can range from dividends, liquidity, diversification, transparency, and performance. It’s possible to invest in REITs directly, or through mutual funds. Other types of REIT buyers include pension funds, endowments, foundations, exchange traded funds, and bank trust departments.

What do REITs offer investors?

The most common factors that REITs offer investors are:
• High dividend yield: produce a continuous flow of income through various market conditions
• Income and long-term growth: provide competitive rates of return; these complement the returns from other stocks and bonds
• Professional management: REIT managers have substantial and professional experience in real estate
• Liquidity: REIT shares that are publicly traded are converted into cash since they get traded on major stock exchanges

Why invest in REITs?

You can count on REITs being total return investments. If you invest long-term, total returns of REIT stocks will likely be slightly less than returns of higher risk and high-growth stocks. But, they’ll be somewhat more than the returns of lower risk bonds. Furthermore, REITs are legally required to distribute at least 90% of their taxable income to their shareholders. This means that REITs tend to be part of companies that are paying the highest dividends. Rental rates have a tendency to rise during inflation periods. This means that REIT dividends are often protected from the long-term damaging effect or rising prices.

Types of REITs

The field of Real Estate Investment Trusts has a diverse profile. REITs are classified as either equity or mortgage. Equity REITs generally operate and own income-producing real estate. A major difference between Equity REITs and other real estate companies is that a REIT needs to obtain and develop its properties mainly to operate them as part of its own portfolio. This needs to be done rather than reselling them once they’re already developed. Mortgage REITs, however, directly lend money to real estate owners and operators. They also extend credit indirectly through gaining loans or mortgage-backed securities. Mortgage REITs generally extend credit solely on already-existing properties. Moreover, many mortgage REITs manage their credit risks and interest rate using securitized mortgage investments and derivative strategies.

Commercial property for lease Westchester NY

Real Estate Investment Trusts own and manage many different types of property including shopping centers, health care centers, office buildings, hotels, and more. If you’re looking to buy REITs, the experienced team at the Rakow Group can guide you through every step of the way. Contact commercial property for lease Westchester NY services for any questions you have related to commercial real estate and REITs. Call us at the Rakow Group today at (914) 422-0100.

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To Lease Or To Buy Westchester NY Commercial Space?

The biggest expenditure you’ll probably have while running a company will be in real estate. So it’s important that you do your research and utilize all available resources so as to ensure you make an informed decision. That refers not only to the office itself, but also how you plan to pay for it. That is, whether you want to buy it or lease it. Unfortunately, the answer to this question is not as simple one may think. There are too many variables at stake. Nevertheless, with such an expensive undertaking, it’s always a good idea to read up on current events, and more importantly, to surround yourself with folks who can show your ropes. That’s where Rakow Group, a lease commercial property Westchester NY company with over thirty years of experience comes into play.

Volatility Usually Equals Lease Instead Of Buy

A general rule of thumb when deciding whether to lease or buy commercial property is to first have a look at the state of the economy. How has it been leading up to this point, how is it now, and most importantly, how do you, and the experts of his industry, project it being in the years to come? That refers not only to the local, or even the national economy, but the global economy. Remember that buying real estate should be seen as an investment. Similarly to home real estate, the greatest advantage to making a purchase is that property’s value will grow. That is unless the industry, and more broadly the economy as a whole is showing signs of volatility.

The Markets Looking Pretty Volatile

Well it just happens that volatility is precisely what we’re getting at this current juncture. We are going to be seeing a lot of big changes in the way things are done this year. And that will most certainly reflect on the commercial real estate (CRE) industry. We can’t know for sure how placing tariffs on companies who send jobs overseas will affect the economy. But it’s in this unpredictability that we get less investment in all industries, including real estate. In a volatile market, growth is uncertain, which in most cases implies that renting is the better option. The worst case scenario, which is that the value either remains the same or drops, meaning you end up losing money instead of gaining, is beginning to look more likely.

Minimize Risk By The Guidance Of The Pros

Of course, let us not forget, however, accurately predicting whether you’ll turn a profit from purchasing commercial real estate as as much a science as it is an art. You can crunch all the numbers you like, but at the end of the day, you’ll have to come to terms with the fact that you are making a prediction. And that there’s no real way to know how the future will play out. That’s why the best thing that you can do is to speak to the people who the industry best. The professionals. Rakow Group has over 30 years of experience delivering the best deals to clients. Learn more about our lease commercial property Westchester NY services by calling our office at (914) 422-0100.

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Startups And Changing Demographics: CRE In 2017

Commercial Property For Lease Westchester NY

The trends of tomorrow are here and we are now witnessing how they’ll reshape American society as we know it. The commercial real estate (CRE) market, along with most industries of the 21st century in America, is in the midst of a transitionary phase. We will see how this transition plays out in the years to come. Here are a few things you can expect to see more of in the CRE industry during the upcoming quarter. If this topic interests you and you’d like to learn more, you can contact the 30 years strong commercial property for lease Westchester NY company Rakow Group for more information.

Technology

To make a long story short, information is simply more transparent and available. That’s no secret. But it’s worth noting the degree to which IT precipitated into virtually every single industry on the planet. Commercial and home real estate is no exception. Optimized CRE data and listings are already at the fingertips of the most reliable real estate brokers.

They will soon also be accessible to the customers. This is likely to lead to an increase in customers leasing property online. The Internet will make commercial real estate shopping and leasing more cost effective. That’s because it allows players to perform transactions in real time. As customers empower themselves with greater access to data, brokers will have to innovate new services to remain afloat. In other words, real estate companies will likely invest more in IT and look to collaborate with startups to a much greater degree.

Demographic Shifts

Speaking of startups, the increase in small innovative companies in select urban regions of the country, namely San Francisco and New York, has led to mass migrations of ambitious young talents. Startups tend to employ millennials. But let’s not forget that it’s also mostly millennials who run the companies.

Despite some concerns over the upcoming shift in the political climate, pundits are saying that politics will not prevent the startup industry to pack up and leave. At least not immediately. In the meantime, what you can expect are more millennials opening up more offices in technologically savvy parts of the US.

Meanwhile, baby boomers are slowly but surely reaching retirement age. Albeit, with the greatest healthcare system in the world, people stay healthy much longer and retire later. Nevertheless, more and more of those progressive millennial workers’ parents have got their eyes on cocktails in Hawaii instead of on renewing the leases.

What Do These Transitions Mean?: Time Will Tell

How these transitions will influence the real estate market we have yet to see in its entirety. In any case, it’s safe to say that most millennials have different values than those of their parents. They also have different preferences, and this will likely have an impact on the trajectory and nature of the CRE market. The best thing that you can do is to keep your eye on the prize and surround yourself with people know what they’re talking about. Rakow Group has all of the expertise you’ll need not to get scammed by an industry in flux. Find out about how a commercial property for lease Westchester NY company like Rakow can help you and your company flourish by calling (914) 422-0100 today.

Commercial Property For Lease Westchester NY

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The Differences Between Buying vs. Leasing Commercial Real Estate

Considering the pros and cons of both buying and leasing commercial real estate is crucial. It can be tricky to choose for entrepreneurs who are making decisions for their place of business. Since there are advantages and disadvantages to both options, you need thorough analysis and planning before making the decision. Commercial space for rent Westchester NY services has a professional team to help you make the best decision for your business.

Questions to Consider

Generally speaking, staying in the same business location for 7 or more years means that buying will be far less expensive than leasing. But, when the occupancy drops from 15 years to 7 years, then the costs are about equal. It’s important to know that buying will cost you quite a bit more upfront than leasing. You have to ask yourself if you can afford the down payment for a mortgage. And, even if you can afford it, consider if that money could be better spent investing it in growing your business. Do you think it’s possible you may outgrow your space and will have to eventually move? Will you want to handle the additional hassle of maintaining a property?

Opportunity costs

The down payment for a commercial mortgage typically ranges from 10% to 30%. There’s opportunity in utilizing this money in the building itself instead of investing it in your business. When buying commercial real estate, the initial costs will include closing costs and due diligence fees. These are all the legal-related costs, including attorney fees, inspection fees, permit fees, and attorney fees. The closing costs include processing fees, bank fees, appraisal fees, etc. Their amounts can vary depending on location, bank, and property value.

When you should buy

Buying commercial real estate is ideal when your business is generating plentiful cash flow and stability. If you have real estate experience or you’re willing to hire a professional to manage your property, then buying is for you. You can’t learn real estate overnight; it’s something you need to be savvy in, first. You should also consider buying if you’re in an industry with specific technology or security needs.

When you should lease

It makes more sense to lease if you’re running a start-up business. Start-ups are often unable to commit a lot of capital to a building. So, the likely outcome is to go for a leasing option. If you lease instead of buy, you can move to new premises with ease because you’re not locked into a long mortgage.

Whether you’re deciding to lease or buy, considering the advantages and disadvantages of each option will help you make the most informed decision. With the help of the Rakow Group, you’ll find commercial space for rent in Westchester NY, and commercial space to buy. Whatever your needs, our professional and experienced team will meet and exceed them. Call one of our agents today at (914) 422-0100.

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