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office space real estate

How to Find the Perfect Office Space for Your Startup

 Startup companies are unique businesses with tons of potential. A startup is not a small business, it’s a young company trying to meet a market need by offering a legitimate business model around a product, process, or service. Startups have unique needs, particularly when it comes to finding office space real estate. At times, a simple office plan to house a few employees will suffice. However, planning for lots of growth that comes with success should not be overlooked. Rakow Group can help you find the office space real estate perfectly suited for your startup. We have prepared a few tips below on how to find the perfect office space for your startup.

Think About Subleasing an Office

Sometimes, startups are making some revenue, but not quite enough to afford leasing an entire office. The banks can be difficult to convince, particularly if your startup is not yet profitable. A good idea for companies in this position is to sublease an office. If your startup is expected to remain in the growth phase for a while, subleasing is a great option.

Consider the Amount of Space Required

It’s very important to choose the right amount of space for your business, especially when you are in the startup phase. You don’t want to pay money for extra space that goes unused. Typically, startups will consist of a small group of employees. A classic rule of thumb is to go with 1000 square feet of office space real estate per 5 employees. With that assumption, you should be able to comfortably accommodate all of your employees.

Don’t Be Afraid to Negotiate

There is no perfect formula or secret sauce to finding the perfect office space real estate for a startup. Keep that in mind when you are going into negotiations for commercial property for rent. Everything can be negotiated, even the monthly rent. Always try to get the rent down at least 5 percent lower. You never know what kind of a discount you might get to make the deal happen.

Work with a Trusted Agent

As a startup, you can’t afford to make mistakes with your office space real estate. It’s important to work with a trusted real estate agent that can provide you with advice and guidance every step of the way. If you are seeking commercial property for rent, working with a professional broker at Rakow Group is always a great call.

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commercial property for rent

3 Expert Office Space Planning Tips

When you are looking for commercial property for rent or to purchase, there are a few things to keep in mind that can be extremely helpful. Effective use of the office space is key. Making the most of floor plans can keep your business profitable and your balance sheet healthy. Neglecting the planning of an office space can also cost you efficiency and lots of money.

Rakow Group can help clients find the ideal commercial property for rent or for sale, and we assist them in creating an office space that will allow their business to flourish. We have prepared the following list of 3 expert office space planning tips in order to help you take your next office space real estate to another level.

  1. Decide on an Open or Closed Floor Plan

This is a critical decision during the initial steps of choosing your office space real estate. Consider what kind of office space you want for your loyal employees. Do you want an open office plan that offers easy modification, collaboration between employees, and reduced costs? Or perhaps a closed space that can provide more privacy, an environment conducive to concentration, and limited noise for your employees? Asking yourself these types of questions is a great idea prior to deciding on any office space real estate.

  1. Don’t Neglect the Lighting

When you think about it, you and your employees will be spending a huge amount of time in the office space you are designing. That’s why lighting is so important within the office. The proper lighting can create a comfortable environment conducive to productivity and good moods. A dark space can be depressing and can have a negative impact on health, mood, and overall well-being. Natural light is always important. Keep lighting in mind during your office space real estate planning and your employees will be much happier.

  1. Plan for Growth

Every business is striving for success. Sometimes, success means growing the number of employees in your business. Expert tip number three on planning the perfect office space is to plan for growth. Think about how many employees you will have in 6 months or a year. More people means more traffic within the common areas of the office. It means that meeting rooms and private offices will be occupied more often. You don’t want to find yourself in an office space that feels cramped and inadequate for the number of hard-working employees you have.

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commercial property for sale

Qualities to Look for in a Commercial Real Estate Broker

Finding the right commercial real estate broker can be a real challenge, especially for those unfamiliar with the business. You want someone that you can trust to help you lease, buy or sell the best quality property while not breaking the bank. Choosing the right commercial real estate broker can be the beginning of a fruitful relationship that lasts for many years. However, choosing the wrong broker can have devastating impacts on your business and bottom line that can last a lifetime. If you are looking for commercial property for rent, you can’t go wrong engaging a broker from Rakow Group.

We have prepared the list below that details the important qualities to look for in a commercial real estate broker.

  1. Specialized Training or Expertise

Commercial real estate is a term that refers to a broad assortment of property types and variables. Different locations can have lots of different implications, and you definitely want a broker that is an expert in the area and property type you are seeking. It shouldn’t cost you any more to find a broker that is a specialist in the particular property type you are looking for. Take the time to find someone who has experience or expertise in the specific property type and location you are looking for commercial real estate in and reap the rewards.

  1. Commercial Transaction Experience

You want to make sure that you are working with a broker who specifically has experience dealing with commercial transactions prior to making any commitments. The commercial real estate world is very different from the residential real estate world. Often times, residential real estate brokers will branch out into the commercial world to make a little extra money. We suggest avoiding these types of brokers and going for someone who primarily deals with commercial real estate transactions.

  1. Commercial Real Estate Designed Marketing Plan

Another important thing to consider prior to hiring a commercial real estate broker is their marketing plan. Does this broker have access to the various commercial property databases you need in order to find you the best properties available? How many websites will your property be published on if you are trying to lease or sell it? These questions are essential, especially if you are looking for commercial property for sale. Take the time to find a broker who recognizes the importance of a solid marketing plan, particularly if you are relying on them to handle your commercial property for sale.

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commercial property for sale

How to List Commercial Property for Sale

Listing commercial property for sale is a task that requires a lot of thought, planning, and strategy. If you don’t put in the necessary work ahead of time, you might be in for a problem-filled sales process. It’s worth doing things right to get the best value for your commercial property for sale while minimizing potential headaches.

Commercial property can refer to office space, hotels, retail locations, apartment buildings, shopping centers, and much more. This means that every listing has specific nuances that the seller must adhere to. Rakow Group has over 30 years of experience in helping clients list or find commercial property for sale. Give us a call today if you’d like some professional expertise in listing your commercial property for sale.

We have prepared the list below in order to provide a brief overview of the commercial property listing process. We hope it provides some valuable insight into listing commercial property.

  1. Prepare the Property

Before you list any commercial property for sale, it’s highly recommended that you take the time to clean up the exterior and interior of the site. Make sure you remove any trash or leftover belongings from prior tenants. Put the time in to take care of minor repairs. Anything you can do to make the property look its best is worth doing.

  1. Due Diligence Time

Due diligence is the process of conducting extensive research and gathering information about comparable properties prior to listing the commercial property for sale. You can take a look at the price per square foot, potential uses for the property based on zoning, and any revenue potential. This step is absolutely crucial. Remember, Rakow Group can always help out with any important steps in the listing process if you need assistance.

  1. List Yourself or Use a Broker

The last step is to decide whether or not you want to move forward and list the property yourself or hire a broker to help you list the commercial property for sale. Hiring a broker is usually a fantastic idea because they handle all of the hard work. Listing and showing the property is usually taken care of by the broker, as is negotiating and due diligence. At Rakow Group, we know how and where to promote your property to give it the best exposure possible. We know how to price the property to make sure it sells for the right amount and as quickly as possible. Last, but not least, we are professionals and we know how to get the job done, in the right way and in the first time, assuring you that mistakes won’t be made, jeopardizing your deal.

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office space real estate

Tips for Success in Commercial Real Estate

Have you ever wondered what it takes to become a successful commercial real estate broker? What qualities and tips help commercial real estate brokers take things to the next level in their careers? Then this article is for you!

Whether you are looking for office space real estate or industrial space for rent, commercial real estate brokers are extremely important. We hope this article provides some valuable insight into the brokers that help make your commercial real estate dreams become a reality.

Rakow Group would love the opportunity to help you find commercial property for rent or any other of your commercial real estate needs! All of our brokers have the characteristics mentioned below and more.

  1. Convey Core Values

Trustworthiness. Determination. Ingenuity. These are all traits that most companies would love for their employees to convey. To be successful in commercial real estate, a broker needs to clearly reflect their company’s core values. All of Rakow’s brokers are great advocates of the values that the company stands by, like clear communication, customer advocacy, and building trust.

  1. Strong Work Ethic

Finding the right commercial property for sale requires a very strong work ethic. Successful real estate brokers work hard, there’s no doubt about it. Sometimes, in order to find the perfect property for their clients, brokers will have to sort through thousands of properties. Without a rock solid work ethic, a broker can easily burn out or fall short of their goals. This is due to the constantly changing and evolving commercial real estate market, which requires brokers to stay on top of the latest trends to be successful.

  1. Long-Term Perspective

A good commercial real estate broker isn’t just focused on a quick sale with a short-term mentality. The best brokers know the importance of keeping an eye on the long-term goals of their clients. Finding office space real estate that will meet the needs of a client for decades to come is certainly a trait that Rakow Group’s brokers have.

  1. Passion is Key

If you are working in commercial real estate, you must have a passion for the industry and for helping others. Without the fire to succeed, commercial real estate brokers will never achieve their full potential. A good broker is passionate about their field and happy to put in long hours to make sure their clients are happy. It’s easy to tell when a broker isn’t passionate about what they are doing. All of Rakow’s brokers are extremely passionate and would love the opportunity to provide a world-class commercial real estate experience for you.

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industrial space for rent

Taking Advantage of Industrial Office Flex-Space

What if you had the opportunity to transform an industrial office space into something that meets seemingly every necessary property qualification for your business? Commercial real estate is constantly evolving and changing, creating new opportunities and chances to make money for those willing to pursue renting or buying property. An intriguing new trend has come up surrounding industrial space for rent known as industrial office flex-space.

An industrial office flex-space is essentially a space found in industrial and commercial office parks that offers customization and flexibility for tenants and owners. It is the chameleon of the commercial property world that can adapt and change to meet the needs of its occupants. We have prepared the following article to help you realize the many advantages of industrial office flex-space.

Industrial office flex-space can be a variety of things. It can include warehouses, traditional business structures, light industrial buildings, and more. Traditionally, industrial office flex-space is a single-story industrial building that is at least twenty-five percent office space. Finding this specific type of industrial space for lease is a breeze with a professional firm like Rakow Group!

Technology companies usually find a lot of value with industrial office flex-spaces. The space can be inexpensively purchased or leased and is extremely versatile. It’s a great option for tech companies because they usually start small but also have the potential to grow extremely quickly. This is actually a problem that lots of startup companies face, but industrial office flex-space provides the solution! It allows them to “grow into”their office space and also provides an innovative and modern feel that is attractive for millennial workers.

Perhaps the most intriguing advantage to pursuing an industrial office flex space is the sheer amount of options the space can provide. If you need a traditional office space, you can use it as such. If you have a business that requires a retail showroom, a distribution area, or a room for a sales team, the space can be customized to meet those needs. Flexibility is always a huge advantage.

Finding the ideal industrial space for rent can be tricky sometimes. The Rakow Group would love to help you find the perfect space for your business needs. We can also assist with finding spaces that allow you to take advantage of the flex-office space concept. Give us a call today and we can answer any questions you might have about office space real estate and beyond!

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commercial property for sale

Top 3 Ways to Maximize Warehouse Space

Warehouse space can be expensive for business owners that are not adequately prepared to take on the challenges that come with this property type. It’s extremely important to utilize the space to find the most value and functionality of a given property. As warehouse space continues to rise in value and help businesses reach the growing demand for physical products from customers, the need for a good broker to help you find commercial property for sale has never been more essential.

Finding the right industrial office space can be tough, but with experts like the Rakow Group by your side, you will definitely find the right place. We’ve prepared the list below detailing the top 3 ways to maximize warehouse space in hopes that it helps you save some money and get the most out of your own warehouse space.

  1. Think About the Future

Before you make any big decisions about commercial property for sale like a warehouse, you need to ponder the future of your business and the potential need you may have for storing physical products. Use warehouse space strategically in a way that allows you to store the maximum number of goods. If you are anticipating lots of growth for your company and the need for more product storage, keep that in mind as you decide how to utilize your warehouse space.

  1. Stay Organized

Mountains of boxes stacked up for what seems like miles. Lots of warehouses end up looking this way, and this lack of organization is not helping the business owner or the workers responsible for finding products. Stay organized and ensure that you have developed a storage system that allows for things to work smoothly logistically.

  1. Look Up

Often times, industrial space for rent has extremely high ceilings. This is perfect for storing large amounts of boxes or products. Take advantage of the height that your warehouse space provides to really maximize the warehouse space you are renting or have purchased. On the other hand, if you are not taking advantage of those ceiling heights, remember: you are going to have to keep that space heated and cooled so if you don’t need the extra height, this kind of space is probably not right for you! You also need to keep health and safety codes in mind, you don’t want to receive any surprise fines.

Warehouse space is always an essential property type for business owners around the world. Rakow Group can help you find great commercial property for sale and has over 30 years of experience in the commercial real estate industry. Remember, the three tips mentioned above can help you maximize your warehouse space and get the best return out of any money spent towards commercial property.

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office space real estate

5 Hot Commercial Property Markets in 2018

Every year brings new changes in the commercial real estate marketplace. If a market was hot last year, it might have lost its luster and be overbought the next. Staying on top of the latest trends in the commercial property for sale marketplace is key to finding good deals and creating big returns.

Finding the perfect office space real estate, in particular, requires due diligence, skill, and creativity. The Rakow Group has decades in the commercial real estate market and can help with any of your commercial real estate needs. We have prepared a list of the top commercial property markets that can be found in 2018 below to help you stay on top of the market this year.

  1. San Francisco, CA

San Francisco is one of the most sought after places to live in the entire USA and certainly is a hot market for commercial real estate as well. Silicon Valley is packed with wealthy venture capitalists and technology companies that are all willing to pay a pretty penny for nice commercial office space. There will certainly continue to be great commercial spaces to be found in San Francisco in 2018 and beyond.

  1. Atlanta, GA

Atlanta is one of the quickest growing markets in the entire United States and is a great place to look for commercial property for sale in 2018. Job opportunities are growing and there are thousands of students graduating each year from universities like Emory, Georgia Tech, and the University of Georgia. Additionally, Atlanta is home to several powerhouse industries like technology, IT, film, and financial services.

  1. Austin, TX

Labor demand is extremely strong in Austin and the office market had an average vacancy of 8.3% in 2017. Both great signs for a hot commercial property market. This city has had one of the strongest economies over the past decade and continues to see growth in companies and the need for quality office space. The technology industry makes up a large portion of the economy in Austin, which means it could see continued growth in startup companies needing space.

  1. Westchester County, NY

This location is the second-most populated county in mainland New York, which means there are plenty of hot real estate deals to be found. It’s a great place to do business and also has the second highest income in New York by per capita. You can’t go wrong looking for commercial property for sale or rent in lovely Westchester County.

  1. Fairfield County, CT

Another affluent and densely populated place to check out commercial real estate in 2018 is Fairfield County, CT. This area includes some of the wealthiest communities in the entire country and is home to hundreds of successful businesses. Office space real estate here is in high demand, and there are tons of great investment opportunities. Keep an eye on the commercial real estate market in Fairfield County, CT during 2018 and beyond!

If you are seeking office space real estate or commercial property for sale, you can’t go wrong with any of the three options mentioned above. These cities are seeing exponential growth and can provide some great opportunities for savvy investors. Also, remember that Rakow Group can help you out with all of your commercial property needs!

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Feeding Westchester to Honor Rick Rakow

Rick Rakow, who has dedicated nearly 20 years of service to feeding the more than 200,000 residents in Westchester County who are hungry, will be honored by Feeding Westchester, the county’s leading hunger-relief organization, on April 13th at Tappan Hill Mansion in Tarrytown, NY. The organization will also be celebrating its 30th anniversary at the event.

“We are thrilled to honor Rick this year at our 30th Anniversary Gala. He has been a longtime supporter of Feeding Westchester and we look forward to celebrating his continued dedication to our organization and to the entire Westchester community,” said Leslie Gordon, CEO of Feeding Westchester, formerly known as the Food Bank for Westchester. “Rick has served on our Board of Directors since 2000 and we’re honored to call him our dear friend.”

“It is very humbling to be recognized by this organization which obviously means so very much to me,” said Rakow. “No one should ever experience hunger, much less in a county as affluent as Westchester. None of this could happen without the hard work of our incredible staff and the nearly 30,000 hours provided by our volunteers, without the generosity of our donors and the important work and generosity of our great Board of Directors and our more than 300 community food programs throughout Westchester County.”

There is still time to support Feeding Westchester’s Spring Gala. Donations in honor of Rick Rakow can be made by visiting feedingwestchester.org/donate or by calling Tamar Jacobson, Senior Manager of Events and Corporate Engagement at 914-909-9612.

Rick Rakow is the President of Rakow Commercial Realty Group, Inc. based in White Plains, NY. Since 1985, Rakow Group has helped businesses sell, buy and/or lease the commercial space they need to thrive and is one of the most active commercial real estate firms in the region. For more information, visit www.rakowgroup.com.

“The work I have done on behalf of Feeding Westchester certainly helps me to better understand the needs of all the non-profits we represent”, said Rakow.

About Feeding Westchester

For 30 years, Feeding Westchester, formerly known as Food Bank for Westchester, has been the heart of the fight against hunger in Westchester County. We support more than 300 community food programs that are directly feeding the 200,000 county residents who struggle with hunger each year. Last year Feeding Westchester distributed 7.5 million meals across the county. Every $1 donated to Feeding Westchester provides 4 meals for our neighbors in need. Westchester’s collaboration with major retailers and corporations, and its expertise in food procurement, storage, and distribution, turns every monetary donation into fresh food provided for our community. For more information, visit feedingwestchester.org.

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commercial property for rent

5 Types of Commercial Property

Commercial property is a very diverse and intriguing option for investors or businesses looking for places to house their companies or opportunities to make some nice profits. It includes several different types of property, each with their own unique set of characteristics and advantages.  If you’re seeking commercial property for rent or sale, it’s a great idea to narrow down what specific property type you are looking for. Rakow Commercial Realty Group has been working in commercial real estate for over three decades and would love the opportunity to help you with any of your office space real estate for sale needs.

  1. Industrial Space

Industrial space is a diverse property type that can be used as warehouses and shipping facilities. Sometimes, the properties are even able to connect directly to train cars for loading and unloading. You can manufacture and house physical goods in these properties as well, making them very valuable for many businesses.

  1. Retail Space

This type of commercial property space refers to real estate intended for selling goods to consumers. Restaurants are included here, as well as larger shopping centers with “Anchor” tenants like Best Buy or PetSmart. Even outlet malls fall under this lucrative category. Finding your ideal retail property for lease with the help of Rakow Commercial Realty group is a breeze.

  1. Office Buildings

You’ve seen them in every city in America. Tall awe-inspiring skyscrapers, smaller professional buildings, and even single-tenant properties can all fall under the office building property type. These are properties designed strictly for office space. It’s an option that can provide consistent returns on investment over a long period of time.

  1. Land

This property type refers to investment properties that are essentially undeveloped land. The land is normally on its way to becoming something more developed. It’s more speculative in its nature, but purchasing land can certainly be very profitable.

  1. Multifamily Property

This category typically consists of apartments and high-rise condo buildings where people can either buy or rent places to live. With this property type, the potential for stable long-term returns is always on the table due to the necessity for apartments in larger cities.

The five types of commercial property above all provide different advantages and disadvantages according to your own personal business needs. If you’d like any advice regarding commercial property for sale or lease, please reach out to the Rakow Commercial Realty Group today.

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