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industrial space for rent

4 Things to Consider When Renting Industrial Space

Renting industrial space isn’t as simple as showing up and signing your name on the dotted line. You have to do your research and find a property that meets your unique business needs. There are lots of different things to consider that will help you make sure you are making the best business decisions with your industrial space for rent. Renting industrial space is quite different from renting office space real estate. Rakow Group can help you find the best industrial space for rent and guide you through every step of the process so that you end up renting the right space for your business. We have years of experience helping our clients find the absolute best industrial space for rent in their area. Let’s take a look at four things to consider when renting industrial space.

  1. Ceiling Height

When you are renting industrial space, there’s a good chance you will need to store lots of physical inventory on the premises. That means making sure that the ceiling height is adequate for how you will use the space. If you need to stack lots of boxes or pallets, you need a high ceiling in your industrial space for rent. On the flipside, if you don’t need to stack your products than a higher ceiling can end up becoming a waste of your valuable money and space.

  1. Shipping and Distribution of Products

Renting industrial space will only be successful if the property is able to ship and receive your products. If you need a truck court that is big enough for 18 wheelers to come in and out, make sure that the industrial space has it. A docking area is pretty essential if you plan to use your space as a shipping and distribution point for your business. Also consider the location of the space, because time is money when it comes to shipping.

  1. Power Requirements

Before you sign a lease for your industrial space for rent, make sure the property can meet all of your power requirements. If not, you could potentially be making a very costly mistake. Confirm what type of power you will gain access to with the space before you sign the lease.

  1. Floor Loads

Think about the design of the concrete slab in your industrial space. You don’t want a floor in your space that can’t handle heavy equipment. If you don’t consider the floor loads, you could be in for big problems later on down the road.

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commercial property for rent

Financial Commitments of Renting Commercial Property

If your business is seeking commercial property for rent, there are quite a few financial commitments you should consider prior to making any final decisions. You need to make sure that the commercial property for rent meets your budget and business requirements. Office space real estate or industrial space for rent can cost your business lots of money if you don’t understand the financial implications of the space. Rakow Group can help you understand what the monthly costs for a property might be and help you find the right commercial property for rent.

Financially, renting can actually make a lot of sense for your business. The upfront costs can be low and offer the opportunity to find a space for your business that doesn’t require the same large cash outlay that buying does. That being said, there are certain costs that you will have to incur when renting commercial property. Let’s take a look at a few of those financial commitments below.

  1. Security Deposit

It’s quite common for a landlord to ask for a security deposit upfront in order to rent commercial property. The security deposit allows the landlord a form of insurance if there are damages or financial issues that the business leasing the property can’t handle. For example, if you end up damaging your commercial property for rent, the landlord can deduct the cost directly from your security deposit. On the other hand, if your landlord doesn’t need to use the security deposit, you will typically get it back at the end of the lease.

  1. Rental Costs

There are obviously rental costs associated with commercial property for rent. You will agree to a monthly rent price when you are negotiating the contract. This is a monthly dollar amount that will be due each month on a specific date for the duration of the lease. It’s important to choose commercial property for rent that meets your budgetary requirements prior to signing any contract.

  1. Utility Bills

The business leasing a commercial property is typically responsible for the utility costs for the property. This can fluctuate from month to month, which means it’s important to do a little bit of research to determine what that range might be. You don’t want to underestimate what the utility costs might be. That can be a very expensive mistake to make with commercial property for rent.

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office space real estate

4 Tips for Touring Office Space Real Estate

If you are a business owner, there’s a good chance you will have to deal with finding office space real estate at some point. Finding the right commercial property for rent can be a launching pad for your entire business operation. The right office space real estate can be more than just a place to house your business. The problem is many business owners aren’t clear about their objectives for potential office space real estate and what they should be looking for when they are touring certain spaces.

Working with a great brokerage like the Rakow Group can mean gaining the perspective of an expert that has been in the real estate world for many years. Our brokers can help you find the best commercial property for rent and assist you in making the best possible decision for your business. Below, we will provide you with 4 tips for touring office space real estate.

  1. Pay Attention to Details

When you are looking for office space real estate, your tenant representative will typically provide you with many options that fit your detailed criteria. You can narrow things down with their help, but there’s no substitute for actually visiting the property yourself. During a tour, it’s vital that you pay attention to details. Take notice of things like the parking garage and traffic as you are entering and exiting the property. Look at the public restrooms to get a sense of how the property management is doing. Look at the fixtures in the halls and bathrooms to get an idea about when the last upgrades to the building occurred.

  1. Do Your Homework

In order to maximize your tour of office space real estate, you should make sure that you do your homework prior to stepping foot inside the space. Come up with a list of criteria that your ideal space would have. Have a set of questions that you can ask the leasing agent during your tour so that you make the absolute most of your time spent at the tour.

  1. Limit Yourself to 3 or 4 Tours per Day

You don’t want to tire yourself out when touring office space real estate. That’s why it’s a great idea to limit the tours to 3 to 4 per day. You can avoid losing an eye for detail and ensure that you are making a good decision by following this rule of thumb.

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commercial property for sale

The Necessary Steps to Take for Owning Commercial Real Estate

Owning commercial real estate is a dream for many business owners and investors. It’s an opportunity to purchase something that can appreciate greatly in value and provide businesses with the location they need to do great things. The decision to purchase commercial property for sale or office space real estate should not be rushed. You need to make sure you are prepared for the risks and work it will require to be successful. Working with esteemed brokers like those at the Rakow Group is one way to help get yourself prepared and make sure that the deal is a success. Below, we will discuss some of the necessary steps to take for owning commercial real estate.

  1. Determine Your Needs

Prior to starting a search for commercial property for sale, it’s important to ask yourself what you need. Simply stating that you want to buy commercial real estate isn’t going to cut it. Figure out what your budget is, locate an area that interests you, and determine what your ultimate end goal is for the commercial property. It’s also very important to decide what your risk tolerance level is.

  1. Hire a Broker

It’s possible to handle a commercial real estate purchase on your own, but it will help a great deal if you decide to hire a professional broker. Not only do brokers have lots of resources and knowledge, but they can also help negotiate a deal in your favor.

  1. Visit Lots of Different Properties

When you first start thinking about purchasing commercial real estate, you might feel overwhelmed at the sheer amount of properties that are available for you to choose from. It can be tough to narrow things down, which is why we suggest visiting lots of different properties. That way you can decide what works best for you and figure out the ideal location for your purchase.

  1. Finance the Deal

This goes without saying but figuring out the financing for a deal is essential. Make sure you are considering things like property taxes and depreciation. Create a budget that makes sense and don’t neglect thinking about the future as well.

  1. Make the Offer

It helps to have a broker and a lawyer to help out with this step. After you have found the right commercial property for sale and determined your financing, you might be ready to make an offer. This basically consists of signing a LOI, or Letter of Intent, and delivering it to the property owner.

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commercial property for sale

How Rakow Group Can Help You with Commercial Real Estate

The commercial real estate world can be very difficult to navigate if you don’t have any prior experience. With many different market prices to compare, tons of legal terms to understand, and the need for good negotiating tactics, many people are not able to adequately handle commercial real estate deals on their own. That’s why working with a professional brokerage firm like the Rakow Group can be such a valuable asset. With decades of experience, the Rakow Group can help you and your business find success in the commercial real estate market.

Below, we will take a look at a few of the ways the Rakow Group can help you with your commercial real estate needs.

Locating Industrial Space for Rent

Industrial space is a property type that typically includes locations such as warehouses, manufacturing buildings, and factory multi-use buildings. It can be complicated to find the best industrial space for rent, but not with the Rakow Group helping you out. Leasing industrial property is all about experience and relationships, both of which the Rakow Group can offer your business.

Finding Office Space Real Estate

Every single business is different. That means every single business has different needs for their office space real estate. The Rakow Group can help you find the ideal office space for lease that meets all of your company’s needs. We can assist you with negotiating a favorable lease and starting your relationship with your landlord off on the right foot.

Navigating the Commercial Property Market

The commercial property market is not easy to navigate without resources. It’s a relationship based business that can be grueling to traverse without the proper help. The Rakow Group can help you navigate the commercial property market and find commercial property for rent that meets your qualifications. We also have an extensive database of commercial property for sale if you are looking to purchase rather than rent.

Negotiating Leases and Deals

If you decided to work with one of our brokers, you know that you are getting an expert negotiator that can help you get the best possible deal. It doesn’t matter if you are renting or buying, you can rest assured that our brokers can negotiate their way into a favorable outcome. Contact the Rakow Group today if you are seeking commercial property for rent or commercial property for sale.

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commercial property for lease

How to Lease Commercial Real Estate

Leasing commercial real estate is no small task. You have to find the right commercial property for lease. You have to do research about the market. You have to negotiate and ensure that the property or space works financially for your business. There are a variety of things to watch out for, especially, when you are negotiating a lease. There are so many things you need to know in order to successfully lease commercial real estate that it’s worth every penny to hire a professional broker to help out. The Rakow Group can help you handle any commercial real estate lease and locate the best commercial property for rent. We’ve prepared a few tips below that detail how to lease commercial real estate.

A commercial real estate lease is a legal agreement between a landlord and a business. It allows businesses to rent commercial space and conduct business in that space during the allotted time in the lease. Commercial leases typically come in three forms: full-service leases, modified gross leases, and net leases.

One of the important steps towards leasing commercial property is understanding the different types of leases. A full-service lease is commonly used when leasing office building. The rent is all inclusive so the business won’t have to pay for things like building maintenance, janitorial services, and utilities. With a net lease, the business pays less than they would for a full-service lease. However, things like building property taxes and more will typically be added as monthly costs. A modified gross lease is a combination of both leases mentioned above; it’s a fixed cost that avoids charging taxes or unexpected costs.

Another big step in leasing commercial property is setting your parameters. That means deciding what your budget is, what kind of space you need, how much space you need, and considering any zoning restrictions that you need to be aware of. Ignoring any of these steps might come back to haunt you. The Rakow Group can help you every step of the way during the commercial leasing process and make sure that you find the best commercial property for rent.

Perhaps the most crucial step in leasing commercial property is finding a trustworthy broker. There are typically two types of brokers: leasing agents and tenant brokers. Both have their own advantages and disadvantages, but keep in mind that leasing agents work for the landlords. If you want any help finding the right broker for you, reach out to the Rakow Group. We can also help you find commercial property for sale at a great price if you are in the market to buy.

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commercial property for rent

3 Commercial Lease Negotiating Tactics

Finding the right commercial property for rent that meets the needs of your business is a difficult endeavor. It’s worth it to invest the necessary time and money needed to find a broker to help you every step of the way. Working with the expert brokers at Rakow Group can help you locate the right property and receive a great deal. Office space real estate is more than just a place where you work. It’s the home base of your business and the foundation for future success. Once you have located a space you are interested in leasing, you will have to negotiate the lease terms with the person or business leasing the space. This can be a big challenge to overcome. It really helps to have someone knowledgeable and professional to help you during the negotiations. Below, we will discuss 3 commercial lease negotiating tactics that our brokers will utilize to help you get the best possible lease terms.

  1. Understand the Different Lease Options

So you’ve found the commercial property for rent that you want to house your business. That’s all well and good, but you can make some big mistakes during negotiating your lease if you aren’t familiar with all of the different lease options. You can go with a gross rent lease, which means you will pay a single amount to your landlord that covers everything including incidentals. A net lease is another about where you will pay base rent plus either property taxes, insurance, or utilities. A percentage rate lease means you will pay base rent plus a percentage of your sales. Keep all of these options in mind and choose what works best for your business.

  1. Extensively Research the Property

Doing your homework is a great way to gain some leverage during negotiating a lease for commercial property for rent. Check out the other tenants in the building. See what the building traffic is like. Look for red flags regarding your future landlord. The more you know, the better prepared you are to get the best deal. A broker at the Rakow Group can help you extensively research a property and give you great advice for negotiating the best lease.

  1. Check Local Market Rents

The last tactic to use when negotiating leases for commercial property for rent is to check out what similar properties are going for in the local market. That way, you will have a realistic idea of what you should be paying and what the lowest possible rent can be. The more information you have, the better deal you can get.

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commercial property for rent

3 Qualities Startups Should Look for in Office Space Real Estate

Choosing the right office space real estate is an important step towards growing your business. You want a space that is comfortable for your employees and promotes productivity while not spending a fortune on your monthly rent. Locating a space in a great area that doesn’t break the bank is even more vital for startups. Since startups are typically focused on maximizing the return on every dollar spent, office space real estate that offers a lot of value is key. Finding the right commercial property for rent can be challenging, but with the help of an expert brokerage firm like the Rakow Group you can certainly set your business up for future success. Below, we will discuss 3 qualities that startups should look for when selecting office space real estate.

  1. Adequate Office Size

When you are working with a limited budget, sometimes you have to make sacrifices when seeking commercial property for rent. That being said, it’s important to find an office space that is big enough to fit all of your employees and equipment without feeling cramped. Bigger isn’t always better, but a tiny office space that feels overcrowded can be a serious detriment to the productivity of your workers.

  1. Affordable

Startups are great because they are lean and mean. What starts as a small 5 to 10 person company can end up becoming a corporate powerhouse like Uber or Google if things are done right. In the early stages of a startup, it’s important to make every dollar count. This particularly holds true for spending money on office space real estate. Startups need to look for office space that is extremely affordable while providing a lot of value. Many startups look to shared office space or co-working spaces. It’s important to ask yourself what the bare minimum requirements are for your office space prior to beginning your search.

  1. Flexible Lease Terms

The last thing a startup wants to do is lock themselves in a 5-year lease and find out one year into it that they need more space. Longer leases offer more choices, but less flexibility for your business. Finding office space real estate that offers great value with flexible lease terms is like finding a diamond in the rough. Working with expert brokers at the Rakow Group can help you negotiate the lease that works best for your startup.

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commercial property for sale

The Three Main Types of Commercial Real Estate Investments

It takes money to make money. This old adage holds true in many different ways, particularly, when it comes to commercial real estate investments. You need to have sufficient capital to even be in the market for commercial real estate purchases. However, if you decide to make an investment in real estate, you are opening up a world of opportunities to see your investment appreciate in value.

It takes a savvy investor with knowledge of the commercial real estate market to find something that might make a good investment. Additionally, using a great brokerage firm like Rakow Group provides you with the resources to make an investment that is likely to bring you a great return on your investment. We can help you find the best commercial property for sale and work with sellers during negotiations on your behalf. Below, we will discuss the three main types of commercial real estate investments to give you a better sense of the great opportunities waiting for you in commercial real estate.

  1. Land Investments

One of the more common types of commercial property for sale comes in the form of land. This can be a truly great investment if you purchase land in the right area. There are several ways to make money by purchasing raw land. You can simply hold onto the land and hope that the value appreciates. Additionally, you can use the land to build commercial office buildings or shopping centers and ultimately sell them. If it’s farmland, you can allow farmers to raise livestock or grow crops. The potential for investments in land is huge.

  1. Retail Space

When seeking commercial property for sale, retail space is always a great property type to keep on your radar. Always consider the location of the retail space you are looking to buy before making in big decisions. Purchasing retail space in a high traffic area that is growing will help ensure that your investment pays off in the end.

  1. Office Buildings

The third main type of commercial real estate investments is office buildings. Office space is normally in high demand, regardless of the location. You can invest in office space real estate and receive cash flows from any tenants that are occupying the space during the period in which you own it. There’s even more investment potential for office space in a major metropolitan area. If you are seeking commercial property for sale, contact the Rakow Group today.

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commercial property for rent

5 Important Things to Remember When Leasing Commercial Property

Leasing commercial property is a crucial step towards growing your business and setting yourself up for future success. There are many things to consider prior to signing on the dotted line. Commercial property for rent is usually abundant, but not every property will be right for your business needs. Don’t avoid doing your due diligence when seeking commercial property for rent because it can come back to haunt you.

Finding the right property can be a challenging and time-consuming endeavor. That’s why working with commercial brokers like the professionals at the Rakow Group is such a great decision. It really helps to have a professional broker with vast experience to assist you in navigating the commercial leasing market. Below, we will go over 5 important things to remember when you are leasing commercial property.

  1. Ask Who Is Responsible for What

After you’ve found the ideal commercial property for rent, it’s important to ask your future landlord who will be responsible for what. Who is responsible for maintaining the property? Who will pay for repairs on the premises when it is necessary? Who will take care of managing any equipment on the property? It’s very critical to go over these details with your landlord prior to signing a lease. The lease agreement should clearly spell all of these details out.

  1. Determine if the Rent Is Fair

Another really important thing to remember when leasing commercial property is to determine if the rent you will pay is fair. You can take a look at similar properties in the area to get a good baseline for what is an appropriate rent price. Make sure you understand any percentage-based rent increases as well.

  1. Look Out for Additional Clauses

A lease contract will often contain additional clauses that are very important to look out for prior to agreeing to anything. If you are leasing space in a shopping center, you should ask if you have to comply with any special restrictions. Things like contributing to the center’s marketing activities can be costly.

  1. Establish Your Tenant Rights

When you are negotiating a lease for commercial property for rent, it’s important to establish your rights as a tenant prior to signing the contract. Determine if the lease has a Right of Assignment clause, which allows you to transfer the lease to a new tenant if you need to. Look out for early termination penalties and what the process is for terminating the lease, if necessary.

  1. Choose the Timeframe that Is Right for Your Business

It’s common for landlords to want to lock you into a long-term lease. That way, they don’t have to find a new tenant for a while. However, if you are a startup or a newer business, you can choose a shorter term timeframe with the option to renew. You know the best option for your business, so don’t be afraid to ask for the timeframe that’s right for your unique situation.

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