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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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retail property for lease

4 Crucial Commercial Real Estate Terms

In the commercial real estate business, it pays to do your research. The number of commercial real-estate specific words can be a little bit intimidating to those unfamiliar with the subject. However, by doing your homework, you can really ensure you know what you are getting into prior to signing any contract. The chance to save your company thousands of dollars should not be passed up. Learning the lingo will definitely serve you well. We’ve put together a list of 4 crucial commercial real estate terms for anyone looking to brush up on their commercial real estate lexicon below.

  1. Landlord Representative

When you are looking for retail property for lease or retail property for sale, you will most certainly have to deal with a Landlord Representative. This is essentially the leasing and/or agent for the property in question. They are the person acting in the best interests of the property owner or landlord, not necessarily you. A good landlord representative possesses lots of experience and great negotiating skills. They know exactly how to craft the best deal for any office space for lease or commercial real estate property for the landlord.

  1. Building Classifications

If you are looking for commercial real estate or office space for rent, you will need to know about this term. There are three Building Classifications for office buildings. Class A Buildings are top of the line, higher-end spaces with great locations and amenities. Class B Buildings are generally average buildings. Finally, Class C Buildings are usually much older and in less desirable locations.

  1. Letter of Intent

Whenever you are putting the finishing touches on negotiating a commercial office space lease, an LOI always come into play. The Letter of Intent is a written document used to summarize all of the terms of the lease and solidify the tenant’s commitment towards renting the space. It usually comes before signing the lease agreement and can be either binding or non-binding.

  1. Tenant Improvements

This refers to changes or alterations a tenant can make to the property to better suit their needs. Floorings, air conditioning, painting, security, you name it. Tenant improvements should be negotiated prior to signing a lease.

The terms listed above should provide lots of help for those new to the commercial real estate world. We highly suggest going into any commercial real estate deal with a basic knowledge of the above. If you are looking for professionals with years of experience in commercial real estate to help you gain an edge in your deal, look no further than Rakow Commercial Realty Group.

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office space for sale

Due Diligence in Commercial Real Estate: An Overview

After finding the ideal retail property, industrial space, or office space for sale for your business, the real fun begins. This is when you should typically start the process of due diligence. Definitely, plan on putting in some hard work to make sure no stone goes unturned.

Due diligence is essentially reviewing every possible legal and financial aspect of a property prior to making a commercial real estate acquisition. It is an intensive process that takes time and commitment. Skipping steps in the due diligence process could mean big trouble in the future for you or your company. When you are spending or borrowing huge sums of money to purchase property, the last thing you need is an unanticipated issue or surprise. That’s why we have created a brief checklist below providing an overview of due diligence for commercial real estate transactions. We hope it provides a great baseline after you locate a retail property for sale that’s to your liking.

Three Different Buyers, Three Different Approaches:

Every commercial real estate transaction will typically include three different types of buyers. The investor looks to get a return on their investment and wants to ensure that future cash flows are stable and satisfactory compensation for the risk they are undertaking. The end user wants to actually use the property and make sure that the property can handle their intentions. The developer will either lease out, resell, or change the property and will be looking for the ins and outs about permits and planning for the property in question.

Basic Principles of Due Diligence:

You certainly want to make sure you are aware of any legal restrictions that the property may have. This will require checking for special permits and zoning for the property. Take into account the suitability of the property for your needs. Request the original plans for the building and consider present and future environmental concerns. Make a list of the characteristics of the property and carefully study its legal descriptions. Easements, covenants, and restrictions must all be investigated. Check to make sure that the seller has the legal right to actually sell the property in accordance with the original purchase agreement. Finally, don’t forget to consider the future cost impacts and financing implications prior to signing the deal.

We hope this high-level summary of due diligence has provided you with a nice overview of how the process works and why it is so important. If you’ve found office space for sale that you’d like to purchase, remember the true value of due diligence and how much an experienced commercial real estate team like the Rakow Commercial Realty Group can help.

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commercial property for rent

Important Questions to Ask when Finding a Commercial Real Estate Broker

Are you in the market to buy, rent, or sell commercial property? Choosing the right broker can make or break you in a variety of ways. You want to find someone who is trustworthy, experienced, and knowledgeable without breaking the bank. The company that the broker represents is also important, as it can potentially offer lots of experience and resources to bring to the deal.

Finding the right commercial property for rent or sale is often one of the most important decisions you will make in the life of your business. There are several very important questions to ask prior to making any commitment to a broker.

How much experience does the broker have?

You want to work with someone who knows the ins and outs of the commercial real estate marketplace. If you are looking for industrial space for rent, find someone that has years of experience in finding that particular type of property. If you want to find office space real estate, find a broker that has successfully set people up with an office you would be proud to call your own. A broker that specializes in the specific type of property you are looking for is key.

Is the broker good at communicating?

Communication is absolutely crucial in any business transaction. You can start to get a sense of whether or not the broker is a good communicator from the onset of your dealings with them. Are they proactively reaching out to you to ensure you are on the same page? Do they seem to be on top of their scheduling and commitments? Are you left feeling like all of your questions were answered after a conversation with them? These are all important things to think about when choosing a commercial real estate broker.

Do you understand the broker’s fees?

It doesn’t matter if you are buying, selling, or leasing commercial property, you most certainly want to have a clear understanding of the broker’s fees prior to making any decisions. The last thing you want is to owe a commission or fee that you were completely unaware of after committing to a property.

Do you like the person you are dealing with?

When you start a business relationship with a commercial real estate broker, you aren’t just working with their company, you are working directly with a person. If your personalities or views are not a good match, you are likely to run into conflicts at some point down the line. By finding a broker that you enjoy dealing with, you are setting yourself up for success.

Rakow Group has the most qualified team of specialists in the industry. If you are looking for a commercial property for rent or commercial property for sale, or if you’d just like to have more information, please call us now at (914) 758-0220.

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office space real estate

Selecting the Ideal Commercial Office Space

Getting the corner office is a dream that pertains to the vast majority of people in the business world. It’s a symbol of power and success. However, the sign of a truly great business owner is someone that sees office space not as a status symbol, but rather as an opportune location to build something great.

It’s a place that can house your team so that they can build the future your business deserves. Whether you have found the perfect industrial space for rent, or have just been handed over the keys to your new office space real estate, you will have some important decisions to make in order to get the most out of your space. Below you will find a few valuable tips and ideas that will help you make the most of your commercial office space real estate lease.

  1. Do Some Homework

When seeking out commercial property for rent, there will be a large assortment of options, prices, and locations to choose from. It pays to do extensive research by examining the market and thinking about what type of amenities and location are ideal for your business in its current growth stage. Additionally, the more knowledge that you can gain about current market conditions prior to making the deal can lead to towards finding the perfect commercial real estate opportunity.

  1. Keep Your Clients in Mind

If you are planning to have clients come in for meetings in your office space, it’s important to think about the first impression your office space will give. Do you want your clients to be picking up their jaws off of the floor after they see your modern, large, and refreshingly inspired office? By keeping your ideal clients in mind, you can choose office space real estate that works as a powerful selling tool for your brand and business.

  1. Consider Sharing Space

Sharing office space is not just for lean start-ups looking to cut costs. It can be a great option for bigger companies that are looking to accelerate their growth and potentially have offices in multiple locations. Saving money on your leasing costs directly impacts your balance sheet, which means you will have more money to spend on research and development, marketing, etc.

Finding office space real estate is an important aspect for every business. We hope the tips above have provided you with some great ideas on how to locate the ideal space for your business. For more information, call Rakow Group now at (914) 758-0220.

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industrial space for rent

Practical Uses for Industrial Space

Leasing or buying industrial space is a practical option for businesses looking to set themselves up in a physical location without having to construct a building from the ground up. Why pay to purchase a plot of land and construct something when you can lease or purchase an existing property that is undervalued? This mindset definitely makes sense for a lot of business owners.

In today’s industrial space real estate marketplace, there tend to be quite a few industrial spaces for rent that can provide great opportunities for you and your business. The trick is determining how to get the most out of the space and while also covering all bases for your business needs.

Below, we will discuss a few of the practical uses for industrial space that you can apply to your own business plans.

Warehouses

One of the most commons uses of industrial space for rent is using the property as a warehouse. If your business involves creating, shipping, and transporting lots of goods, materials, and physical products, you will most certainly require a space to house them all. Choosing a great location that allows the goods to be easily transported is also key. Industrial spaces are ideal for warehouses.

Manufacturing Facilities

Industrial spaces are usually quite large, making them perfect for setting up a place to manufacture goods. If your business demands lots of space to house large machinery and physical materials, seeking out industrial space is an excellent idea. Additionally, these spaces tend to be ideal for shipping the goods out after they are manufactured because they often contain large garages and transport bays.

Office Spaces

Sure, industrial spaces don’t have the fancy amenities and luxuries that commercial office spaces typically provide, but using industrial space as an office can save you tons of money. It’s fairly easy to convert an industrial space into an office for your business. These spaces provide lots of opportunity for customization as well. You can have the space function as both a warehouse and an office to get the maximum value from your lease or purchase.

Creative Opportunities

Perhaps the best thing about industrial space is the versatility that they provide. There have been spaces repurposed for residential use, middle schools, sports complexes, and art museums. The possibilities are nearly endless. With a creative mindset, you can transform an industrial space from an empty warehouse into a practical and low-cost, revenue-generating powerhouse.

For more information about our industrial property for rent and industrial property for sale listings, call Rakow Group at (914) 758-0220.

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