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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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commercial property for sale

3 Tips for Locating Great Commercial Real Estate Deals

Finding the best commercial real estate deals is no walk in the park. It requires hard work and business savviness to locate a property that is undervalued and a good investment opportunity. If it were easy to find great commercial real estate deals, everyone would be doing it. However, once you find a great commercial real estate deal, you are providing yourself the potential to make huge returns on your investment. Commercial real estate can greatly appreciate in value if you pick the right location.

Finding commercial property for sale that has a lot of potential is much easier with a trusted broker working with you. Locating office space real estate or commercial property for sale is one of the specialties of the Rakow Group. We can help you negotiate a great deal and locate the best properties to bring your business forward. We’ve worked hard to put together the following list detailing 3 tips for locating great commercial real estate deals.

  1. Remember that Time Is of the Essence

When it comes to commercial real estate deals, it’s important to remember that time is always of the essence. There are always people out there looking for great deals, and your deal can easily be hijacked if you are late to the party. Many times, the highest offer isn’t the one that gets accepted, it’s the first offer. Keep that in mind when you are seeking out commercial property for sale to avoid missing out on valuable opportunities.

  1. Understand that It’s a Numbers Game

Finding the best commercial real estate deals comes down to a numbers game. The more properties that you go out to look at, the better chance you will have to find awesome deals. If you want help using cutting edge real estate databases and professional guidance in viewing commercial property for sale, the Rakow Group can help you every step of the way.

  1. Think About Buying Foreclosed Properties

This tip can be a great way to find truly great commercial real estate deals. When a property owner does not pay their mortgage for a while, the entity that lent the money will eventually repossess the property. The lender then will list the property on the market. It’s important to remember that banks don’t like managing commercial property, so they will often offer discounts on foreclosed property just to find a buyer.

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commercial property for sale

4 Things to Ask Before Choosing a Commercial Real Estate Broker

Choosing a commercial real estate broker to work with is a turning point for your entire business. If you make the right decision, you are setting yourself up to find the perfect office space real estate or commercial property for sale. On the other hand, if you end up working with a broker who doesn’t know the ins and outs of the commercial real estate market, you could be costing yourself a lot of money.

The Rakow Group is a premier commercial real estate brokerage firm that can help you locate commercial property for rent, industrial space for rent, or commercial property for sale. It truly helps to have a trustworthy and knowledgeable broker to help you navigate the commercial real estate market. Below, you will find 4 things you should ask before choosing a commercial real estate broker.

  1. Do You Like the Broker?

Working with a commercial real estate broker requires you to communicate your goals and desires clearly so that you achieve your desired outcome. Commercial real estate is all about relationships. If you actually like the broker you are working with, you will be much more inclined to achieve success.

  1. Are They Technically Competent?

You want to work with a commercial real estate broker that you can have a great relationship with, but it’s also very important to ensure that a broker is technically competent prior to deciding to work with them. Make sure they are well-versed in how real estate contracts work, the areas with the best investment opportunities, and what negotiating tactics they will use to get you the best deal on commercial property for sale.

  1. Does the Broker Specialize in What You Are Looking for?

There are so many different types of commercial real estate, it’s a great idea to find a broker that specializes in the particular type you are looking for. If you want to find industrial space for rent, find a broker who has particular experience in leasing industrial property. Office space real estate brokers have a different background than brokers who seek out commercial property for sale.

  1. Will the Broker Be Loyal?

This is another vital question to ask prior to choosing a commercial real estate broker to work with. You want someone who will not put themselves above their clients. Someone who really is looking out for your best interests. Someone like the great brokers at the Rakow Group.

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office space real estate

Unconventional Uses for Office Space Real Estate

Office space real estate is one of the most highly sought types of real estate on the market today. Businesses will always need a space to house their operations, which is why office space real estate tends to hold its value over time. The demand for office space is consistent, and with the help of the real estate experts at Rakow Group, you can surely find a great deal and a new home for your business. Typically, office space real estate is typically used for housing businesses. That being said, there are quite a few unconventional uses for office space real estate that you can potentially take advantage of. Let’s take a look at a few below.

  1. Coworking Spaces

Coworking spaces are spaces designed to provide working space for entrepreneurs and people who are looking for a temporary space to get some work done. Using some of your office space real estate for coworking spaces can be quite lucrative. One idea might be to rent out a portion of your office space on the weekends to earn some additional revenue for your business.

  1. Meet-Ups

Sure, there are probably tons of meetings that take place in your office during the day, but have you considered using office space real estate for hosting meet-ups? There are so many different organizations that would love to have a meet-up at your office. You can provide a space that allows like-minded individuals to collaborate and come up with new ideas. Additionally, partnering up with a charity organization and allowing them to have meet-ups at your office space can help you establish a good reputation for your organization.

  1. Happy Hours

This suggestion is intended for after normal office hours. You can use office space real estate to host happy hours for your business and other businesses as well. Happy hours are a great way to help your employees connect with each other on a personal level and relax. If you are a landlord, allowing your tenants to host happy hours is a show of good faith that goes a long way towards building a good relationship with your tenants. Keep this idea in mind if you are looking for new ways to utilize your office space real estate.

If you are seeking commercial property for lease, contact the Rakow Group today. We have a team of brokers that can help you with any aspect of the leasing process

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commercial property for sale

3 Major Pros of Using a Commercial Real Estate Broker

Hiring a professional broker to help you navigate the complex world of commercial real estate can provide you with immense returns on your investment. Sifting through thousands of listings, aggressively negotiating a deal, and learning commercial real estate jargon are all not straightforward endeavors. Are you willing to handle all of those tasks and more?

Some business owners might like to save money and handle their commercial real estate needs themselves, but hiring a broker really can be worth its weight in gold. Below, you will find 3 major pros of using a commercial real estate broker. If you are seeking industrial space for rent, commercial property for sale, or a world-class commercial real estate broker, please reach out to the Rakow Group today.

  1. Resources

Working with a commercial real estate broker provides you with access to a ton of resources, such as large property databases and a team of knowledgeable real estate experts and negotiators. You simply won’t have the same level of resources if you choose to handle everything on your own. Experience, connections, and knowledge are all extremely valuable resources and are at your disposal if you choose to work with an experienced commercial real estate broker.

  1. Time Savings

Time is money. This is true for anyone involved in the business world. Working with a professional broker to find properties in your target market that meet your specific qualifications can save you loads of time. That way, you can get back to focusing on your everyday business obligations. Brokers will know right off the bat which buildings are available and affordable, and can arrange meetings with ease thanks to their large network of commercial real estate connections. Additionally, think about all of the time you will have to spend learning lease terms and industry jargon in order to successfully handle a deal on your own.

  1. Expert Negotiators

Successfully negotiating commercial real estate contracts can be a stressful and trying task. A major pro for working with a professional commercial real estate broker is that they negotiate for a living. They are experts in helping you get the best possible deal and handling conflicts. Additionally, they can understand complex legal documents and put their clients first thanks to their extensive real estate knowledge.

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commercial property for rent

Commercial Lease Mistakes to Watch Out For

Signing a commercial property lease can signify the beginning of something great for your business. It provides you with an opportunity to house your business operations and focus your efforts on growth. However, making a mistake while negotiating a commercial property lease can be a costly and embarrassing blunder. Sometimes people get so excited about their new commercial property for rent that they forget to read the fine print before signing.

You want to make sure you are clear on everything in the lease prior to making any decisions. You can establish a great relationship with your landlord by being clear from the start and having a thorough understanding of what the contract consists of prior to beginning your lease. Rakow Group is one of the industry leaders in helping people find commercial property for rent and negotiating commercial property leases. Below, you will find a few commercial lease mistakes to watch out for ahead of closing on commercial property for rent.

  1. Accepting the Standard Lease Agreement

Leases are contracts that can be amended based on either of the involved party’s wishes. You don’t have to accept the standard lease agreement if it doesn’t include everything you need. Additionally, with the standard lease agreement, your business is most likely going to have to take the majority of the financial burden for any damages that happen to the space. Don’t make the mistake of accepting the standard lease agreement if it doesn’t meet your standards. You have rights as a future tenant, exercise them!

  1. Neglecting Real Estate Taxes

Taxes are a fact of life for any business or property owner. Unfortunately, tenants can have a tendency to neglect considering what the real estate taxes will be when signing a commercial lease agreement. This can be a costly mistake. Make sure you understand what percentage of the building’s real estate taxes you are responsible for covering as a tenant.

  1. Missing Rate Fluctuations

If the lease states that the landlord can reevaluate the space during the lease and change rates like water and electricity, make sure you catch it. Ensure that you have an understanding of rate fluctuations prior to accepting the terms. It’s certainly possible for a landlord to double or even triple rates if it is within their legal boundaries.

  1. Negotiating Alone

It’s understandable that business owners are always looking to save money. However, going into a commercial lease negotiation alone is a big mistake. Instead, invest some time and money into finding a qualified broker to help you find the best commercial property for rent and negotiate the best lease terms. A brokerage firm like the Rakow Group can be a priceless asset during commercial lease negotiations.

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industrial space for rent

4 Tips to Improve the Appearance of Industrial Office Space

Industrial office space tends to have a distinct purpose. Things like manufacturing, storage, and shipping are all common usages for industrial space for rent. However, if you plan to spend time in industrial office space or will have employees working within your industrial space, it’s important to consider ways to improve the appearance of the space. That’s because industrial office space for rent tends to be a bit grey and lacking in personality.

You don’t want to make any changes that are too drastic, as it’s important to stay within your lease terms. However, making a few small adjustments and creating a work environment that you and your employees are happy to work in can increase productivity and make things a lot better for anyone spending time in the space. If you are looking for industrial space for rent and would like to work with industry experts, contact Rakow Group today.

  1. Consider Improved Lighting

Lighting is an important concept to think about in any space, especially in industrial spaces. Choosing warm lighting can be more inviting for employees and help them enjoy going to work. Without proper lighting, a space can appear dark and cold. This can have a detriment on the morale of employees and people that are spending time in the building.

  1. Plants Bring Spaces to Life

Bringing plants into industrial space can make a huge difference in the appearance of it. They are an inexpensive and practical way to increase creativity and oxygen flow within the space. The positive effects that plants and greenery can have on employees make adding plants to the office space real estate a fantastic idea.

  1. Add Art

Art always has a lot to offer in terms of improving the aesthetics of a space. Add some art to your industrial space to spice things up. Make sure that the art you choose is a reflection of your company’s values, brand, and reputation. The right art in industrial space for rent can be a game changer.

  1. Organize Everything

Industrial space for rent is usually spacious. That’s why organization is a skill that’s key for improving the appearance of industrial space. Make sure that your office layout takes advantage of natural light and does not feel too disorderly. Keep files and documents in designated spaces that are uncluttered and take advantage of any extra space you have available.

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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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