2 Factors for Assessing a Commercial Office Space in Kansas City
There are two important components to consider when renting commercial real estate. Most important is the piece of property itself – the location, any necessary improvements, and the state of the buildings. The second is the lease, which encompasses the business side of the deal. Here are a few tips for weighing the pros and cons of each of these considerations, as suggested in the article “How to choose the right commercial property”:
One thing to consider is the state of the rental buildings. They might be in a very established area and highly trafficked, but if they are older buildings, they might require a lot of improvements and maintenance. Consider also whether the location is suited to your type of business. It might be important for you to be near the city center, but know that the rent will also be higher there than on the fringes of a city. For example, if you receive regular shipments you may want to be near easy highway access, or if you’re in retail you might want a location with a lot of foot traffic.
Consider whether the type of lease offered is best for your business at this point in time. For example, a startup business will most likely want a shorter lease with options to renew, but a more stable business might want a longer lease and the benefits it offers. Make sure you understand clearly who is responsible for what costs, including maintenance, taxes, repairs and all of the other expenses associated with a commercial property. If the lease doesn’t make good business sense for your company at this time, it is wise to walk away no matter how much you like the property.
When selecting a commercial property, consider all aspects of the property in the lease. Do not hesitate to ask a lot of questions and negotiate for favorable provisions. Talk extensively with your landlord – through an attorney or commercial real estate agent if possible to get expert advice. You will be stuck with the space for at least a year or a two, so it is extremely important to make sure it’s exactly what you want.
If your business is looking at commercial MLS listings in Kansas City, give us a call at 913-685-4100 to find out more information about our affordable office space in Kansas City or to set up a tour.