Kansas City office space for lease

4 Mistakes to Avoid When Acquiring a Kansas City Office Space for Lease: Part II

Leasing an office space for the first time can be daunting—there are a lot of pitfalls that businesses can easily fall into. Fortunately, these mistakes are easy to avoid if your business is aware of them. Here are a few more common ones to watch out for:

3. Choosing an office space in an inconvenient location. Sometimes businesses pick spaces that are tucked away from foot traffic or the road, spaces that people forget about until they are right at the doorstep. These kinds of inconvenient locations can impact a business’s success over time. Consider the accessibility of your space in relation to your customers, whether they come as a part of foot traffic or purposefully to your space, because a hard to find space is of no benefit to you or your customers.

4. Leasing a space that does not have the right amenities or enough parking. Your business only functions as well as your employees, so it is important to ensure that there is enough parking capacity for all of your employees as well as the right amenities. Making sure that your space has enough amenities to keep your employees happy means that they will be more likely to be productive, which helps the overall success and revenue of your business.

Stepping back from the stress and details of a lease to consider obvious factors like customer traffic and the happiness of your employees can help you avoid mistakes like these.

If you are searching through commercial MLS listings in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100 for some help finding your perfect office space!

4 Mistakes to Avoid When Acquiring a Kansas City Office Space for Lease: Part I

While finding an office space can be a great move for businesses both big and small, there are a lot of mistakes that companies make on the types of leases the acquire that can hurt their company down the line. Here are 4 major mistakes to be aware of and avoid when finding an office rental space:

1. Leasing a space that is too big or small. Over or underestimating the amount of office space your business will need for all projects, departments, and employees is one of the biggest mistakes businesses make. It can be tricky to estimate, because a space always seems a bit bigger when empty, but taking the time to figure square footage needs specifically for your business is important.
2. Acquiring a space that is not within their financial means. The expense of renting an office space is difficult on any business’s budget, but choosing a space that is even more expensive than what you budgeted for can really strain the entire business’s finances. Carefully review your budget before you even begin looking for an office rental space so you have a clear number in mind of what your business can realistically pay for a space. And then do not go over that number.

Some of these mistakes may seem obvious, yet business still fall into them often. All of these are easily avoidable with a little planning and research!

Give us a call at 913-685-4100 and we can help you calculate square footage needs for your business!

Chiefs Tickets for Sale through Southcreek Office Park

If you are looking to get to some football games this fall, check out the opportunity in the Southcreek Office Park newsletter to purchase season tickets for the Chiefs this fall. Here is some more information about these available tickets:

Club level – 4 great seats for 10 home games
Seats are in section 202, row 3, seats 9-12
Parking in Gold Lot (M)
The owner is willing to sell 2 or 4 tickets for the games – each with a parking pass
Seats are $276 each, parking passes are $45 each
Total for 2 tickets + parking pass = $597
Total for 4 tickets + parking pass = $1194

The following games are still available:

vs San Francisco 49ers – 8/16/13
vs Green Bay Packers – 8/29/13
vs Houston Texans – 10/20/13
vs Cleveland Browns – 10/27/13
vs San Diego Chargers – 11/24/13
vs Indianapolis Colts – 12/22/13

You must pay in full with cash/cashier’s check, or via PayPay by credit card (but the buyer incurs PayPal fees). If you are interested, please contact Jill at Jill333 [at] aol.com!

Give Kathy Woodward at DDI Commercial a call at 913-685-4100 to learn more about our available Kansas City office space for lease!

Checklist for Leasing Overland Park Office Space Part II

Here are some more suggestions for a checklist your business might consider making before leasing a new office space:

5.   Handicapped Accessibility: Is the space wheel-chair accessible with a reasonable amount of handicapped parking? Legally, buildings have to have designated handicapped parking, so if you do not see any, ask the landlord why not, and if they are planning to add spaces. A landlord could try to pass the cost of these kinds of additions and renovations onto their tenants.
6.   Safety and Insurance: You will need general commercial liability insurance to move into most leased commercial spaces. If you cannot get insurance after signing a lease, you might find yourself still stuck paying for that lease anyway. Some specific safety questions you should ask include whether the area is safe and secure, whether it has ample and working nighttime lighting, are there alarm services or onsite guards, are there nearby police or fire departments, the location of the nearest fire hydrant, and whether there are smoke detectors and sprinklers in the building. Concerns like these affect the safety of you and your customers as well as your ability to get insurance and the rates and coverage of that insurance.
7.   Restrictions on Business Use: Are there any restrictions on the type of retail business you can run, the hours or days of your business operation, or how many customers you can have per day?

Think about what will best help your business succeed and grow, and make your own checklist to aid your search for Kansas City office space for lease.

If you are interested in finding an office space lease in Overland Park, give us a call at 913-685-4100!

Office Space in Kansas City Equipment Leases

Given the current state of our economy, leasing office equipment might be a more sound financial option for businesses than taking out commercial loans. The benefits of leasing depend on the different types of leases. Here is a little bit about the two primary kinds of commercial equipment leases:

Capital Lease – In this type of lease, both the asset and the corresponding debt are recorded on the lessee’s balance sheet. Because of this, the lessee holds all the tax benefits, with deductions for the interest part of the lease payment and depreciation expense. When the lease term ends, the lessee can either get the equipment’s title transferred to them, or have the option to by the equipment for a minimal price (i.e. one dollar).
Operating Lease – In this kind of lease, the lessor keeps the ownership of the equipment or asset. When the term of the lease ends, the lessee can either return the piece of equipment to the lessor, or buy it at a fair market price. The lessor retains tax benefits, including depreciation of the asset and any tax credits, but these benefits may be transferred to the lessee in the form of lower lease payments.

If you decide that leasing office equipment is the best option for your business, look into these different types of leases to decide which one is a better fit!

To learn more about Kansas City office space for lease through Southcreek, give a commercial real estate broker in Kansas City a call at 913-685-4100!

Kansas City Office Space for Lease Options

When negotiating a lease, it is good to bear in mind that there are several options to consider and address. Weighing the pros and cons of each of these could save your business some money or prevent future issues in your lease. Here are a few options to think about:

1. Option to renew. This is the most common option included in a real estate lease. Your landlord will want to raise the rent at the end of your initial lease period, so this is something you might want to address in advance—for instance, by getting an option to renew at a fixed price instead of renewing at the fair market price at the time. This could help you save money at the end of your initial term, especially if office rental rates have increased.
2. Short lease with one or more options to renew. This kind of lease gives you flexibility. Usually landlords give you a certain period of time before your initial lease ends to determine whether you want to renew your lease and to notify the landlord in writing that you would like to renew at a predetermined amount. This option might also include an extra fee for the right to stay, which would be determined at the beginning of your initial lease. Besides an increase in rent, the terms of the initial lease typically apply in the renewal period.

These are just a few options for your leasing possibilities (see the next post for some more). Be sure to consider what option is best for your business as you begin your negotiations for your Kansas City office space.

If you are looking for Overland Park office space for rent, give us a call at 913-685-4100 to talk about leasing with Southcreek!

Overland Park Office Space for Rent

Before you wrap up your search for Overland Park office space for rent and sign that dotted line, you might want to carefully go over several different aspects of your lease with a commercial real estate agent or your potential landlord. A previous post suggested a few topics you might want to discuss; here are a few more to think about:

Amenities. You might want to ask about what is included in the space you are renting: do you have your own restrooms, or will you be sharing? Does the building have a security system? Central air conditioning? Is it wired for high-speed internet? Find out about these and other included amenities.
Terms. You will want to decide whether you would prefer a short or a long-term lease. Think about the future of your business, and consider whether the space you are looking at will have enough room for you to grow in the next few years, especially if you are want to expand your business’s services or hire more employees. You can ask about the possibility of expanding into more space in that same location. The benefit of a long-term lease is that you could potentially negotiate for special terms, such as an adjustment to your rent during a slow season. You might also want to find out what happens once your lease ends to avoid any issues such as your rent doubling.

It cannot hurt to thoroughly review these and other important topics before you sign a lease for your new Kansas City office space!

If you would like to discuss any of these topics in regards to Southcreek’s available Kansas City office space for lease, give us a call at 913-685-4100!

Executive Office Overland Park

Looking for an executive office in Overland Park? Here are some tips to help you in your search:

Hire the best broker for the job. If you are thinking about utilizing a broker, be aware that most commercial real estate brokers focus on only one or two types of property (i.e. warehouses or offices). Be sure to find a broker that has experience with the type of space you are looking for.
Be careful with subleasing. If you want to sublease a space you are renting, make sure that you are aware of what your lease document says about this. Most landlords have the right to approve your subtenant. Remember that if your potential tenant defaults, you will still be responsible for the lease.
Find the right amount of space for your business. This is a tricky line to walk, because not enough space can hurt your business’s productivity, but too much can be a waste of your business’s money. You might consider consulting a space planner, architect, or real estate advisor to accurately determine how much square footage you will use.
Think about future real estate needs. Consider how you want your business to potentially grow in the next few years. Are you growing at a steady, moderate pace, or would you like to double your employees soon? Bear in mind that most leases are at least five years, so be sure not to commit to something that you will outgrow in the next year or two.

Keeping in mind these and other tips could be useful as you look for the best possible Kansas City office space for your business!

If you are looking for Kansas City office space for lease in the Southern Johnson County area, give one of Southcreek’s commercial realtors a call at 913-685-4100 to learn more about our available spaces!

Kansas City Office Space for Lease

Did you know that office space is usually one of the largest expenses for a growing company? Think of what your company could do with some money you save by negotiating the best possible lease. Not all Kansas City office space for lease offers standard terms, but here is a little bit of information on leases that could help you become a little more knowledgeable:

Terms of the lease. Long term-lessees typically have the advantage of potentially gaining concessions from their landlord. However, the needs of your company may change depending on growth and other factors, so a good middle road might be a shorter-term lease with renewal options.
Permitted use of the space. Office leases usually include a part that states the allowed uses of the rental space. It is in the lessee’s best interests to make this clause broad in case you want to sublease or diversify your business.
Rent increases. You will rarely find fixed rent in the case of a long-term lease, so be prepared to negotiate about your annual rent increases, usually based on percentage increases in the CPI (Consumer Price Index). If possible, you can try to arrange for the CPI increase not to start until two years and try to cap the amount of each annual increase, or discuss the possibility of a predetermined fixed increase.
Subletting and assignment. Your business might want to negotiate a flexible subletting and assignment clause to account for potential reorganizations, mergers, or share ownership changes.

Learning the language of leasing is a good step in making sure that your business saves money when securing your new executive suites in Kansas City.

If you would like to ask questions you have about Overland Park office space for lease through Southcreek Office Park, give us a call at 913-685-4100!