Overland Park office space for lease

Office Space Overland Park KS

Figuring out the correct value of an office space in Overland Park KS can be a tricky business, especially when you factor in property taxes. One way to investigate the correct value of a piece of commercial real estate is to find out what nearby properties are valued. It can also be helpful to have a little background information on factors that determine property taxes:

Market Value. Market value is officially considered the price a buyer would pay for a certain property. It is important to not confuse the dollar amount your company is paying for property tax, because oftentimes businesses are assessed at a lower dollar value for the purpose of property taxes.
Property Improvements. Contrary to the belief of many small business owners, building improvements actually will not raise the property tax rate for several years. So spending money on improvements now could actually improve the value of your real estate soon.
Historical Value. Whether or not a property is considered “of historical significance” could be either a good or a bad thing for your taxes depending on the local government. Some governments tax businesses more if they are in a historical area, while others actually assess lower taxes.

If you want to get a better read on whether the price of an Overland Park office space for lease is fair and accurate, doing a little background research into factors like these might be useful.

Want to learn more about Overland Park office space for rent? Give us a call at 913-685-4100 and feel free to ask us any questions you have about Southcreek properties!

Overland Park Office Space for Lease

So you have narrowed down your search for Overland Park office space for lease and you are getting ready to seriously and consider and sign a lease. Before you go forward, make sure that you fully understand all of the details of what you are signing. Here are a few topics that you might want to discuss with a commercial real estate agent or a potential landlord before committing to a lease:

Cost. A real estate agent or some careful research on your part can help you find out what the average lease costs in your area for a basis of comparison. Remember that areas that are high-traffic or more desirable for various reasons will cost more than areas that are less desirable. Be sure to find out not only what the cost per square foot is, but also other costs included in the final price, such as common area maintenance, property taxes, utilities, property insurance, or trash collection. You might also want to inquire about what the space itself includes—the “shell” (walls and concrete floors), or more than that?
Traffic. Is your business one that relies heavily on foot traffic, as in the case of retail or restaurants? If so, you might want to ask about the traffic numbers in the property area you are considering. A business that is a destination will need to make sure the property has ample and convenient parking for customers. A good commercial real estate agent should be able to provide you with demographics, car counts, and any other necessary information.

These are just a few things to investigate before signing a lease to make sure you are getting the best deal on office space in Overland Park KS for your business (check out the next post for more)!

If you have any questions about Southcreek Office Park’s available executive suites in Overland Park, give us a call today at 913-685-4100!

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!