Tag: Overland Park office space for rent

6 Ways To Be A Savvy Kansas City Office Space Lease Negotiator

The current real estate market is ideal for business owners looking to upgrade or find a new space, but even in this buyer’s market negotiating a lease is still a challenge for prospective tenants and requires careful research and diligence.  Once you have found your dream location, take a look at a few of these ways to make sure you are negotiating the best lease you can get:

Setting Your Lease Term
Your first negotiating point in a lease will be the term and the rent.  Ideally, your goal is to avoid over committing while still allowing yourself flexibility in the long run.  Most small businesses aim for a one to two year lease term with the option to renew.  It is also important to address rent increases over your term, along with renewal options, to avoid getting hit out of the blue with rent increases, which can be a sudden blow to your margins and cash flow.

Be prepared for a landlord to push for a long-term lease.  Utilizing a broker who knows the market and landlords’ tricks is a smart idea, but be aware that brokers work for the landlord and get commission on the total value of your lease.  You might talk to a real estate lawyer before consulting a broker to get some recommendations and some help navigating negotiations.

Read Your Lease
It seems like a no-brainer, but it can be tempting to skim through some of the dull parts.  However, it is important to go over all of the details of your lease and even hire a commercial real estate attorney to review the clauses and fine print.

Looking for Overland Park office space for rent?  Give us a call at 913-685-4100 to find out about our available office space in Overland Park, KS!

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Residence Inn Deal by Southcreek Office Park

The Marriotts in the Overland Park area are offering some great deals for Southcreek Office Park tenants, including at their Residence Inn in Overland Park!  Whether you are involved in a long-term project, relocation, or management training, Residence Inn by Marriot has suites designed to make any extended stays comfortable for you.  Here are some of the amenities and services included at Residence Inn:

  • Free full, hot breakfast buffet every day
  • Free internet access in all rooms
  • Separate areas for working, living, sleeping and eating
  • Complimentary social hour Monday-Thursday
  •  Fully-equipped kitchens

The Southcreek Suites of Summer Promotion-Rate for Residence Inn of $119.00 is valid until 7/7/13!  If you know you, a client, or a family member needs to make an extended stay in the Kansas City area at some point this summer, book your room now to take advantage of Residence Inn’s many amenities and this special price.

If you are looking to make your business stay in Overland Park a little more permanent, give a DDI commercial real estate broker in Overland Park a call at 913-685-4100 to find out about our available Overland Park office space for rent!  Our rental spaces put you close to all of the services and amenities of Johnson County, often with great deals and discounts—such as these Marriott specials—just for being a Southcreek tenant!

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Overland Park Office Space for Rent Leasing Tips

Lease negotiations can be an arduous process for small businesses leasing Overland Park office space for the first time.  Here are a few tips to keep in mind as your business looks into leases:

Watch Out for Assignment Clauses
Be wary of an assignment clause in a lease that states that a change in more than 50% of the stock ownership of the company is prohibited without the approval of the landlord, because this could result in the accident termination of a good lease.  If your company grows and gains more investors, you could inadvertently trigger this clause.

Try to Avoid Personal Lease Guarantees
Sometimes landlords want a personal guarantee from the founders of the business if the potential tenant is a corporation or other entity.  If possible, avoid this clause, because it could put both your personal and business assets at risk.

Negotiate the Best Possible Lease Relocation Clause
A relocation clause allows the landlord to move a tenant to another space within the building or complex if a larger tenant needs the space.  Your company probably will not be able to get this clause removed from the lease, but you could try to negotiate it as much in your favor as possible by requesting three contingencies.  First, ask for the same rent, office structure, views, quality of furnishings, etc. in the new space.  Second, make sure the clause says that the landlord is responsible for any moving or renovation costs associated with the relocation.  Third, insist on at least a month’s notice for relocation.

Being aware of these little parts of leases can help your business avoid any lease surprises down the line.

If you want to find out more about executive suites in Kansas City, give one of our commercial real estate brokers a call at 913-685-4100!

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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!

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Overland Park Office Space

Familiarity with the terms and basics of renting Overland Park office space can be a leg up for a small business looking to find an office rental space.  To help you keep up with negotiations with commercial real estate agents and landlords, check out some more commercial real estate terms to know:

1.    Tenant improvements: Improvements done to the interior of an office rental space, which can be paid for by the tenant, the landlord, or both, depending on the type of lease.
2.    Common area maintenance (CAM): The additional rental charges that tenants pay to maintain common areas of the property, which are typically available for use by multiple people and owned by all tenants.
3.    Letter of intent: An informal, non-binding agreement between the lessee and landlord declaring their intent to proceed with negotiations.
4.    Latent defect: A problem with the property that could not have been discovered through normal inspections performed before the agreement.
5.    Work letter: An agreement between the tenant and the landlord dealing with all issues related to the construction, or build out, of the interior of the rental space.

Having these terms in mind can help you be a little more prepared to wade through all of the charges, types of leases, and agreements that are a part of finding Kansas City office space for rent.

If you and your small business would like to learn more about Overland Park office space for rent through Southcreek Office Park, give us a call at 913-685-4100!

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Executive Office Suites in Overland Park, KS

Finding the executive suites in Overland Park that will best serve your businesses needs involves some research and consideration.  Some factors to think about discussed in a previous post include anticipation of your business’s growth, common area maintenance charges, and types of rent.  Here are a few more to think about:

  1. Tenant Repairs and Improvements.  Who is responsible for making repairs—the landlord or you?  Find out during negotiations.  You also might want to ask about what kind of improvements, including signage, you are allowed to make or not make.
  2. Renting and Subletting.  If you do think you will use all of the space available, you might want to ask the landlord if it is possible for you to sublet that extra space, and what the specific terms of that action might be.
  3. Competing businesses.  Some leases in certain locations include a clause that states that the landlord cannot rent space to similar businesses or your direct competitors within a specific distance of where you are located.  Ask about this clause during negotiations if you think this might be an issue for your business.
  4. Parking and Access.  If you will be having customers or clients frequent your business space, you might want to make sure they will have adequate and convenient parking space.

Knowing and planning out every detail of what you want in your executive office in Overland Park can help you navigate negotiations more successfully and smoothly.

If you want to learn more about Overland Park office space for rent in one of Southcreek’s many available buildings in the area, give us a call at 913-685-4100!

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SAFEHOME Flag Football Tournament Near Southcreek Office Park

Enjoy some fall football for a good cause in the 2012 SAFEHOME Red Flags for Domestic Violence Flag Football Tournament!  Here is some information about this upcoming event, you can also check out the SAFEHOME football flier 2012:

Date: October 27th 2012

Time:
Coed check-in at 8:00 am
Coed play at 9:00 am
Open check-in 8:00 am
Open play at 9:00 am

Location:
Mid-America Sports Complex
20000 Johnson Drive
Shawnee, KS

Tournament Info:
•    32 team limit
•    13 teams in each Open and Coed Division
•    Pool Play
•    Professional referees
•    Each team guaranteed 3 games, and championship games for each division

Game Info:
•    30 minute games
•    Two 15 minute halves with a 5 minute halftime
•    Fields are 60 x 40 yards

Admission
•    $275 per team up to 12 players – Public Safety Team (police, fire, etc.)
•    $350 per team up to 12 players – All other teams
•    $10 per additional player

Other Info:
•    Players receive tournament shirts
•    1st and 2nd place teams get trophies
•    Two concession stands will be open at the Mid-America Sports Complex
•    No outside food or alcohol allowed
•    Rainout date is November 3rd (In the event of another rainout, your sponsorship/registration will be considered a donation)

Register your team on the SAFEHOME website by October 17th and get ready for some football!

If you are looking for Overland Park office space for rent, give one of Southcreek’s commercial real estate brokers in Overland Park a call at 913-685-4100!

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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:

  1. 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.
  2. 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.
  3. 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!

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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:

  1. 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.
  2. 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!

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