Insights
Coworking workspaces are becoming the new norm for up-and-coming businesses, offering the creature comforts of a big corporation – high-tech workstations, coffee supplies, conference rooms – at a price startups can afford. However, just because a coworking space seems to have it all doesn’t mean there isn’t room for negotiations or amendments to your lease.
For many Millennials, the word “office” drums up visions of 1970s wood-paneled walls, fluorescent lighting and an endless maze of cubicles. While we’re just starting to understand what lies in the future of the “office,” the truth is, it’s changing quickly. If you’re thinking about leasing a property or a new office space, you may...
It’s common knowledge in this business that most real estate agents will fail to succeed in their first year. After struggling to get by with little business, most would-be agents decide to move on. Aside from things like working harder than anyone else or making it a point to learn daily, there are a few...
5 Reasons a Good Commercial Real Estate Broker Adds Tremendous Value Choosing the right office space is one of the most important steps a small business owner can take, which is why it’s crucial to have an expert commercial real estate (CRE) broker with local ties to guide you through the process. Not only will...
Relocating and choosing a new office space is a lot of work, no matter the size of your company. However, it also provides an exciting opportunity to start fresh in a new space. Carefully consider the following points to ensure you get the most out of your move.
So you finally found the space you were dreaming of. Now it is time to work out the details beyond the first year’s rent. Each particular aspect of the lease has its own importance and to ensure the security of the great new spot you are locking down, do not just skim over all the...
The healthcare industry and medical office real estate are undergoing a tremendous shift. This is because healthcare professionals are adjusting to a new mode of service delivery, the effects of the Affordable Care Act and the growth of the 65+ demographic. While many of the same principles required to lease general office space apply to...
At Tenant Advisory Group, negotiations are a part of everyday life. Last week, we gave 5 tips for successful negotiators. We have 5 more tips for a successful negotiation. Tips 6 through 10 focus on understanding the other side of the negotiation process.
From the seasoned lease or contract negotiator to the first timer, it is vital to have a strong set of ideals behind all negotiations. The more confidence in and acumen with these skills that one has, the higher opportunity for coming away with a positive outcome.
Starting your own business is hard enough, but taking the plunge and moving into your first office space, can be even harder. Finding the perfect spot requires planning, patience and a solid team behind you. Though it can be overwhelming, I’d like to share six tips that can help you during the process:
As brokers, we’ve seen it all: The good, the bad and the ugly. From hidden fees to poorly constructed buildings, many of these “headaches” can easily be avoided – as long as you know what to look for. If you’re planning a commercial lease or purchase, it’s important to know what you are getting into. When you begin going on-site to...
Investing in commercial real estate is a great way to diversify your portfolio as well as make some extra money. Unlike stocks and bonds, commercial real estate is a hard asset that provides income via rent collection and, in most long term cases, an appreciation of value. The best way to begin investing in commercial...
From founding a company to raising money to launching a new product. Each stage of an entrepreneur’s journey is crucial – and certainly at every stage of growth. It’s not always talked about but short of what you pay your employees, office space is often a startup’s largest fixed expense. Finding the right office space...
Increasing employee productivity has been a challenge faced since the early days of the traditional office space. Unfortunately, many companies overlook a simple yet crucial solution: office layout. Improving the overall design of a space can do wonders in improving corporate culture, leading to better productivity.
We’ve had our eyes on the Southwest Loop for quite some time. We already mentioned this booming corner of the loop in our Up-And-Coming Chicago Neighborhood Guide, but with the extent of recent activity, we decided this part of the loop deserved its own dedicated post. Here’s what you can expect to see in the...
Listing a property for the highest possible price may seem like the best course of action, but more often than not it will deter buyers and negatively affect the final sale price. Establishing the price in line with comparable properties in the area, or slightly lower, will help move the property faster with less cost...
Qualification is essential when looking to lease a commercial space for your business. You and your new landlord will be making an investment in each other so it’s important to prove to the landlord that you are up for the financial commitment of the move and setting up of the new space.
Building a career in the real estate industry can be frustrating and even intimidating for newcomers. Sadly, the failure rate for new agents is pretty significant. For anyone who’ trying to make a name for themselves, being diligent and avoiding these common beginner mishaps should help your chances of succeeding in this business:
Negotiation is an integral part of initially securing your lease. Imagine this: Your broker did a great job negotiating your lease. The space comes with all the amenities you could imagine AND you saved a great deal of money a few years prior when you signed. Your company loves this space, but this year has...