What is the best way to find commercial office space for rent?
How a business can save time and optimise the outcome when finding and securing commercial office space to rent.
The process of finding suitable commercial office space for your company to rent can be a formidable task. Commercial leases are complex and there are several types of commercial leases offered by the various Landlords, depending on the building, the use of the space and the location. Many commercial tenants are tempted to use a simple Google search to find and secure office space for their companies, in the mistaken belief that a direct Landlord deal, or the employment of several commercial property brokers, will somehow ensure the lowest rental. It may. However, the Landlord often perceives the spate of enquiries as indicative of several tenants’ interest in their commercial office building. And this is also by no means the best way to secure the optimum overall lease deal for your company.
Whilst the Internet is a very useful tool to scan the marketplace, enlisting the services of a respected and experienced commercial property brokerage, like 5th Avenue Properties, will ensure that you not only secure the most suitable office premises on the best possible terms for your company but will also save a great deal of time, allowing you to focus on your core business.
Commercial property brokers are specialists dedicated to leasing and selling commercial property, whether office space, retail, or industrial. They know and understand the market within which they specialise. The commercial office broker will, by carefully listening to your brief, by asking the correct questions and by working closely with you and your team, narrow down the many options available, to those properties that meet your company’s requirements in terms of location, space, budget, and any additional needs. A knowledgeable and experienced commercial real estate broker will assist in ensuring that your company secures the correct amount of space for the duration of lease term negotiated.
There is currently a glut of commercial office space available to rent, and to sub-lease, which has resulted in several different and constantly changing tenant incentive offers being made available to tenants. This is where the experience of a commercial property broker, gleaned over several decades of working ethically and professionally with the Landlord stakeholders, and with a comprehensive understanding of the market within which they operate, will add considerable value because it allows them to negotiate lease terms that ensures the best possible deal for your company. This includes rentals, fitting out allowances, escalations, rent free periods and more.
Unlike the residential property market, commercial office brokers operate in an open mandate system and are thus authorised by all the major industry players, and often also by private individuals or tenants that wish to sub-lease their office space, to offer their commercial office properties for lease or for sale at a specific price. So, whilst the commercial property brokers at 5th
Avenue Properties will only ever advertise or present commercial office space at mandated rentals which may differ from that advertised by others, they will always advise and work closely with the commercial office tenant to ensure the best possible overall lease deal considering all of the factors.
It is also important to note that a commercial office real estate broker is remunerated by the Landlord. So not only will the appointed broker assist in finding the ideal office premises for your company’s tenure and in negotiating favourable lease terms and conditions, but the service will be at absolutely no cost to the company.
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