Pros and Cons of Moving Your Business From the City to the Suburbs

Posted on June 16, 2022 by bafcorp20

Everyone knows it is more expensive to live in the city compared to the suburbs, and this year, the price of city life has seemingly skyrocketed. From excessive overhead expenses, rising corporate rent, and loss of tenancy across the board, it is no surprise that so many business owners are choosing to relocate outside of the city district to a more cost-effective region. Yet despite the many benefits that come along with moving your business to the suburban areas, you can expect to encounter a few pitfalls.

Before choosing your new business space in the suburbs, continue below to review some well-noted pros and cons of making the move, plus where to get the best commercial real estate space planning and permitting advice in Central Indiana.

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Should You Locate Your Business in the City or Suburbs?

Like anything decision in life, deciding between moving your business or staying in the city will require some critical thinking. One of the most basic methods of gearing up a successful brainstorm is comparing pros and cons. Many argue that moving a business to the suburbs will deliver cost-savings and ultimately, a higher quality of living. While others warn that making such a move can subject a business to reduced access to nearby amenities and walk-in customers, as well as a smaller pool of aptitude.

Pros:

You Will Save More Money and Have a Better Life

Relocating your business to the suburbs or suburban areas will certainly set you up for a long list of cost savings. Not only can you attain cheaper office rent or commercial lease, but you will also enjoy lower taxation rates and pay less in payroll.

As for your actual business space, you will get more bang for your buck in the suburbs. Office spaces in suburban areas tend to have more square footage and cubic square footage. They also tend to have better features and amenities, such as parking lots, landscaping, security, and more.

When it comes to paying taxes, you will be relieved of your responsibility to cover income tax, corporate tax, sales tax, and more. You will likely pay less in payroll since you won’t have to compete with the average cost of living in the city. Those who live and work in the suburbs have lower living costs, which means a lower salary will still be a desirable one because still goes a long way.

Saving all this money on overhead expenses, taxes, and facility maintenance will have a significant impact on your annual dividends, and more importantly, your overall quality of life. Suburban life is typically safer and experiences less criminal activity.

Cons:

The Needs of Large Scale Organizations May Not Be Met

If your business is a large corporation or company, the city might be the most compatible location in terms of meeting the needs of your business operations and objectives. For instance, city areas are typically epicenters for all sorts of travelers, cultures, services, entertainment, and more. Some businesses rely on this draw of people.

Additionally, walkability is greatly reduced in the suburbs. Being in the city gives you access to all sorts of services and stores within walking distance. For businesses that rely on walk-by or walk-in service, a city location that is densely packed will be most beneficial. Along with walkability, city areas have ample access to public transportation.

If a business chooses to move from the city to the suburbs, they could risk losing a wide scope of talent and entertainment. It is much easier to find talented employees and contractors in the city than it is in the suburban areas. Furthermore, it can be more difficult to locate and procure the resources you need for your business operations.

Would you like professional assistance with commercial real estate procurement in Indiana? Contact BAF Corporation at 317-253-0531 for commercial space planning and permitting in Indianapolis, Indiana. Our commercial general contractors can help you find and renovate the best space for your business.

Is it Better to Lease or Own a Commercial Building?

Posted on June 10, 2022 by bafcorp20

Are you looking for a new commercial space for your business? If so, you will soon be making the decision between buying or leasing. What are the pros and cons of renting a commercial space versus owning? Does owning come with certain inherit risks? Will renting come back as an economic disadvantage down the road?

Continue below to review some important considerations that will help you decide between buying and leasing commercial real estate.

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To Buy or to Rent Commercial Real Estate?

Well, that is the question; isn’t it? Whether you are looking for commercial real estate for a small office, multi-divisional headquarter, retail storefront, café, factory, or distribution facility, your decision to buy or lease will rely heavily on your capacity to take fiscal risks. Here are some of the top considerations to keep in mind when weighing the pros and cons of each option:

Buying a Commercial Space

There are plenty of upsides to owning your own commercial space. Not only will your asset appreciate over time and build you equity, but it will also give you full control over the property itself. In many industries, this level of executive decision-making is essential. With full control, you don’t need permission from a landlord or property management company to do any type of renovation or build-out to your commercial space. On the other hand, you’ll still be subjected to local zoning, permitting, and building codes. Not to worry, this is something your Indianapolis commercial general contractor can take care of for you.

Another prime advantage to owning your own commercial spaces being your own landlord. Not only does this give you more flexibility over rent rate adjustments (as opposed to going through landlord), but it also gives you the opportunity to generate additional income by renting excess commercial space to other tenants. Of course, with owning any type of property, you are typically eligible for certain tax credits and tax breaks, such as interest paid, business expenses (including startup costs), and depreciation of value.

Lastly, owning your own commercial space will provide you with the benefit of an investment safety net. If anything were to happen to your business, such as bankruptcy or closure, you would still have your commercial asset to fall back on. You could choose to sell the property or continue renting it to another tenant or tenants.

Potential Downfalls to Owning:

A large down payment is required to procure a commercial property, typically between 10% and 40% of the property’s full market value. Along with a substantial down payment, you’ll also be subjected to additional financing fees and expenses.

If you have difficulty qualifying for financing, you will be subjected to using unconventional lending sources, which can result in cost-prohibitive interest rates. Furthermore, commercial real estate loans can come with terms and conditions that are with prepayment penalties, including defeasance and yield maintenance.

In terms of investment, commercial real estate procurement always comes with the inherent risk of depreciation rather than appreciation. It is very possible for a commercial property to lose value rather than gain it over time. When it comes time to sell, you could lose money.

Being your own commercial a commercial property owner automatically subjects you to a legal duty of care. Under premises liability law, you will be responsible for any damages and losses incurred by a victim of a wrongful accident that takes place in your property.

Then there’s always the risk of outgrowing your commercial space. If this were to happen, you could hire a commercial general contracting company in Indiana to remodel or build-out your current property. But in some cases, business owners are forced to sell and relocate, which can be inhibiting to business operations, and not to mention, very expensive.

Renting a Commercial Space

Now, let’s take a closer look at the pros and cons of leasing a commercial space. First and foremost, leasing a commercial space is safe much faster process than procurement. This allows you to get your business operations up and running sooner, which in turn starts generating income faster. It is also a lot easier and faster to get approved for a lease than it is for a loan.

Another notable advantage of leasing commercial property is the upfront affordability. Rentals do not require a substantial down payment other than a first month and last month deposit. A rental deposit compared to a down payment is much lower, giving you more capital for starting your business.

As we continue down the list of all the pros to renting a commercial space, you will see a pattern of cost-savings. Renting versus owning will save you a lot of money in terms of maintenance and upkeep. You will not have to hire an in-house custodial service, nor outsource for landscaping, street sweeping, parking lot repairs, and seasonal maintenance work. All of these facility maintenance needs will be incorporated into the total cost of the lease and provided by the landlord.

Leasing also entitles you to certain tax breaks and tax credits. Not only can you deduct your full lease payments, but you might also be able to deduct insurance costs and property taxes.

Potential Downfalls to Leasing:

In some cases of leasing a commercial space, you will pay more in monthly rent than you would in a monthly mortgage payment plan. And since your rental payments are not going toward the goal of outright owning the property at some point, these payments can be viewed as wasteful. Unless you are in a lease-to-own agreement, you will not build equity with your rental payments.

Under a commercial lease, you are not permitted to rent out excess space to tenants. This means you will not have the opportunity to generate secondary income. This is just one way you are under the control of the landlord or property manager. Which comes to our last notable downfall to leasing, you have very limited control over what you can do with and within the property.

Are you looking for a trusted commercial general contracting company who can turn your new commercial space into exactly what your business needs? Contact BAF Corporation at 317-253-0531 for professional commercial construction management and space planning in Indianapolis, Indiana.

Should I Use a Hard Money Loan to Invest in Commercial Real Estate?

Posted on April 28, 2022 by bafcorp20

If you are an investor looking to diversify your portfolio and increase your annual dividends, commercial real estate is a wise investment to make. Just keep in mind that investing in commercial real estate or rental properties is not as straightforward as buying and selling your stocks. Many commercial real estate investors prefer more of a backseat, usually opting for crowdfunding operations or even real estate investment trusts for financing their acquisitions. But for those, perhaps yourself included, who wish for more of a direct ownership approach, a hard money loan could be a profit-effective, fiscal opportunity to explore.

Continue below to learn more about taking out a hard money loan for commercial real estate investments, plus some of the most noted pros and cons.

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Short Term Lending With Hard Money Loans

A hard money loan is a type of short-term cash advance used by commercial real estate investors as leverage so they can adequately finance their investment prospect. Most commercial lenders and conventional banks do not offer hard money loans. These loans are primarily issued by private lenders.

Often times, such loans are used by commercial proprietors looking to quickly renovate and remodel a property for resale. Hard money loans are also a popular choice among investors because they can actually cut through the red tape, which makes the acquisition process much faster. And the faster you can acquire an investment property, the sooner you can turn on that cash-flow.

Advantages of Hard Money Loans

Although there are several intricate and perpetuating advantages of using a hard money loan, the main ones are easy, quick turnarounds and loan flexibility. There are many times when a commercial real estate investor is presented with a great investment opportunity and does not have time to waste jumping on it. While traditional loan processes can drag out, potentially causing an investor to lose out on the deal presented to them, hard money loans tend to release funds a lot faster.

Hard money loans are also advantageous in terms of loan forgiveness and flexibility. Not only is it more effectual to negotiate with a private lender on the terms and conditions of such loans, but it is possible to restructure payment schedules, customize loan maturity dates, and even reduce some fees.

Disadvantages

When it comes to investing, where there are advantages, there are always a few disadvantages. As for hard money loans, the same expectation applies. Although there are good pros of hard money loans, there are some cons that might sway your decision to move forward. For starters, hard money loans are easy and convenient, and convenience costs extra. Such loans are more expensive, which can be considered a disadvantage to some.

Furthermore, hard money loans are used as bridge financing, so their terms are much shorter than traditional loan arrangements. Basically, you have less time to pay off a hard money loan than you would with a conventional loan.

Are you looking for a qualified commercial general contractor to help you with your real estate acquisition and space planning needs? Contact BAF Corporation at 317-253-0531 for professional commercial construction management and space planning in Indianapolis, Indiana.

What to Consider When Selecting a New Investment Property

Posted on April 25, 2022 by bafcorp20

Many experts will agree that investing in commercial real estate is a wise endeavor. Several of the most successful businesswomen and men in the world have an investment property or two within their portfolios. If you are currently searching for some income-generating commercial real estate to invest in, continue below to review some top considerations that will help you be the most successful with your business enterprise.

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Commercial Real Estate Research

When you are preparing to view potential investment properties, research and strategy are essential. The more you know, the more successful you will be in choosing the right properties for your business objectives. Ultimately, you want your commercial property to produce income. In order to achieve this goal of profitability, it is critical to know what to look for. Here are 5 key considerations that will help in your search:

Location

When it comes to real estate of any kind, location will always be a top priority, as it is always a top factor in terms of filling vacancies. Everyone looking to rent wants the best location they can find, but for commercial real estate, some locations are better than others. Think about the surrounding infrastructure, current construction activity, roadway systems, ease of access, interstate/highway entry, surrounding retail, seasonal activity, population, and more.

Existing Listings and Vacancies

Another important consideration when viewing potential income properties is the current vacancies and active listings included. Are there a high number of active listings? How reliable are they? Is the number of active leases influenced by seasonal activity or cycles? These are important questions to ask. As for vacancies, the same need applies. High vacancy could mean a future of low rental rates and mediocre profitability, while low vacancy can portend higher rental rates due to higher demand for space.

Property Taxes

Your next consideration is property tax. After all, you can’t avoid Uncle Sam, especially in the real estate industry. With each new viewing, you need to have a full understanding of the property tax requirements. But do not be scared off right away by high property taxes, as this could be an indicator of just how high in demand the location is. This is common among Class A commercial properties. Also be aware that high property taxes can exist in less desirable neighborhoods as well.

Average Rental Rates

Numbers are important for any type of investment, so knowing the average rental rates in the neighborhood and surrounding region is a vital step toward selecting the right investment property. The rental income for an investment property is the main contributor to your investment’s profitability. You should perform a comprehensive rental history evaluation and cost foreseeability analysis to fully understand just how much rental income you might be looking at, now and in the future.

Future Development

Smart business people are forward-thinkers. And with choosing a commercial real estate investment property, it is important to understand the potential for future growth and expansion. You can rely on the municipal planning department to provide information on any localized developments that have already been zoned. Furthermore, you want to touch on the volume of construction currently taking place in the area. If there are many, it is suggestive of an area in high demand or showing significant growth, both of which would be beneficial to your bottom line.

Are you looking for a commercial management team to help you with preconstruction service in Indiana? Contact BAF Corporation at 317-253-0531 for p reconstruction services in Indianapolis, including commercial space planning and permitting. We serve clients all throughout the state of Indiana.

Commercial Office Design Tips to Improve Workspace Inclusivity

Posted on April 13, 2022 by bafcorp20

When it comes to designing and building a commercial office that incorporates a healthy, functional, and all-encompassing workspace, it is helpful to consider the different perspectives of inclusivity, and what it really means to the individuals who will be utilizing the space. Continue below for some tips on how to improve workspace inclusivity through smart commercial office design and build solutions, plus who to trust for seasoned general contracting services in Central Indiana.

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A Diverse Workforce Demands Inclusive Workspace

The workforce today looks a lot different than it did generations ago. With so much diversity among employees, it is necessary to take the individual needs of each into consideration when planning your commercial office space. How can you design a space that allows staff to perform their best? Higher employee contentment directly links to higher productivity, which ultimately impacts your bottom line as a business owner or commercial real estate developer. Consider demographic factors like age, culture, and religion, as well as physical and psychological factors, such as disabilities, mental health, comfort, security, interest, and more.

With all of these important demographic, physical, and mental factors in mind, you can better design and build a commercial office space that is fully inclusive and functional for your diverse staff, today and for years to come. Begin by focusing on the incorporation of collaborative work areas and quiet spaces, as well as flexible design strategies and team feedback.

Collaborative Design With a Focus on Equity

Incorporating collaborative workspaces in the office can improve inclusivity among staff. Design areas that employees can gather for projects and work assignments, whether to work together or simply in the company of one another. But be sure that all employees can equally access and utilize these collaborative spaces. For example, consider the height, weight, emotional, and physical abilities of your current and future staff. ADA commercial construction and building code requirements help set the foundation for this objective, but additional smart design schematics can improve the level of workspace inclusivity even more.

You do not want someone to be excluded from using a team space because they cannot access it for reasons of physical disabilities or because they are differently-abled. Additionally, you don’t want anyone to experience difficulties utilizing the space due to mental and emotional preferences or conditions. Some people are more social and extroverted, while others are reclusive and shy. Will your collaborative team spaces suit a wide range of personalities? Do not be afraid to ask your staff for suggestions on designing a more inclusive workspace. This is also an effective way to gain perspectives on how your employees view their work like and daily routines.

For this reason and more, collaborative spaces in the office are just as important as quiet workspaces in the office. Accordingly, you want to aim for a neutral color and design palette as to not disrupt or distract employee productivity, nor trigger migraines, stress, anxiety, seizures, and other health implications.

Flexible Design for Future Growth

When designing a commercial office aimed for success, it is imperative to keep your sights on the future of the company. Integrating reasonable flexibility in the design of your workspace will prevent limiting the future growth of your business, allow you to easily shift with the changing environment of the industry, and more effectively respond to the needs of your staff. Aim for a commercial office design with a timeless aesthetic so that it will not quickly appear outdated. Additionally, plan your office design in a way that does not limit the means by which you can use it.

Are you looking for a commercial general contracting company that can bring your design build vision to life? Contact BAF Corporation at 317-253-0531 for commercial office remode l ing and commercial-use construction in Indianapolis, Indiana. We serve clients all throughout the state.

What is White Box Commercial Real Estate Construction?

Posted on March 15, 2022 by bafcorp20

You know how realtors suggest removing or hiding all personal items from your residence before an open house? Some will even encourage home sellers to repaint in a more neutral color palate. Well, this real estate sales strategy is known as depersonalization, and it helps potential buyers visualize their own lives within the dwelling and ideally, feel motivated to make an offer. In the commercial real estate industry, such blank canvas benefits apply in a similar way. What’s referred to as white box real estate is a valuable tactic for filling up unoccupied commercial buildings and spaces with quality tenants.

As a commercial real estate developer or building owner in the same predicament, you would be wise to consider white box remodeling or construction. Continue reading to learn more about white box real estate construction, including which commercial remodeling company to trust for expert advice and craftsmanship.

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White Box Construction Finish

White box construction finish is also called vanilla shell or vanilla box construction finish. This type of construction finish is just that: a blank, white canvas ready for a new tenant to take over. It is a space that has been remodeled or constructed in a way that has it prepped for complete tenant improvement remodeling. The average commercial white box finish would be up to code, plus have all utilities set up, electrical work done, ceilings finished, walls finished and ready for painting, and base floor ready for preferred flooring. White box remodeling or construction also incorporates design details that prepare it for a potential build-out.

Common Finished Elements of a Vanilla Box:

▢ Roofing
▢ Walls
▢ Ceilings
▢ Windows and Doors
▢ Concrete Flooring
▢ HVAC
▢ Hot Water
▢ Electrical Work
▢ Standard Lighting
▢ Bathrooms/Drinking Fountain
▢ Fire Protection Systems
▢ Stairs
▢ Elevator

Considerations for a White Box Remodeling Job

If you are leaning towards white box construction or remodeling for your commercial building, it is important to discuss all terms and conditions of the job with your commercial general contracting company before any work commences. The classification of vanilla shell construction can vary among commercial contracting companies, so it is important to confirm the job expectations in clear and unambiguous detail.

Turnkey Tenant Improvement Construction

A white box construction finish certainly provides an opportunity for turnkey tenant improvements. This streamlined approach allows commercial tenants to customize the interior of their space in a way that optimizes their business’s daily operations, staff productivity, client satisfaction, and overall success. The secret to a successful white box construction or tenant remodeling job is to choose the right Indiana commercial general contracting company.

Are you looking for a qualified commercial construction company to help you with your white box real estate or tenant improvement needs? Contact BAF Corporation at 317-253-0531 for licensed and insured tenant improvements and remodels in Indianapolis, Indiana. We serve commercial and industrial clients all throughout Central Indiana.

How to Lease the Right Office Space

Posted on February 22, 2022 by bafcorp20

Whether you are planning to move your business or open a new location, choosing the right office lease will help set you and your staff up for success. Continue below for some helpful tips on how to lease the right office space that meets your needs, including your budget and overall business objectives.

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Top Considerations for Leasing New Office Space

When you think about moving or opening a new office space, you want to set your focus on how your staff will feel and function. You also want to set this focus on your clients if your business serves customers on-site. Employee contentment and morale plays an important role in their overall productivity. Higher staff productivity improves your business’s bottom line.

Aside from making your staff comfortable, you want to also set them up with the proper design and resources that allow them to perform their duties to the best of their ability, and with optimal efficiency. These too can help improve your bottom line. You will want to think about your office’s size and square-footage, as well as its design, location, amenities, accessibility, budgets, and more.

For these reasons and more, it is vital to choose the right office lease and space that can adequately meet the current and future needs of your business. Here are some tips on how to narrow your office space lease options down to the ones that best fit your business objectives:

Consult With Managers and Team Members

You are not the only voice that matters when it comes to moving office locations. To ensure you find the office lease that best fits your business’s needs, you should solicit input from your managers and staff members. They may have a unique viewpoint on the office’s needs or offer suggestions on how to improve their productivity. Ask them to list their concerns and priorities, then review each list with them to open a discussion.

Take a Staff Survey

Implementing a staff survey is a great way to identify office priorities and areas of improvement. You can choose to conduct this assessment online via email, in person, anonymously, or as a requirement. Ask your staff and management teams how they commute to work, what they like most about the office, what they like least, what they think can be improved, if their workstation is comfortable, and so forth.

You can also ask them if they would run errands or visit other types of businesses on their lunch hour, before work, or after work, like fitness studios, grocery stores, and restaurants. This information can give you an idea of where to look for potential office space. For instance, you might look for office space with an open floor plan and more natural lighting, or near an easy highway exit or popular shopping center.

Think About the Present and the Future

As mentioned, you will want to consider the current needs of your business, as well as the future expected and unanticipated needs. This includes your budget, procurement, staffing, resources, facility maintenance, expansion, and more. These elements can be easily planned and organized with the help of a licensed space planning contractor in Indiana. For instance, you want to choose an office space that can accommodate your current load of business, as well as more business in the years to come. If you are thinking about expanding your operation, you will want to make sure the space you choose is compatible with conversion or remodeling work.

Be Patient

It is important to be patient and take your time during the office space search process. Not only do you want to look at as many spaces as you can, but you will also need to make multiple office lease offers. Ultimately, you want landlords to compete over your business. Talk to the landlords and interview them about their lease agreements, plus introduce yourself to potential neighbors who might give you some insight on the area or building. Do not be afraid to bring your commercial general contractor with you to look at potential office space if you know you will need to implement some degree of remodeling or construction. They can help you identify good and bad locations.

Are you looking for new commercial office space in Indiana? Contact BAF Corporation at 317-253-0531 for superior space planning and permitting in Indianapolis, Indiana. We are experts in office and commercial use construction, as well as tenant improvement remodeling and facility maintenance. We serve commercial and industrial clients all throughout the state.

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3 Easy Options for an Open Concept Office Floor Plan

Posted on February 10, 2022 by bafcorp20

Does your commercial office lack the open-concept floor plan you’ve always wished for, but you aren’t in a position to move locations? Well, you might be happy to know that you don’t always have to move into a new building or lease a new space to get the open layout you so desire. In fact, you may be able to remodel your current office floor plan.

Before getting started, it is important to discuss your office remodeling ideas with a licensed commercial general contractor who can assist you in finding the proper renovation for your particular space. They can let you know if your commercial office space is a good candidate for open floor space renovations, which remodels or renovations are right for your property, and whether your lease includes a tenant improvement allowance.

Continue reading to learn some easy ways to give your existing commercial office space a more open-concept feel, plus who to trust in Central Indiana for superior commercial remodeling and TI work.

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Open Concept Tips for Commercial Offices

Looking for an easy and relatively quick way to transform your office into an open-concept floor layout? Perhaps one of these 3 options will suit your commercial remodeling needs!

Non-Load Bearing Walls

A commercial general contractor can point out which walls are load-bearing and which ones are not. The walls that are not load-bearing can be torn down in a strategic and artistic way to add more space to any room. Conjoining rooms by tearing down walls is an invasive remodeling project, but with professional assistance, it is generally easy and organized work.

It is important to use a professional commercial general contracting company in Indianapolis to tear down walls because they can accurately locate and work around gas pipes, electrical wires, load-bearing walls, and more. You want all your work to be up to code with the local municipality as well, which a licensed and certified commercial general contractor can guarantee.

Archways

If you are looking for a more open feel for your commercial office layout, but you dislike the idea of a full-o, invasive remodel, consider making small but stately adjustments, as these can make a big difference in appearance and fee, plus fit the budget nicely. Adding an archway above interior doors provides instant gratification because it gives off an illusion of more space. Additionally beneficial, construction for archways is pretty minimal and requires less drywall work and less labor time.

Accent Walls and Space Division

If construction, drywall work, and remodeling are nowhere near your budget, there are more cost-effective methods for creating the illusion of a more open floor plan for yourself and your staff. A popular, go-to interior design hack is to add an accent wall in certain areas of the office, particularly smaller, confined spaces or small rooms. This creates a feel of difference and division.

On the subject of floor plan division, dividing room space is another cost-effective interior design method that creates the feeling of more space. Try adding crown molding on the walls of one space to separate it from other areas of the office. This is inexpensive and does not take much time to install. All of these options can even be done on your own, which is even more cost-effective.

Are you looking for a qualified commercial general contractor to deliver a functional and appealing interior remodel within your TI allowance or office remodeling budget? Contact BAF Corporation at 317-253-0531 for superior commercial remodeling and tenant improvements in Indianapolis, Indiana. We serve clients all throughout the state.

What You Should Know About Signage Rights as a Commercial Tenant

Posted on November 8, 2021 by bafcorp20

Many in the industry would agree that branding is an essential, if not central, element to growing a successful business. One of the most effective and traditional methods of business branding is signage. Having the name and logo outside of your business is a valuable branding approach that influences potential consumers, plus retains the loyalty of your current clients.

But if you do not own your own building, your rights to signage may not be as clear cut as you would expect. As a commercial tenant interested in adding signage for your business, there are some important considerations you must keep in mind before signing a commercial lease or moving forward with signage procurement and installation.

Continue below to learn what you need to know about signage rights for commercial tenants.

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Commercial Tenant Signage Rights

If you are a new or potential commercial tenant, it is important to understand that signage rights are not guaranteed. There are some commercial landlords that do not permit signage on the outside of their building or marque, and others that only allow signage within strict design and color restrictions for the purpose of uniformity.

It is also common for commercial landlords to have preexisting agreements with other tenants that impose a restriction of some kind on new tenants’ rights to business signage. In some cases, it is not up to the commercial landlord at all, as local zoning laws can also prohibit signage, or the amount of signage on or around buildings.

Negotiating Business Signage With a Commercial Landlord

Because the rights and perimeters of business signage are more complex for commercial tenants, it is wise to always inquire about business signage before signing a commercial lease. As a commercial tenant, you may be able to negotiate your signage rights if the current lease does not offer what you are looking for.

If you are already in a commercial lease, you can wait until your lease is up for renewal, and then have signage rights added to the lease. It is vital to have your negotiated or amended signage rights spelled out in writing in your lease agreement.

Common Types of Business Signage Arrangements:

► Shared Building Signage

If a commercial building is shared by two tenants in equal ways, a landlord may agree to or permit a shared building signage system. With shared building signage, both commercial tenants can display their business signage on the building’s facade. This is a common signage arrangement in the commercial real estate industry.

► Exclusive Building Signage

In some cases, a commercial landlord will agree to give a tenant exclusive building signage rights. This means that commercial tenant is the only business displayed on the outside of the building. This signage arrangement is most common in commercial buildings that only have one tenant or space for one tenant.

► Exclusive Monument Signage

Many commercial buildings have monument signs on the outside of the parking lot or street. In such leases, it is common for landlords and tenants to adopt an exclusive monument signage arrangement. This would permit the tenant to display their business signage as a stand-alone sign or within the monument signage out front. This is most commonly reserved for key commercial tenants.

Are you looking for a trusted commercial general contractor to help you plan out your upcoming business move or redesign? Contact BAF Corporation at 317-253-0531 for superior commercial general contracting services in Indianapolis, Indiana.We serve commercial and industrial clients all throughout the state.

General Contractor Advice on Building a New Commercial Space

Posted on November 5, 2021 by bafcorp20

Are you an ambitious real estate developer preparing to construct a new commercial space here in Indiana? Before getting started on your promising entrepreneurial endeavor, continue reading for some critical general contractor advice on building a new commercial space, including who to trust for superior commercial construction services near you.

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Top Factors for Constructing a New Commercial Building

The top five elements you should be placing your focus on right now in preparation for a build-out or new construction project are as follows: your budget, your potential space, references for commercial general contracting company, a written commercial construction estimate, and relevant municipality requirements or regulations.

Budgeting

Budget is the foundation for your commercial build. Your budget analysis and planning will set the tone for your commercial construction project. You must consider your overall vision. Do you have enough capital to make your vision come to life? It is important to be pragmatic when setting a budget for your commercial construction or build-out.

If leasing an existing commercial space, you want to consider mandatory or hidden costs prior to signing the commercial lease, as well as any future expenses you might incur. A professional commercial general contracting company can assist you with comprehensive budget analysis and cost foreseeability evaluations to ensure that your vision and available capital lineup.

Commercial Space Planning

Your next focus is commercial space planning. Building from the ground up will have a separate set of considerations compared to leasing an existing commercial space and building it out to retrofit your business’s needs. Either way, it is important to ensure that your space will be structured and designed specifically to meet the needs of your businesses function and overall culture.

Your trusted commercial general contractor can ensure that your new commercial space is both functional and culturally sincere, while also flexible for future expansions. In fact, commercial space planning and permitting are often a prime service offered by construction companies.

General Contractor References

As you might already understand, the commercial construction company you choose will have a significant impact on the outcome of your project. For this reason, it is vital to ensure you are choosing a superior commercial general contracting company to build your new commercial space or retrofit an existing one. One way you can ensure you are choosing the right company is to request general contractor references. References help you understand a contractor’s scope of capabilities and professionalism.

Written Construction Estimates

It is important to always request and receive a comprehensive and itemized written estimate from your commercial general contractor. As we all know, having things in writing is the best way to maintain an equal and transparent understanding between two parties in a contract. One way you can tell you were working with a true professional in the industry is if they offer detailed written estimates, require itemized written estimates from subcontractors, and have no problem examining all estimates line by line with you.

Municipality Requirements

All municipalities have commercial construction requirements, building code standards, permitting laws, and similar regulations. A good commercial construction company will have the knowledge and resources to confirm these requirements prior to breaking ground on any type of project, whether a new construction build or commercial build-out.

Furthermore, most municipalities will require detailed written plans and architectural drawings before any construction can take place. Reputable commercial general contractors and construction companies will prepare these blueprints ahead of time, which allows them to provide more accurate estimates.

Are you looking for a professional commercial construction company in Indiana to get you started with a new build or build-out? Contact BAF Corporation at 317-253-0531 for superior commercial general contracting services in Indianapolis, Indiana.We serve commercial and industrial clients all throughout the state.