Vital Corporate Real Estate Leasing Tips for 2020

Posted on August 24, 2020 by bafcorp20

As a corporate company, whether just starting out or long-time established, one of the most critical decisions you will make will be renting office space. Not only are there several corporate real estate renting mistakes that can drastically impede the success of your company, office leasing is usually one of the highest expenses as well. For these reasons and more, it is important to do your research before finalizing any office space leases as a corporate tenant.

Continue reading to learn some of the top corporate real estate leasing tips you should consider and discuss with your commercial space planning and permitting consultants.

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When it is your duty to find a new location for your corporate office, be sure to keep these cost-saving tips in mind:

✅ See the Unit in Person

Especially with the current epidemic underway, many commercial brokers are doing business online. As a result, it is becoming more common for commercial proprietors to sign a lease for office space they have never actually seen in person. Although this is deemed acceptable by a large market of tenants, it can be a devastating mistake. Always view and tour a potential office space on-site, not just over the phone or via online listing.

✅ Rent the Right Amount of Space

When it comes to finding an office space, consider the Goldilocks rule. You want the right amount of space that is neither too small and nor too big. Not only can the wrong amount of office space hurt you financially, both short and long-term, it can also cause additionally risk to various aspects of running a business, such as accident liability, building codes, and more.

✅ Do Not Focus Solely on Cost

There is a lot more to renting office space responsibly than just your budget. By leading your search on a budget-focused agenda, you could be putting yourself at a disadvantage. Although budget is an important standard, there are other factors can determine the value of an office space, such as amenities, price per square foot, surrounding community traffic, and more.

✅ Probe the Surrounding Community

On the topic of the surrounding community, be sure to set your sights on other factors that influence an office space other than the actual location. Not only should you be looking at the office space in person, you should also be looking at the surrounding area. You will want to consider the average commercial rental rates, average annual income among residents, crime statistics, nearby businesses, neighboring competitors, and more.

✅ Read the Fine Print in Full

When it comes to leasing a new corporate office space, one of the most vital tasks is to read the contract in full. Commercial leases are much more complex, and require acute attention to detail and fine print. You will want to understand lease clauses, key dates and deadlines, tenant improvement allowances, and more. You should also hire a commercial real estate lawyer to translate any confusing parts of the lease to you.

Commercial Real Estate Space Planning and Permitting in Indianapolis, Indiana

Contact BAF Corporation at 317-253-0531 for trusted commercial space planning and permitting services in Indianapolis, Indiana and its surrounding locations. Our expert space planning and design teams ensure all aspects of your commercial construction and post-occupancy business objectives are met in an ordered fashion, on time, and within budget. We serve all corporate, commercial, and industrial industries in Indianapolis, Indiana and its surrounding districts. Call today to request free information or to schedule a consultation.

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Top Factors to Consider When Planning Your Commercial Space

Posted on June 1, 2020 by bafcorp20

As a business owner looking to renovate or build a new location, professional space planning should be at the top of your to-do list for getting started. It is an important part of ensuring your needs are fully met, and that your overall business objectives are feasible. Whether you are relocating your business, opening a new one, or looking to renovate your existing property, a professional space planning and design team is your all-inclusive solution to ensuring success.

However, deciding to hire a professional commercial construction company for space planning services is just the beginning. Continue reading to learn the top factors you will need to consider when planning your commercial space.

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Commercial Space Planning Professionals

The primary job of an architect and commercial space planning team is to bring your vision to life by thoughtfully transforming or creating a space that truly speaks to your business’s culture, while also supporting employee satisfaction, efficiency, function, and cost control. They do this by applying modern design solutions and strategies, including a concentrated approach to define and organize all elements of a commercial design-build project.

They also meticulously consider all other details, from owners’ priorities and business objectives, to economic incentive studies, constructability reviews, zoning and permit applications, building codes, disability access requirements, security, circulation patterns, daily function and workflow, privacy, and much more.

Space Planning Factors to Think About:

☑ Organization’s Goals – What are the goals for your commercial remodel or build? Are you looking to enhance employee contentment or engagement? Are you wanting to improve staff health? Or perhaps you wish to incorporate a more collaborative environment? Be sure to consider your short and long-term goals for your business when planning your space.

☑ Day to Day Activity – Consider the type of staff and guest activity that occurs on a daily basis. Are your employees sitting at desks all day? Are they working in groups or in solitary? Perhaps your employees are doing a combination of both? When planning your space, think about what kinds of interior designs will accommodate or enhance the type of daily operations for your industry.

☑ Ergonomics – On the topic of daily activity, if your business is one in which staff or clients are sitting for extended periods of time, you may want to consider incorporating modern ergonomic designs into the office setting. Such ideas include ergonomically-friendly couches, chairs, and benches. Other ideas include desks that adjust for sitting or standing, or changing the location of trash receptacles to promote more movement among employees throughout the day.

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Factors to Consider Before Signing a Commercial Office Lease

Posted on March 17, 2020 by bafcorp20

Moving into a new commercial space is a serious undertaking. There are several complex steps to complete in order to get your business back to fully-operating at peak performance following a relocation. But first you must sign a new lease. Before you do so, there are various considerations to apply to your decision in order to protect yourself from entering into a contract you later regret.

Continue reading to learn which factors should be at the forefront of your mind when discussing a new commercial real estate lease prior to signing.

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General Commercial Lease Inquiries

With all new commercial real estate leases, there are basic questions that you must ask. These answers will give you the foundation of knowledge you need to decide whether or not to move forward with the lease agreement. Such questions include the following:

What is the Type of Lease Offered? There are different types of lease agreements for commercial properties, including net leases, gross leases, triple nets, and absolute triple nets.

What are the Terms and Conditions? You must read through all terms and conditions, and derive questions pertinent to your overall objectives and limitations.

Is the Lease Negotiable? Most often, lease agreements are flexible, and landlords will negotiate certain elements in the lease’s terms and conditions.

Will Rent Increase? Rent escalation is common in commercial real estate, like stepped increases that periodically increase in fixed amounts, or increases tied to Consumer Price Index.

Can You Sublease? Long-term leases might contain a subleasing and assignment clause that allows you to lease out all or a portion of your space to another tenant in the future.

Comprehensive Facility Touring

Always be sure to tour the facility as thoroughly as possible before signing a lease. You want your potential commercial space to have an inviting and functional atmosphere. When taking your tours, be sure to focus your attention on cleanliness, attractiveness, curb appeal, practicality, degree of remodeling or renovation needed, and amenities available, like parking, cafeterias, bathrooms, break rooms, lobbies, and more.

Neighboring Properties

Before entering in a legal contract that binds you to a commercial office space, it is wise to first check out your future neighbors. Consider the local businesses and buildings surrounding your potential space, including the actual proprietors and contemporaries you will likely encounter on a regular basis. This could easily thwart your interest in a new commercial space. For instance, if your business is a Zen spa, you wouldn’t want to lease a space directly below a dance studio or next door to a drum store.

Renewal Processes

It is wise to ask about the lease renewal process before making any agreements. Inquire about the terms and conditions of renewing or terminating the lease. In some cases, a tenant is required to notify the landlord within a certain time period that they wish to remain in a lease, while others do not. Communication guidelines and requirements for commercial leases vary from landlord to landlord. So, always be sure you fully understand your role when it comes time to renew or terminate your commercial lease.

Leasehold Improvements and Maintenance

Another important topic of discussion to cover prior to signing a new commercial lease are leasehold improvements. This includes facility maintenance. Questions to ask include, “Are you allowed to modify the space to meet your business’s needs?”, “Is the landlord willing to make tenant improvements before you move in?”, “Is the tenant improvement allowance enough?”, and “Is a maintenance program included in your lease?”

Professional Commercial Space Planning in Indianapolis

Call BAF Corporation at 317-253-0531 to learn more about planning a new commercial space for your business. We provide full-service commercial space planning and permitting services in Indianapolis, and throughout Central Indiana for all businesses and industries. Whether you’ve already moved into a new space or still searching for one, our commercial construction management team has what it takes to meet your unique specifications. Call our office today to discuss your commercial space planning and tenant improvement needs, today.