Thursday, March 31, 2016

What Are You Looking For In Great Commercial Real Estate? Some General Advice

Commercial property is divided into three different use categories: offices, retail and industrial. Offices tend to be the lowest yielding for commercial real estate investors. This is because office tenants tend to stay in their premises longer than retail or industrial tenants. Yields on industrial property tend to be a little more volatile, thanks to the ups and downs in the sector. And retail tenants often don't stay for as long as you'd like.
Knowing when to buy, and when not to buy, commercial real estate can be difficult. So let's have a look at some of the factors that filter into making a great deal.
Build Quality
When looking for a great office space, be aware of build quality. Office tenants often want aesthetically pleasing premises. They want places that broadcast their desired company image. As such, look for quality panelling, like those made by Centria Panels. Usually, high-quality panels have the dual purpose of retaining heat and making the building more robust.
Appearance
When choosing an office to buy, ensure that the offices have ample access to natural light. As businesses become more aware of the importance of a healthy workforce, they are starting to demand that offices let in sunlight.
It's also important for offices to have a quality entrance. That's because businesses themselves value making good first impressions. When a client enters their office, they want to wow them with the magnificence of their entrance. That's why it's so important to keep an eye open for any offices that naturally lend themselves to making a great first impression.
Location
For retail location is paramount. Yes, appearance is important as well, but retailers will usually transform premises using their own design scheme. Fundamentally, what they're looking for is the right amount of space in the right location.
A great retail space will be in an existing shopping district. Local shopping is on the decline at the moment, so if you are looking to buy commercial real estate off the beaten track, make sure you pay a lower price.
If you're buying a retail unit in a shopping centre, remember that the value of that unit should be based on its proximity to the anchor tenant. The anchor tenant is the tenant in the shopping centre that occupies the most space. Buying a unit as close as you can to the anchor tenant ensures that you'll be getting the most footfall possible.
Although the location is not as important for offices as it is for retail, offices have still traditionally clustered. Great office real estate should be right next to other offices. That's because office-based businesses often do business with other office-based businesses. It's why you often see law firms all clustered together right in the middle of town.
Layout
When buying industrial property, pay considerable attention to the layout. Good industrial properties have excellent access to transport links and large spaces to allow vehicles to turn.
And lastly, there should be a separate space for amenities like a toilet and kitchen.


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