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10 steps when choosing commercial real estate -- Part I

Buyers in South Florida who are in the market for commercial property can range from small startup businesses to huge international conglomerates. They can be in the market for retail space, office buildings, warehouses or industrial property. In many cases, buyers of commercial real estate will probably want to make sure that they take certain steps to ensure that they find the right piece of property and get the best deal. Here, in Part I of a two-part series, we will begin to look at the 10 steps buyers will want to keep in mind when choosing and purchasing commercial real estate.

First, buyers will want to be prepared when they visit a location, which means that they may want to bring a camera or a laptop in order to sketch out how the available space could be used for the intended business purpose. It can also be helpful to take measurements of the property. Be prepared to evaluate the space from the standpoint of an actual occupant.

Next, buyers will want to carefully examine the overall condition of the property, as well as the surrounding properties. Businesses will want to ensure that the real estate, and the surroundings, are appealing to potential customers or those who will be provided the service the business offers. Another part of this evaluation is to make sure that the location of the property is conveniently accessible for customers and possibly even employees.

The next step will be to find potential defects with the property and determine whether or not those defects can be corrected, or if they are deal-breakers. Next, security concerns will need to be addressed, whether that includes assessments of lighting in the parking area or if private security needs to be on hand to protect the business inventory and assets. Part II will continue to examine some of the important steps that should be a part of choosing commercial real estate.

Source: FindLaw, "How to Find Commercial Space - the Top Ten Things You Should Do," Accessed Feb. 13, 2016

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