Choosing the right real estate space for your commercial business can be a make or break moment. You ideally want to set up shop in a consumer-friendly area with good visibility, heavy foot traffic, and room for expansion. However, such prime locations may seem beyond your budget or simply out of view. If you are struggling to find an optimum location and do not know where to look, follow these steps toward securing the right lease space for your retail business.

1. Take a Critical Look at Your Business

To find a prime piece of real estate for your enterprise, you must first understand what your venture is and how it operates. Examine how much space is needed to comfortably house your operation and think about your possibilities for expansion in the coming years.

2. Understand the Effects of Location

Another aspect that many outside the real estate field overlook is the effect the property’s location can have on a business. Not only can the location build up a business’ potential, but in some cases it can become a liability. When weighing potential retail spaces, you should consider:

• Traffic counts
• Visibility and accessibility
• Local crime statistics
• Whether there is a strong anchor tenant that draws customers in, like a Publix
• Population density
• Per capita incomes of local customers in the area
• The quality of neighboring tenants

A commercial real estate broker will take every location aspect into consideration so you don’t have to.

3. Be Cautious and Informed About Leases

When it is time to begin the actual search for properties, the worst thing you can do is start out on your own. That is because it is very easy to get carried away if you should happen upon an ideal location that is ready and waiting for a new tenant. Before jumping headfirst and signing into a lease on an available dream property, you should first consider the following details.

• The Cost – In addition to factoring current down payments and loan considerations, you should also do an in-depth accounting of possible budgets for years to come to ensure you will stay in the black.
• The Fine Print – One of the most crucial details to examine on a commercial lease is the fine print which outlines everything a business owner is and is not required to do during their time on the property.
• Maintenance Responsibilities – Understand up front what your responsibilities include for both the internal and external parts of the structure and what limitations there are on anything and everything you could encounter on site.

Remember, nothing is ever finalized until that lease is signed. Therefore, if you have issue with any lease agreement items that are non-negotiable, speak up or have an expert speak up for you.

4. Consult With an Expert

The real estate brokers at Acquisition Consultants are proven experts in the field and know the pitfalls of lease agreements. By consulting with our experts before you begin your search, you will save time and effort on researching and visiting listings that would ultimately not be the right selection for you. When you present our brokers with your list of unique needs that includes price, size, location and any special considerations, we will narrow down the field of real estate options to your best possible choices.

Once you weigh the options and select a space that best suits your business’ needs, our real estate professionals will negotiate the terms in your best interest and make sure they continue being served long after the negotiations are over. To secure the right lease space for your business, contact Acquisition Consultants today.