So you are looking to either open up a new location or move from a previous one. Before making any big jumps, it is important to make sure that your new retail location and space will meet, and hopefully exceed, all of your business needs. It can help to take a step back and look at the move from a strategic standpoint to make sure that your new space aligns with your business goals. Here are some big picture considerations when it comes to commercial real estate for retail locations.
Location, Location, Location
You’ve heard that the three most important factors in retail are location, location and location. This one aspect of your new retail space could make the world of difference in the success or failure of your business. Take time to align your business, industry, and customers and know where your business stands the best chance.
The Future
Keep in mind, that if you are attempting to grow the business over time, it would be very beneficial to move to a location that can grow with your business. If you move into a small retail store and you can’t easily expand your customer base grows, you may miss opportunities.
Where is the Competition?
Competition studies can help you determine the best location for your retail business. Where are they located, and secondly in what specific areas do they prosper and where are they struggling. It only makes sense to gather this information and use your competitor’s mistakes and successes to your advantage.
These three items are very important to the success of your business after the big move. If you have questions about locations or are in need of a Boise commercial property, contact us today!
Posted on 3/27/2012 10:05 AM By Kelsey Bates
If you are considering moving into a new office space, there are a few things you will want to consider before doing so. The office of a business can say a lot about the values, quality and image of a company so be sure to make informed decisions about the move. Here are a few things to deeply consider before making any serious moves.
Firstly, you will want to review your business operations and what the requirements are for the new space. These requirements typically include the amount of space needed, the layout of the office, whether the office has ample access to utilities and a few other considerations.
Next, figure out how you want to move the office. Do you want to move all at once or move in a more step-by-step formation? The type of business you run and its specific requirements will impact how you decide to move.
Lastly, find a broker that will be able to assist you. Brokers are typically able to save the client a significant amount of money because they are able to negotiate preferable terms for your rent or purchase.
These considerations must all be thought through and acted on properly to have the best office acquisition for your business. If you have any questions about commercial real estate or want more information, call us today!
Posted on 3/12/2012 10:00 AM By Kelsey Bates
This year is already starting off with a number of promising indicators that show 2012 should be a promising year for commercial real estate. The primary indicator for this is that REIT values are off to a great start in the month of January.
REIT stands for the real estate investment trust, and it is a tax designation for corporate entities investing in real estate. This designation exists to reduce or eliminate corporate tax by distributing 90% of their taxable income into the hands of investors. REIT is structured very similarly to mutual funds and the way they provide for investment in stocks. The Dow Jones US Real Estate ETF (NYSE:IYR) are up to a recent high point of $60.78. This is up almost $14 from as recently as October of 2011.
This year should prove to be a great one for commercial real estate. If you would like to learn more about how we can help you find the perfect commercial property, please contact us today!
Posted on 2/15/2012 2:55 PM By Kelsey Bates
When a tenant is leasing a new commercial property it is important to understand how square feet is determined when measuring the space of a property. In the case of a single building with one rentable space, the building is measured from corner to corner based upon the exterior measurements.
For multi-tenant buildings this process is a bit different. When calculating space for a multi-tenant establishment the space is measured in a similar way, however walls are considered shared between those who share the space. This means that ½ of the space of the wall is allocated to each side.
While this distinction does not make a huge difference, it is very important for those looking to purchase or lease commercial real estate to understand how space is measured. It is important to know how much space you need in your new office before signing the papers. This will help you ensure that you get the exact space that you have been searching for.
Contact us today to learn more about how you can find the perfect commercial real estate with Thornton Oliver Keller!
Posted on 2/15/2012 2:55 PM By Kelsey Bates
For those who are looking to invest in commercial real estate during this recession, there are a number of important things to keep in mind to ensure that you are getting the most out of your investment and are completely protected. Now, more than ever, it is vital that you take the proper steps to make sure that your investment is not only a sound one, but also becomes a profitable one.
- Investigate Before Purchasing: Being thorough with the real estate you are seriously considering purchasing is a great idea. You don’t want to miss out on any glaring problems and you also want to make sure it meets all of your needs.
- Don’t Skimp on the Contract: Having a thorough contract, while a more complex process than utilizing a simple contract, protects the purchaser in case something isn’t quite how you thought. It is better to be safe than sorry and the little extra work and effort goes a long way in protecting your large investment.
- Be Prepared to Close: As the time to close draws near you should be ready for everything that may come up. Make sure that you are ready to close and have everything on your end lined up.
For more information on how you can find the perfect piece of commercial real estate with Thornton Oliver Keller, please contact us today!
Posted on 2/15/2012 2:55 PM By Kelsey Bates
The commercial real estate market has been making slow progress back towards the market that we remember. Many individuals are waiting to see the market return to normalcy to jump back in. However, there are many benefits to getting into the commercial real estate market in its current condition, especially for those looking to take advantage of a new idea.
Here are some of the best advantages of the market today:
- Reduced Competition: Those looking to take advantage of reduced competition can gain significant ground and begin to see quick growth with their business.
- Value of Real Estate: Individuals are still receiving great deals on commercial properties. If you have the money to spend, now is absolutely the time to look into buying.
- Long Term Gains: By combining low competition with low costs for facilities and other amenities, it is easier than ever to regain your initial investment and operational costs.
Contact us to learn more about how we can help you find the commercial property of your dreams and get into the commercial real estate market today!
Posted on 12/13/2011 9:51 AM By Kelsey Bates
Finding the perfect office space for your business can be difficult. With the market in its current state, you are more likely to have a bit more freedom with available options within your budget. However, that does not mean that the search will always be easy. There are a number of things that you must keep an eye out when searching for your new office space to ensure that you are able to find the perfect space for your needs.
- Leasing Too Much or Too Little Space: Knowing the needs of your organization are extremely important when searching for new property. Assessing exactly how much space you need and accounting for growth within your organization will allow you to find the best space available that meets your needs.
- Seeking Too Short of a Lease: Finding extremely short or month to month leases may seem like they give you the necessary freedom you desire, however they can actually hinder your progress as a company. While short leases offer flexibility, you are paying for that freedom. Longer leases tend to mean more affordable prices.
- Choosing The Wrong Location for Your Business: Location is key to the success of business. Shop around to ensure that you find the perfect location for your new office!
Thornton Oliver Keller can help you discover the best listings available in the area and find the best location for the best deal! Contact us today to learn more about how we can help you find the perfect location for your new business!
Posted on 12/13/2011 9:51 AM By Kelsey Bates
Discovering the right broker for your needs can be quite a process. You want to make sure that the commercial real estate broker you choose has the right experience, expertise and drive to accomplish your goals as a client. There are many factors that play into discovering the right commercial real estate broker, and we have outlined some of the most important factors below.
- Negotiation – Finding a commercial real estate broker that is a skilled negotiator is vital to not only finding the right buyer or seller, but also getting the best deal possible.
- Teamwork – Make sure that your broker's interests are aligned with yours, and that they are willing to work with you to find the best property and the best deal for your needs.
- Body of Work – Explore the firms body of work and look for customer reviews and testimonials from previous clients. This will give you a great idea of their previous body of work, and what you can expect.
Contact us today to learn more about Thornton Oliver Keller and how we can help you find the perfect commercial real estate for your needs!
Posted on 11/14/2011 2:52 PM By Kelsey Bates
After many years of discussions and failed attempts to fill the hole at 8th and Main in downtown Boise, a resolution has been found that will fill the hole and remove the controversy that surrounds the project. The downtown Boise hole has been considered once of the biggest eyesores in the downtown area, and has been vacant since 1987 when the Eastman building was demolished.
At long last, a developer has been found to fix this blemish. Zion's bank, and developer the Gardner Co. are taking the task into their own hands. This new building will be entirely commercial spaces, with retail, parking and office spaces occupy the area. Once the building is complete, Zion's bank will be moving their headquarters into the space.
We are excited to see how this project pans out, and it may end one of the largest controversies in downtown Boise. Contact us if you would like to learn more about how we can help you find the perfect piece of commercial real estate for your needs!
Posted on 11/14/2011 2:52 PM By Kelsey Bates
In today's economy, it is very important that you have the right tools at your disposal so you get the right property and the best deal possible when it comes to commercial real estate. Those looking to buy or sell property need a business on their side that will understand their needs, and that will negotiate the best prices and discover the best properties and buyers available. It is important to realize how a commercial real estate broker can help you, and what to expect when it comes to buying/selling commercial real estate.
Traditionally, most commercial real estate companies will seek between a 5%-15% fee of the gross income of the property per month when they are helping you sell your property. This is a very reasonable range, and you will not find many that fall outside of it. It is in your best interest to get the best deal possible, whether you are buying or selling commercial real estate. A commercial real estate broker will work with you, and fulfil your needs as one seeking to purchase or sell commercial real estate. They utilize the tools at their disposal to make sure your needs as a client are fulfilled.
If you would like to learn more about how we can help you get the best deals in commercial real estate, please contact us today!
Posted on 11/14/2011 2:52 PM By Kelsey Bates