Things to check when inspecting a potential space.Finding the right property in residential real estate is a little easier than in commercial real estate. For one thing, many commercial properties are not listed in the multiple listing service. This makes it difficult to actually see everything out there without talking with a lot of realtors. It makes sense for most to enlist en·list v. en·list·ed, en·list·ing, en·lists v.tr. 1. To engage (persons or a person) for service in the armed forces. 2. To engage the support or cooperation of. v. the services of a buyer's agent to help you find everything that is available. Agent commissions in commercial real estate are much more negotiable NEGOTIABLE. That which is capable of being transferred by assignment; a thing, the title to which may be transferred by a sale and indorsement or delivery. 2. than in residential real estate. They'll they'll Contraction of they will. they'll will also be able to help you determine the properties that are zoned for the type of business you're you're Contraction of you are. you're you are you're be in, parking space requirements, advertising regulations, etc. Classes of Office Space Office space is divided into three classes--Class A, Class B, and Class C. The classes are just what they imply, that is higher quality at the A end and lower quality at the C end. The classes are based on the age of the building, the type of construction, the location, the amount of renovation, and the amenities that the building provides. You may also run across what is now being referred to as Class E Office Space in some cities. These are old buildings class g buildings that are being considerably renovated to become spaces with a totally different look. They usually have very high ceilings, lots of large windows, and lots of wood. They seem to appeal to the high tech and dot-com (1) Refers to the period (dot) followed by the abbreviation of the commercial domain (.com) at the end of an Internet address. Since the .com domain is so widely used, the Internet became known as the "dot-com" world, and dot-com companies are those formed to offer services or groups. (Hence the "E" designation.) The dollars per square foot will vary quite a bit from one class to the next, so consider the amenities, location, as well as the "look" you need before starting your search. See as many spaces as you can, and pull out the list you created earlier in the planning process. Make sure you have prioritized the features that are most important to you and your business, and give them the most consideration when looking over the properties. Don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. let yourself be blinded by one spectacular feature in a property when some of the other equally important features are less spectacular than what you need. You can even create a scoring system Noun 1. scoring system - a system of classifying according to quality or merit or amount rating system classification system - a system for classifying things to help you compare each property equally. Regardless, of the system you use, take notes about the plusses and minuses of each site, and take photos to help keep them straight in your head. Visit the sites on your short list often and at different times of the day to observe the changes in traffic, noise, and other potential problems. Don't let your emotions rule your decision! Don't forget to also investigate "build-to-lease" options also called "build-to-suit leases." If you find the right developer you can tailor A tailor is a person whose occupation is to sew menswear style jackets and the skirts or trousers that go with them. Although the term dates to the thirteenth century, tailor the space to your needs and then lease it. This option will require a lot of work on your part to make sure you're getting the quality and structure that will suit your needs. Keep in mind too, that the developer you work with will probably not own the building for the length of your lease. Inspect the Property So you've found a good spot--you think. You like the location. It's passed all of the tests so far. So what else do you have to look at before you sign on the dotted line? Here are some things to make sure are on your list of questions. First of all, how old is the building? With age can come problems and difficulties in incorporating new technologies. Are there structural problems? Talk with other tenants and see if they've had any problems either with the building itself, or even with the landlord. Does the roof leak (programming) leak - With a qualifier, one of a class of resource-management bugs that occur when resources are not freed properly after operations on them are finished, so they effectively disappear (leak out). This leads to eventual exhaustion as new allocation requests come in. ? How old are the HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems? Will you be dealing with periods of no air in the summer and no heat in the winter? Is it wired for computer networks, internet access See how to access the Internet. , or other electronic items? If not, will you have difficulty wiring it because of the types of wall materials or ceiling? Is there adequate security? Security features can include: * steel security doors * security gates that fold out of the way during office hours office hours, n.pl See business hours. * alarm systems that can be monitored by a security firm or the local police department * video cameras to watch entrances and exits * bullet-proof glass * fenced parking * external lighting all around the building * security guards If you're buying the property you need to dig even deeper. Sometimes literally! For instance, you may need to do a Phase 1, 2, or 3 site assessment to make sure there is no environmental contamination that you will be dealing with. Sometimes the lending institute you are getting your loan from will require it. So what do these assessments entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary ? A Phase 1 assessment involves reviewing the past uses of the land, and government environment records concerning the property, and a simple observation of the property. If this first assessment shows up any potential contaminations or problems then a Phase 2 assessment is needed. Phase 2 involves air, water, and soil samples. The third type of assessment, sometimes referred to as a Transaction Assessment, only takes into account the use you are proposing for the site. It does not take into account any past uses or problems. This is the assessment you would need if the site has previously passed a Phase 1 assessment and had no problems. It is also recommended by most in the real estate profession that any property, whether it is being leased or purchased, be inspected by a professional inspection firm. Tim Russell Tim Russell (born 1947) is a radio announcer and voice actor (AFTRA/SAG) in Minneapolis and St. Paul, Minnesota. He is “Entertainment Editor” in the early morning hours at WCCO-AM radio and one of the actors on Garrison Keillor's radio show, A Prairie Home Companion. is a freelance writer. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion