Touring commercial real estate takes time. On a typical tour your team may view up to 8 properties. To help you prepare for the tour, your commercial real estate broker should provide information on each property toured in advance of the tour. Encourage each team member to view that information in advance if possible. The following are some guidelines four ensuring that your tour is productive:
- Include Your Entire Team on the Tour. It is advisable to have all of your project team members present (and, if possible all decision makers). Without the feedback of all team members, you may become interested in spaces that ultimately will not work out.
- Be Prepared. Prepare your questions about the space(s) and research everything you can before physically touring the building. You should be clear on exactly which issues and factors in a space are priorities and which are negotiable.
- Be Neutral. Enthusiasm and excitement for the space can ruin any advantage you may have during negotiations. Asking questions regarding the space and its suitability for the company’s requirements are good but save the discussion about whether or not it is an ideal location until after you have left the building. You should however make it clear to the landlord or leasing agent that you are looking at a number of buildings and locations. Just don’t tell them which ones!
- Don’t rush the process. Take time at each individual space and take notes and pictures. It can be difficult to distinguish properties after the fact without good notes.
- Ask about the tenant mix. Review the building directory to determine if there are competitors that you do not want in your building or other undesirable tenants. Also make note of tenants that could be complimentary.
- Visit the bathrooms and ride the elevators.
- Check parking. Does there appear to be enough? Is ingress and egress a problem? You may want to return during rush hour.
- Evaluate Security. Ask about card key entry and whether or not there is security on site. Are there security cameras?
- Ask about Signage. Is exterior signage available? Find out what is included for free and what if any; expense will be incurred for exterior signage.
- Heating, Ventilation and Air Conditioning. Find out the building standard hours for HVAC. If you will need HVAC in addition to those hours, ask about charges for after-hours services.
- Covid 19 Related Precautions. Ask what precautions the landlord has taken to minimize the risks of Covid 19. For example, has the landlord upgraded air flow in the building and installed ultraviolet filters? Are there touchless options for moving through the building? Are there enhanced cleaning protocols?
At Mobiliti CRE we focus 100% on representing tenants with relocations, expansions, contractions, and subleases throughout Tampa Bay and the entire West Coast of Florida. We also assist businesses that are looking to purchase office, medical office, industrial, and retail space. Reach out to us for assistance with all of your commercial real estate needs at (813)-300-2227 or email us at pam@mobiliticre.com