Article Submitted by Wayne Teig, Principal, ITRA Global l Minneapolis-St. Paul While all leases are different, there are some things that a space occupiers should always consider before signing that next lease. Our top five are below:Retain an experienced, tenant-only real estate advisor. In addition to potentially saving your company ...
November 11, 2021Lynn Drake
You will need a commercial agent, an attorney, a banker, an inspector, and possibly someone who handles construction. If you are going to hire a commercial agent, do some research on who to hire. Most people think that every licensed real estate agent has the same experience, but that simply isn’t ...
February 12, 2019Lynn Drake
The first step is to do some soul searching. Is it better to lease or buy a building? Is your business still growing? If so, how much time do you have until your team outgrows the building. What is the cost to lease versus the cost to buy a building?
January 24, 2019Lynn Drake
Wondering how much office space you really need?They say, “Time is Money” - but in commercial real estate, Space is Money, too. Our Space Calculator helps you understand how much space you really do (or don’t) need.https://www.compass-commercial.com/space-calculator/
March 23, 2018Lynn Drake
Rent is defined as “consideration paid for the occupancy and use of real property.” This is a general term covering any consideration, not just money.
January 19, 2018Lynn Drake
I often see mistakes businesses make when leasing commercial real estate. Throughout 2018 I’ll share with you some things that are easily correctable, and others that have costly consequences. I learned a valuable lesson a few years ago, when I had my furniture vendor make the furniture for our offices. ...
January 17, 2018Lynn Drake
Do You Speak Lease available online through TrueNorthPublishing.US
January 12, 2018Lynn Drake
You know that holiday song? It’s a tune every tenant should be singing – twice a year.That’s right—Every tenant should check their lease expiration date twice, and make sure to start their search at least a year in advance.Wondering why? Isn't a year a bit over the top? If you’re ...
December 20, 2017Lynn Drake
While the owner of a startup company may be reluctant to take on a long-term lease, it might pay to think about what that actually means in practical terms. Here are two things to consider right from the start:It could take three to six months, at least, to find ...
December 5, 2017Lynn Drake
Ever feel like you're boxing in the dark when you're trying to figure out the real costs of the office space you rent?Because different types of real estate charge differently for space, it can be a challenge!Generally, retail or industrial buildings charge a base rent plus taxes, maintenance, and utilities. ...
November 30, 2017Lynn Drake