When starting a new business or moving an existing company, it is essential to uncover the perfect commercial property. Sorting through properties for lease can be both challenging and time consuming, so it is important to understand how to rate each potential space. Here are five things to consider before leasing a property for your business in Acadiana:
1. Check the Specs
The size and building arrangement will have a big impact on a leasing decision. In the beginning, it is essential to keep the space as reasonable as possible. However, it is important to think long-term as well. When a business knows it will quickly expand, finding a space that can allow for growth is essential.
In addition to the site’s layout, be sure to take parking space into account when choosing a location. If your business has a large staff or expects frequent visits from customers and clients, it is vital to make sure adequate parking space is available.
2. Building Age
The age of a building may be a determining factor when choosing a property. Older structures often come with outdated HVAC units or other appliances that will need repairs or replacements. Certain buildings do not contain necessary ductwork for central air conditioning, which can be troublesome when the outside temperatures reach Louisiana summertime highs.
3. Curb Appeal
Depending on the nature of a business, exterior physical appearance may be very important. Most retailers will want a commercial space that appeals to consumers and welcomes them to visit often. If the outside requires work or does not look aesthetically pleasing, it may be better suited for a supplier or industrial-based company.
4. Location, Location, Location
A property’s neighborhood is important. Certain businesses act as anchors for the area, so it is best to choose a space that is surrounded by similar industries. A retail operation may wish to find a space that receives a high volume of foot traffic. A company that requires a large amount of deliveries or collections will need easy access to loading facilities.
Also, it is wise to consider the immediate neighbors. For instance, opening a chic fashion boutique beside a bar may not be a wise decision. At certain times, loud music or rowdy clientele may clash with the image of the upscale clothing retailer. On the other hand, these same “nuisances” may add to the atmosphere of a niche restaurant or bar. Select a location that will best complement your business.
5. Security and Peace of Mind
Everyone wants to feel safe, so a business owner must provide security to his or her staff and customers. Before signing a lease, it is smart to examine the police records for the area. In high crime locations, it may be necessary to amp up security measures by placing bars on the windows, guards in the showroom, and advanced surveillance systems around the premises, but these things can get costly.
If you are looking to lease a space for your business, contact Jennifer Whitmore, Vice President of Real Estate Operations at Billeaud Companies. With over 26 years of experience in real estate leasing, she will be able to quickly analyze your individual needs and provide the perfect home for your company.