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Top Strategies for Marketing Commercial Real Estate

October 13, 2023

Ready to Lease or Sell?

Whether you are getting ready to lease or sell a piece of commercial real estate, having a top-notch market strategy is essential.

Online platforms mean that buyers and renters have access to massive amounts of real estate information in the palm of their hands. When you are in a position to lease or sell commercial space, you need to be sure your property stands out among the rest.

Commercial Real Estate Marketing Strategies

The following commercial real estate marketing strategies will help you find the right buyer or tenant in no time.

Know Your Audience: If you don’t know who you want to market to, it will be challenging to get the word out. Knowing your target demographic helps narrow your focus and lets your advertising connect more effectively.
Understand the Value Proposition: What do you and your property have to offer? It is vital to know your value proposition and how to present it to potential buyers or tenants.
Showcase the Property: There are various ways to showcase a property, from professional photos and videos to 3D walkthroughs and even virtual reality tours. Determine the best way to showcase your property and get as many eyes on it as possible.
Use a Budget: Having a budget and sticking to it will ensure you stay within your means. Marketing is not all about who has the most significant budget but who is consistent and strategic.
Be Responsive: With rapidly available content everywhere and consumers looking for instant gratification, quickly responding to inquiries about your commercial space is paramount.

Talking with an experienced commercial real estate agent who is well-versed in the most up-to-date marketing strategies is highly beneficial. Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.

We give out $250 gift cards for referrals that become our real estate clients.

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#longmontcommercialrealestate #commercialrealestatebroker #northerncoloradocommercialrealestate

Location, Location, Location: Does it Really Matter?

August 17, 2023

Everyone has heard the infamous real estate saying “location, location, location”. But how much does location really matter?

For many years, real estate professionals have touted location as the most essential aspect of any property. It seems to make sense that a home in a desirable neighborhood would be an ideal place to live. Additionally, buying a short-term rental in a resort town where people love to vacation is a savvy investment strategy.

The question, therefore, is: What about commercial properties? Does location matter as much in commercial real estate?

Does Location Matter in Commercial Real Estate?

The short answer is yes. Location matters greatly in commercial real estate. The longer answer is that it heavily depends on the type of property.

For example, location is vital when considering potential property options for opening a restaurant, as the building and sign need to be visible to passersby. If your restaurant isn’t in a highly-visible location, you will miss out on many potential customers.

On the other hand, you must consider location differently if you are considering purchasing commercial real estate to open a storage facility. Your building may not need to be exposed to quite as much foot and vehicle traffic, but you will need a location that provides easy access for your target demographic with storage needs.

Additionally, to make a commercial real estate investment profitable, you may need to consider different locations based on price. Depending on the business and your goals, a prime location with a hefty price tag may make sense, or a smaller price tag with a better cash flow may be the best option.

Working with a highly-qualified commercial real estate broker is the best way to find the property and location that is right for you. Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.

We give out $250 gift cards for referrals that become our real estate clients.

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#longmontcommercialrealestate #commercialrealestatebroker #northerncoloradocommercialrealestate

Build-Outs in Commercial Real Estate

January 18, 2023

A commercial build-out comes into play when a space, previously occupied by a tenant, is now leased by a new business that will use the suite differently.

Tenants use commercial real estate spaces for various reasons, and every renter has their own needs. Some spaces may be the perfect fit as is, and some will require minor or extensive renovations to suit a new tenant.

Commercial Real Estate Build-Outs

A commercial real estate build-out refers to anything required to make a space ready for your business. Depending on the existing building, a build-out may include new lighting, removing or adding walls, designing a waiting area, installing a kitchen, or creating new offices or storage areas.

If the current space functions well for your business, a build-out may be unnecessary, and you may simply add a fresh coat of paint to complement your brand.

If your company is looking for new office space, you will likely be able to find a building that works efficiently as is. If, on the other hand, you are looking to open something more unique, like a bar, restaurant, or arcade, you will likely renovate (build-out) to create the right atmosphere.

Who Pays for a Build-Out?

There is no perfect answer as to who pays for a build-out. Everything is negotiable in commercial real estate transactions, and the same applies to a build-out. The landlord may cover the expenses, the tenant may be solely responsible, or they may share renovation costs, depending on the negotiated lease.

Be sure to consult an experienced commercial real estate broker as you choose your new space and decide on a build-out strategy. Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.

We give out $250 gift cards for referrals that become our real estate clients.

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#longmontcommercialrealestate #commercialrealestatebroker #northerncoloradocommercialrealestate

WANTED TO LEASE/BUY: 1500-3000 SF INSIDE LOVELAND CITY LIMITS

November 30, 2022

We have a new client who is looking to lease or purchase a small shop in Loveland, CO. Here are the details:

1500-3000 square foot retail, flex or industrial space for Martial Arts Studio
Purchase or 3-5 year lease preferred, but flexible
Minimal power, heat and simple bathroom needs
Ready to act quickly for the right opportunity!

Please contact me if you are aware of anything that might fit. Thanks!

Steve Longenecker, Broker

Northern Colorado Commercial Real Estate
720-600-9513, WeBrokerCORealEstate.com
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Refer a Client to us and receive a $250 gift card!

What to Know About Tenant Improvement Allowance

November 22, 2022

A tenant improvement allowance (TIA) is one of many important details in a commercial real estate transaction. Your tenant representation broker will advise you on the best way to negotiate a TIA based on your organization’s needs.

What is a Tenant Improvement Allowance?

A tenant improvement allowance is a specified amount of money that the landlord agrees to give the lessee so they can make changes to the leased space.

For instance, if your company was searching for new office space and found something nearly perfect but just needed a few renovations, you may be able to negotiate a tenant improvement allowance. A TIA can, in some cases, also be used to cover other expenses associated with the move.

The allowance is written into the lease agreement (typically seen as a dollar amount per rentable square footage) and details how the funds may be used.

How Can You Use a TIA?

You cannot use a TIA for everything. Your business will be responsible for equipment, furniture, and other decorating costs.

The landlord typically only wants tenant improvement allowances to be used for things that will provide lasting value. Building new or removing unnecessary walls, adding doors or windows, new plumbing and HVAC, or new paint and carpet are all common uses for tenant improvement funds.

Don’t Leave Money On the Table

Working with an experienced commercial real estate broker who negotiates on your behalf will ensure you don’t leave money on the table. Securing a substantial tenant improvement allowance can tremendously benefit your company in its next move.

Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.

We give out $250 gift cards for referrals that become our real estate clients.

Like, Share & Follow us on LinkedIn and Facebook.

#longmontcommercialrealestate #commercialrealestatebroker #northerncoloradocommercialrealestate

Commercial vs. Residential Real Estate Investing

August 16, 2022

Commercial vs. Residential Real Estate

Some real estate professionals have strong opinions on whether it’s best to invest in commercial or residential real estate. The truth is that your financial position and your goals will determine which investment is best for you. In the end, each strategy has its own pros and cons.

Your residential real estate investment could be a single-family home, condo, townhome, and anything up to a quadruplex. Commercial real estate is anything that has 5+ dwelling units, office buildings, retail space, hotels, etc. To decide which path is right for you, let’s look at some of the benefits of the two types of real estate investment.

Pros of Commercial Investment

While it may be tougher to get started due to higher costs, there are some great benefits of commercial real estate.

Well-Qualified Tenants: In residential properties, you typically work with families or groups of people as tenants who may not treat the property as you would. In commercial real estate (aside from apartment buildings), your tenants are well-qualified businesses that likely won’t create as much wear and tear on the property.
Lease Terms: In commercial real estate, five to ten-year leases are common, which means there is significantly less turnover than in residential leases. Additionally, triple net leases are often used, meaning the tenant handles all property expenses directly, significantly reducing the property owner’s maintenance costs.
Appreciation: In residential real estate, the value of a home is heavily dependent on comparable homes in the area. For commercial properties, the building’s value is almost purely based on its cashflow potential and thus can appreciate very well over time without being affected by the surrounding structures.
Return on Investment: The larger scale of commercial investment properties typically correlates to a greater return on investment. While it may require more cash to begin investing, the cash flows almost always beat residential properties.

Pros of Residential Investment

There are also many pros to residential real estate that may make it a better fit for some.

Large Tenant Pool: As opposed to working primarily with businesses, residential real estate has a large pool of tenants and buyers. A larger tenant pool ensures that vacancy rates stay low and cash flow is consistent.
Starting Cost: Residential real estate is often much more affordable than commercial properties. The lower starting cost makes it easier for investors to start in the industry.
Recessions: Businesses are always quickly impacted by an economic downturn which inevitably affects their landlord. Companies may go out of business or look to cut down on costs, and suddenly commercial properties are hard to market. Residential real estate, however, typically stands strong, no matter the state of the economy, as people always need a place to live.
Fewer Rules: Commercial real estate comes with many zoning laws, regulations, and paperwork. Because residential real estate doesn’t involve renting to businesses and is typically smaller scale, there are significantly fewer rules to follow.

What is Best for You?

If you are curious about what investing strategy might be best for you, it’s important to connect with a real estate professional to discuss your options. Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 if you have questions about the commercial real estate market in Longmont, CO, and our neighboring communities.

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How is Online Shopping Changing Commercial Real Estate?

July 20, 2022

The Shift to Online Shopping

Can you remember when buying something on Amazon wasn’t an option? Do you recall driving to several stores to find a specific product? E-commerce created a global economy that has become accustomed to ordering nearly anything with the touch of a button.

Online Shopping Changing Commercial Real Estate

The rapid increase in online shopping undoubtedly changed the commercial real estate industry in several ways.

Large-Scale Construction

With large online retailers like Amazon comes the need for expansive facilities to execute their operations. The construction of enormous distribution centers near major cities is necessary to meet shipping demands.

Changing In-Store Environments

Why would you want to drive to a store when you can purchase anything you need from your favorite spot on the couch? To attract customers, different brick-and-mortar retailers are implementing unique ideas, such as providing children’s play spaces that allow parents to shop distraction-free.

Additionally, stores are integrating technology into the shopping experience. Retailers are implementing apps that assist customers in-store and some that even allow shoppers to check out directly through their smartphones to avoid lines.

Smaller Retail Spaces

With the shift toward online shopping, some retailers are struggling to keep large locations open and are pivoting to smaller spaces. Increased efficiency in shipping allows stores to keep less inventory on hand, making downsizing a great and more affordable option for some.

Watching the Market

As with all other aspect of the world, the commercial real estate industry is constantly evolving. If you are considering investing in commercial real estate, working with a professional who is consistently watching your local market and knows today’s trends is essential.

Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 if you have questions about the commercial real estate market in Longmont, CO, and our neighboring communities.

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What to Consider Before Moving Office Spaces

July 5, 2022

Time to Move

Have you outgrown your current office space and decided it’s time to move? Has the global pandemic changed your business’s commercial real estate needs? Are you looking for a more updated and functional building?

There can be many reasons for moving to a new office space. You should consider a few things before deciding when and where to make your move.

Tips for a Smooth Transition

Know What You Are Looking For: Before you start looking for new commercial property, make a list of must-haves. Not every office space will provide the same functionality, so it’s important to know what you need.
Don’t be Overly Picky: Keeping your list of must-haves in mind, you shouldn’t be afraid to compromise on a few less essential items. Keeping an open mind will help you land a new space that fits your needs without spending years looking for an office that checks every single box.
Find a Moving Company: Finding movers who care for your company’s possessions the way you would can seem impossible. Look for recommendations from other business owners or your trusted real estate professionals.
Check Your Dimensions: No matter the size of your office, you have likely acquired pieces of furniture, equipment, and decorations. Make sure that all the necessary items will fit in your new space before wasting time and energy moving them.
Celebrate: Once you have found your perfect new office space and settle in, remember to celebrate! Real estate shopping and moving are not always easy, so remember to reward yourself and your employees.

Rely on Expertise

While moving office spaces may be sometimes necessary, it can feel daunting. Make sure you partner with a real estate professional with the expertise to make the transition seamless.

Please contact Steve at WeBrokerCORealEstate or 720-600-9513 if you have any questions about the commercial real estate market in Longmont, CO and our neighboring communities.

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Pros and Cons of Hiring a Third-Party Property Manager

June 22, 2022

Does it make sense to use a third-party property manager for your rental property? Whether you are buying a single-family home or a large apartment complex, hiring a property manager will have its pros and cons.

Hiring a Third-Party Property Manager

Let’s dive into some pros and cons of hiring a third-party property manager.

Pros:

Knowledge & Practice: In the same way you would rather see a trained doctor or take your vehicle to an experienced mechanic, you can trust a property manager to conduct business properly. They have created an entire career out of managing properties, and that experience can significantly benefit you or your organization.
Protecting Your Time: Your property manager will take care of tenant phone calls/requests, contractor coordination, and the financial and bookkeeping aspects of owning a rental property.
Avoiding Conflict: When you manage your own property, it’s easy for your business and personal lives to become intertwined. Having a neutral third party can help protect your private life from the emotions and stress of being a landlord.

Cons:

Control: Your property manager will oversee the communication with tenants and take care of tasks associated with the building. This means you won’t have complete authority to make decisions and handle issues as you see fit.
Cost: The fee to hire a property manager will inevitably affect your bottom line. Depending on the situation, the extra expense may or may not be worth it.

What Strategy Works Best for You?

Many factors play into whether or not it makes sense to hire a third-party property manager. You should work with a real estate professional that can help guide you in that decision based on their experience.

Please contact Steve at WeBrokerCORealEstate or 720-600-9513 if you have any questions about the commercial real estate market in Longmont, CO and our neighboring communities.

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Are Communal Work Spaces Changing Commercial Real Estate?

May 25, 2022

Commercial Real Estate During a Pandemic

The rapid rise of a global pandemic certainly changed the commercial real estate industry. Many companies shifted immediately to fully remote work and never looked back. Others took a brief hiatus from their corporate office buildings but knew they would return as soon as possible.

When working from home became a permanent reality for some, they relished the idea of never having to leave home. Quickly, however, many missed the office environment and thus began the recent dramatic increase in communal workspaces all across the country, including here in Northern Colorado.

Coworking Begins

San Francisco was the home to the first communal office or coworking space, opening in 2005. Since then, employees and employers alike have realized the benefits of the coworking sector. The combination of flexibility for the employee while creating a structured work environment proved beneficial.

Along with flexibility, communal office spaces foster creativity, productivity, and connection with others. Studies have shown that an overwhelming majority of people working from a coworking space perform better and enjoy the ability to collaborate with the diverse population working nearby.

Changing Commercial Real Estate

Companies like WeWork, one of the largest coworking providers, are causing the following changes in the commercial real estate industry:

Communal workspaces allow building owners to benefit from purchasing more space than one business can fill.
Some companies will not have to buy or rent a single piece of commercial real estate if communal workspaces are conducive to their business.
Commercial real estate owners with unused spaces in their building can collect passive income by leasing unoccupied portions for coworking.
More companies will continue to operate with employees across the county as they utilize the amenities that coworking spaces offer.

Is Communal Office Space Taking Over the Market?

The quick answer is no. Communal office space is increasing in popularity, but the reality is that it doesn’t work for every industry. Medical facilities, labs, and many other corporations will still need or want their own facilities for many years to come. Coworking spaces are a great addition to the commercial real estate industry and can benefit building owners, but they aren’t taking over the market anytime soon.

Contact Steve at WeBrokerCORealEstate or 720-600-9513 to discuss any of your commercial real estate questions or needs in Longmont, CO and our neighboring communities.

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Top Strategies for Marketing Commercial Real Estate

Category: Shop building for lease

Top Strategies for Marketing Commercial Real Estate

Ready to Lease or Sell?

Commercial Real Estate Marketing Strategies

Location, Location, Location: Does it Really Matter?

Does Location Matter in Commercial Real Estate?

Build-Outs in Commercial Real Estate

Commercial Real Estate Build-Outs

Who Pays for a Build-Out?

WANTED TO LEASE/BUY: 1500-3000 SF INSIDE LOVELAND CITY LIMITS

What to Know About Tenant Improvement Allowance

What is a Tenant Improvement Allowance?

How Can You Use a TIA?

Don’t Leave Money On the Table

Commercial vs. Residential Real Estate Investing

Commercial vs. Residential Real Estate

Pros of Commercial Investment

Pros of Residential Investment

What is Best for You?

How is Online Shopping Changing Commercial Real Estate?

The Shift to Online Shopping