3 Common Reasons Your Commercial Real Estate Location Isn’t Working Anymore (And How To Fix It)
Okay, so you’ve been at your current business location for many years now, and things are no longer working great at this location. The excitement of moving into a new facility has long worn off. Instead, you’re left with feelings of frustration, not sure if you need to start looking for a new address. Take a look at these 3 common reasons your current location is no longer working, and see how to fix them below!
Common Reason #1 For Property Problems: There’s No More Room
If business has been booming for a couple years, there’s a good chance your current space is starting to feel pretty small. There are two major options to choose from. Move into a larger property somewhere else, or perform a space audit and see if you can maximize your current positioning. Vertical storage is “free” storage, so make sure to claim every foot. Check your warehouse racking height and weight limits; can you more shelving higher up? Review your shipping and distribution policies; can you save space by outsourcing delivery directly between suppliers? Often times you will find unneeded steps, unused space, or non-essential clutter can be sucking up precious square footage. If you complete a review and decide everything is already being used to its full potential, it’s time to start the search for your next location. Feel free to contact us to get expert commercial property help at no charge. Call us at 949-366-2020 to get started right now.
Common Reason #2 For Property Problems: The Current Layout No Longer Meets Your Needs
Over the years of running your company, you’ve updated your procedures, adjusted your business plan, and stayed up with the times. This sometimes results in a floor plan from five years ago no longer working with your present needs. The good news is that this can often be resolved without needing to move. Talk to a professional space planner or general contractor. They can probably make your ideal setup come to life at your current property. Office spaces can be constructed into the warehouse, a mezzanine can be built for employees or storage needs, and small interior offices can be demolished and turned into beautiful open collaboration space. Even if you have added industrial machinery and need more power, extra amperage can be brought in by the local utility company. While these improvements can have a big price tag, they may still be more cost-effective than the alternative.
Common Reason #3 For Property Problems: You’re Paying For Unused Space
With the advances in technology, mobile workplaces, and upgraded machinery, many companies now have an abundance of empty space. This creates a monthly financial burden for something you aren’t using. Luckily this may be the easiest problem of these three to fix. Subleasing (leasing, if you’re the building owner) a portion of your location is highly popular. There is only a 1-2% commercial vacancy rate in the current market. This results in many companies desperate for extra space. Using an industry-standard sublease agreement, you can put a high-quality tenant into your empty areas and receive monthly income while still staying at your location! Another great aspect of this option is the fact you can expand back into that space in the future. Talk to us today to see how we can help you receive monthly supplemental income! 949-366-2020
If you’ve been dealing with one (or all) these problems, we want to help you. Call us at 949-366-2020 to avoid these common problems forever!