When you’ve started considering moving into a commercial property for your business, you likely don’t know where to start. Leasing commercial property in Calgary can be challenging, but with the right commercial real estate team and careful planning, you can secure the ideal property for your business. The key is to be clear about your business needs and understand the steps involved in selecting the best location for your operations.
Finding the Right Location
Choosing a location for your business requires careful research and consideration. By defining your needs, evaluating accessibility, reviewing local zoning regulations, and analyzing costs, you’ll be better positioned to find a location that aligns with your business goals. Unlike purchasing real estate, leasing focuses more on operational needs, so it’s essential to think about your business’s long-term growth and how the location supports that.
Defining Your Space Requirements
Selecting the right location becomes crucial after determining the type of commercial space that suits your business. Whether you’re looking for retail, office, or industrial space, your location can significantly impact your business’s growth and customer accessibility. Each type of business has unique requirements, so list your top criteria—like size, parking, and proximity to suppliers or customers—and prioritize them.
Leasing Strategy and Budgeting
When preparing to lease a commercial property, it’s vital to establish a clear budget. Consider the base rent, but also factor in additional costs like insurance, property taxes, maintenance, and common area fees. Doing this will help you avoid unexpected expenses and help you stay within your budget. Consulting with a commercial real estate broker can also help identify properties that meet your budget and space requirements.
Getting Expert Advice
Working with commercial real estate advisors early in the process will provide valuable insights into the local market and the leasing process. A commercial real estate agent can guide you through available options, zoning requirements, and leasing terms. It’s also helpful to consult with colleagues or business partners with experience leasing commercial properties to gain practical advice.
Exploring Your Leasing Options
Approach your property search with flexibility in mind. While having a clear vision of what you need is essential, you may need to adjust your expectations based on market availability or budget constraints. Consider expanding your search or looking at more remote locations, which may offer lower rents. A knowledgeable real estate agent can guide you through the available options and help you find a lease that fits your needs.
Negotiating Lease Terms
Lease agreements are rarely set in stone, so don’t hesitate to negotiate. Understand all the associated costs and clarify who is responsible for maintenance, property tax, and insurance. You can also negotiate for rent-free periods, tenant improvements, or allowances for renovations. It’s important to have your lease agreement reviewed by a legal professional or real estate expert to safeguard your business interests.
Planning Your Move
Once your lease is secured, carefully plan the transition to the new space. Allocate enough time for making improvements, moving, and having a smooth transition with minimal disruption to your operations. Keep in mind that transitions often take longer than expected, so it’s important to account for potential delays.
Guidance from CMS Real Estate
At CMS Real Estate Ltd., we specialize in helping businesses find the perfect commercial property for their needs. With over 40 years of experience in Calgary’s commercial real estate market, we’re here to help you navigate the leasing process and secure a property that supports your business’s growth.
If you’re interested in commercial property leasing, our experienced team can help you navigate the commercial real estate world.
Ready to learn more about our commercial property leasing services in Calgary? Contact CMS Real Estate today.
- Gerry Macdonal Sr: (403) 219-0151
- Gerry Macdonald Jr: (403) 219-0161
- Jessica Macdonald: (403) 291-0425
Blog posts from CMS Real Estate are for general information only. The content should not be considered real estate management or investment advice. If you are in need of professional real estate advice, please contact our team.