Jan 30, 2025
I Need to Lease a Commercial Space for My Business – What’s the Next Step?
Finding the perfect commercial space for your business can be both exciting and overwhelming. Whether you’re launching a new venture, expanding operations, or relocating, leasing commercial real estate requires careful planning and a clear understanding of the process. At Lisamarie Wand Group, we specialize in helping business owners navigate every step of the leasing journey. We proudly represent clients across the state of Nevada. Here’s a comprehensive guide to the next steps in leasing a commercial property and how we can assist you throughout the process.
Step 1: Define Your Business Needs
The first and most important step is to define your specific requirements for the commercial space. Consider factors such as:
- Location: Where will your business thrive? Proximity to customers, suppliers, or employees might be critical.
- Size: How much space do you need? This depends on your business type, number of employees, and future growth plans.
- Budget: Determine a realistic budget that includes not just rent but also additional expenses such as utilities, maintenance, and insurance.
- Type of Space: Are you looking for retail, office, industrial, or mixed-use space? Each type has its unique features and considerations.
By understanding your priorities, you’ll be better equipped to make informed decisions and avoid costly mistakes. At Lisamarie Wand Group, we help you assess your business needs and match them with the right property options.
Step 2: Conduct Market Research
The next step is to explore the commercial real estate market. This involves identifying available properties in your preferred location and evaluating them based on your criteria. However, navigating the market can be time-consuming and overwhelming, especially if you’re unfamiliar with the nuances of commercial leasing.
Our team at Lisamarie Wand Group leverages deep market knowledge and advanced tools to streamline this process. We provide you with a curated list of properties that meet your requirements, saving you time and effort.
Step 3: Tour Potential Spaces
Once you have a list of potential properties, it’s time to schedule tours. Visiting spaces in person allows you to:
- Assess the layout and suitability for your business operations.
- Evaluate the property’s condition and amenities.
- Get a sense of the surrounding area and foot traffic (if applicable).
We accompany you on these tours, offering expert insights and helping you ask the right questions to ensure the space aligns with your goals.
Step 4: Analyze Lease Terms
Understanding the terms of a commercial lease is crucial to making the right decision. Key elements to review include:
- Lease Type: Common options include gross leases, net leases, and modified gross leases.
- Rental Rates: Are the rates competitive for the area and property type?
- Lease Length: Does the term align with your business plans?
- Additional Costs: These may include maintenance fees, property taxes, and utility costs.
At Lisamarie Wand Group, we help you analyze and compare lease terms, ensuring you fully understand your financial commitments and rights as a tenant.
Step 5: Negotiate the Lease
Lease negotiation is one of the most critical steps in the leasing process. A skilled negotiator can secure more favorable terms, such as:
- Lower rental rates.
- Flexible lease lengths.
- Tenant improvement allowances.
- Reduced security deposits.
Our team has extensive experience in negotiating leases. We advocate on your behalf, ensuring your interests are protected while maintaining a positive relationship with the landlord.
Step 6: Perform Due Diligence
Before signing a lease, it’s essential to conduct due diligence. This includes:
- Verifying zoning and land use regulations.
- Reviewing property condition reports.
- Ensuring compliance with legal and safety requirements.
At Lisamarie Wand Group, we assist with the due diligence process, coordinating with attorneys, contractors, and other professionals to address any concerns before you commit.
Step 7: Finalize and Sign the Lease
Once all negotiations and due diligence are complete, it’s time to finalize the lease agreement. Before signing, ensure you understand every clause and its implications. This is where having a trusted advisor by your side can make all the difference.
We review the lease with you, addressing any final questions and ensuring the document accurately reflects your agreement with the landlord.
Step 8: Plan Your Move
With the lease signed, it’s time to plan your move into the new space. This includes:
- Coordinating renovations or improvements.
- Setting up utilities and services.
- Organizing the physical move of your business operations.
Our team can connect you with reliable contractors and service providers to simplify this process.
How Lisamarie Wand Group Can Help
Leasing a commercial space is a significant decision that impacts your business’s future. At Lisamarie Wand Group of Nevada, we’re committed to making this process as seamless and successful as possible. Here’s how we support you:
- Expert Guidance: With years of experience in Nevada’s commercial real estate market, we provide tailored advice and solutions for your unique needs.
- Comprehensive Market Knowledge: Our deep understanding of local trends and property values ensures you make informed decisions.
- Negotiation Expertise: We advocate for your best interests, securing favorable lease terms that support your business goals.
- Streamlined Process: From property searches to finalizing the lease, we handle the details so you can focus on your business.
- Ongoing Support: Our relationship doesn’t end when the lease is signed. We’re here to assist with any future real estate needs as your business grows.
Conclusion
Leasing a commercial space for your business is a complex process, but with the right approach and expert guidance, it can also be an exciting opportunity for growth. At Lisamarie Wand Group of Nevada, we take pride in helping business owners navigate the leasing journey with confidence. From identifying the perfect property to negotiating the best terms, our team is dedicated to your success. Contact us today to learn how we can help you find the ideal space for your business.
For more information contact:
Lisamarie Wand Group – Commercial Real Estate and Business Broker Experts
Mohr Partners, Inc
1325 Airmotive Way, #276
Reno, Nevada 89502
O: 775.224.5300
info@lisamariewand.com