Displaying items by tag: commercial real estate
As the CEO of a small business, it can be difficult to acquire the right workspace for your company. When you don’t have a commercial real estate expert in-house, leasing the right facility can be a challenge. But when you have an expert in corporate real estate consulting on your side, you can make things a little easier for your business.
So how can you find the right CRE consultant for your needs? Do you really need to hire a CRE consultant? Where should you get started? We’re here to clear the air on this topic.
As a top provider of corporate real estate consulting in Denver, we've developed 4 considerations that you need to carefully weigh as you think through your CRE needs. These questions will help you evaluate your CRE needs as your company grows and changes for the better.
4 CRE Considerations From an Expert in Corporate Real Estate Consulting
When most people think about commercial real estate, they first think about large companies like Google and Amazon that own massive amounts of office space. But you don’t have to own a commercial building to utilize it! Commercial real estate is a complex industry that has never been out of reach for smaller entities.
Let's walk through the top 4 things to consider when it comes to corporate real estate.
1) Which type of property should you lease?
There’s a wide range of commercial properties on the market and they all serve unique business purposes. From retail and industrial spaces to multi-family residences and other types of property, your CRE strategy all starts with nailing down the right type of listing.
This decision can have massive implications for the future of your company. For example, if your business is product-based (e.g., a clothing company), then you’ll likely need to lease a larger industrial property to create your products. However, the same can’t always be said for financial-based businesses, like financial advisors or CPAs.
Before you dive headfirst into one property type over another, it may help to ask yourself a few guiding questions first. To nail down your property type, ask yourself questions like:
- How will your company utilize your next commercial real estate property?
- Do you anticipate that your business will grow in the next few years? If so, how might that affect your CRE needs?
- Will clients and customers be visiting your location regularly?
2) How much time can you spend on your CRE search?
Once you’ve nailed down which type of property is best for your company, then you’ll need to find the most appropriate listings for your company. Unfortunately, this can be a complex, confusing, and arduous process, especially if you are unfamiliar with CRE.
You can expect some stiff competition across the commercial real estate market in Denver. CRE leases may last for 5, 10, or even 15 years, but listings for corporate real estate may only be available for a handful of days. This can make it very difficult to acquire the right property for your needs at the right time. And when you need to balance your work with your CRE search, timing can become an even greater issue.
For that reason, it can be very helpful to leverage the support of a corporate real estate consultant. They’ll monitor the market for you each day and will have access to CRE listings that aren’t publicly available. They will leverage their years of experience to analyze local listings to locate the most fitting options for your budgetary constraints and your property needs. Thanks to their expert CRE support, you’ll be able to acquire the right property for your company when you need it most.
3) What property upgrades will you need to install?
No single property listing will ever meet all of your needs. While a given listing may check off many of your “must-haves,” it may still miss some key items. For instance, some office spaces may have adequate square footage but may lack a functional kitchen area. So you may need to account for that property upgrade.
When you enlist the help of corporate real estate consulting services, you won’t need to worry about those property upgrades. Your CRE expert will handle all of the logistics of your upgrades and will ensure that the appropriate features are in place by the time you move in. Not only that, but they’ll handle every part of your office fit-out project including:
- Budget and schedule management
- Design and construction management
- Contract negotiations and vendor management
- Move management
- And more
4) Who should you hire for corporate real estate consulting in Denver?
It’s no secret that commercial real estate is time-consuming, stressful, and chaotic. For that reason, it’s best to hire a CRE consultant to manage your CRE search, your lease(s), and your office fit-out.
When looking to hire a CRE consultant, make sure you look for someone who is experienced. They should know the local market well enough to spot trends before others. It’s also important to make sure their experience includes working within your industry. If a CRE broker has not worked with other companies similar to yours, then they may struggle to find the right listings for you.
If you're ready to find your next commercial real estate lease in Denver, you're likely best served by hiring a corporate real estate consultant. And you’ve already come to the right place at Lavoro Consulting.
No matter your goals or budget, we can achieve your CRE needs at Lavoro Consulting. Our corporate real estate consultants have:
- Successfully managed portfolios and projects in excess of 600,000 SF with budgets of more than $25M.
- Helped clients and companies negotiate lease savings over $10M in just a single transaction.
Take the next step with Corporate Real Estate Consulting in Denver
As you can see, there's a lot to consider and hammer out when looking for commercial real estate listings. As the CEO of a small or medium-sized business, don’t make your next CRE move without expert partners like us at your side.
Are you ready to start taking serious next steps in your company's commercial real estate future? Contact us at Lavoro Consulting today to make the right moves towards corporate real estate success!
If you're making real estate decisions for your company without leveraging strategic real estate consulting services, you may be losing your company thousands upon thousands of dollars. The choices and approaches you make with your corporate real estate strategy can have lasting impacts on your bottom line and your company culture. If you make the wrong CRE decisions, they can have lasting financial repercussions for your company.
A strategic real estate consultant can help mitigate these risks and guide you with a multi-faceted strategy through the complex and ever-evolving landscape of corporate real estate.
What is strategic real estate consulting?
Strategic real estate consulting is a corporate real estate service provided to small and mid-size companies. Those companies will often have limited portfolios and infrequent, one-off projects, which means dedicated real estate staff is often out of budget. So these CRE tasks typically fall on the plates of departments that don’t have the bandwidth to deal with it every few years. That’s where strategic real estate services come in!
The best real estate consultants, like our team at Lavoro Consulting, have extensive experience in interior design, space management, and corporate real estate services. CRE consultants function as an extension of your staff to provide consistency, efficiency, and dedicated attention to your real estate, facilities, and leases.
Let's take a look at 5 ways strategic real estate consulting ensures every property you lease, buy, or sell meets the long-term financial and operational goals of your business.
Better Outcomes With Stakeholder Collaboration
When people participate in decision-making or planning that is going to affect their work, they’re going to feel a higher degree of ownership and commitment to that work. Involving stakeholders in your corporate real estate plan almost always generates better outcomes.
For instance, at Lavoro, we work with every stakeholder on a project to involve them in the strategic planning process so that your organization is unified in your desired outcome. We’ll bring all parties to the table and lead discussions about any changing or future needs for your business. This helps ensure that every party is on the same page with a shared vision. And it ultimately helps create a more cohesive environment within your organization.
Portfolio Strategy and Management for Multiple Office Locations
Managing offices across diverse geographical areas can be challenging, even for experienced professionals. The ability to create cost and operational synergies across your company’s portfolio often requires strategic real estate consulting services and CRE expertise that you may not be able to house internally. That’s where CRE consultants come in.
At Lavoro, our goal is to put your properties in the best financial position. We offer strategic, pragmatic solutions so you can feel confident in every real estate transaction you make. Our experts understand the unique challenges faced by businesses that operate in multiple locations. As such, we know how to leverage your real estate transactions and portfolio strategy to streamline operations while maintaining high levels of customer and employee satisfaction.
Mitigate Risks for Potential Commercial Real Estate Investments
As part of our strategic real estate services, we’ll conduct a number of scenario analyses so that you can accurately measure risk when evaluating a potential commercial real estate investment. We’ll consider all kinds of scenarios from worst-case to best-case, so you can make data-driven decisions for your business.
Our CRE analysis includes:
- A review of market conditions
- An assessment of current operations and costs associated with operating multiple locations
- Identification of opportunities to improve efficiencies through consolidation or relocation
- Analysis of capital requirements necessary to fund improvements
- Evaluation of alternative financing options such as debt vs. equity
- And an assessment of risks related to location selection, tenant mix, competition, and more.
Accurately Identify, Plan, and Manage Space Needs
Commercial leases are almost always long-term leases. This can make it difficult to align your organizational needs with your lease. Before your CRE consultants even start the search for your next commercial space and help with the lease administration, they’ll help you accurately identify your company’s space needs.
This means you’ll be asked questions like:
- What type of space do you need?
- How much square footage does your organization take up now?
- Where would you ideally want to locate?
- Do you have enough room for growth?
- Are you looking at an expansion opportunity? If so, which spaces should you target first?
These types of questions will help your CRE specialists identify, plan, and manage your company’s space needs.
Optimize and Repurpose Current Office Space with a Restack
When a company’s lease is almost up, leadership must answer a tricky question: “Should we re-sign and stay or should we move to a new space?”
If you like where you currently are, but your office needs a facelift, then an office restack is always a great way to revitalize your space. At Lavoro, we can assist with all aspects of your office restack so your team experiences minimal disruption and a smooth transition, all while getting the most out of every square foot of your space.
We’ve helped companies reposition their existing space by consolidating several small offices into one larger space, creating more efficient workflows, improving employee morale, and reducing overall overhead expenses. Our experience working with clients on this type of project has given us insight into how to maximize efficiency and minimize downtime.
There's no doubt that investing in commercial real estate requires careful planning and execution. You may want access to experienced corporate real estate professionals when considering buying a property outright or leasing from another party. Our CREs can provide guidance throughout the process to ensure better success.
At Lavoro, we believe that successful investments require thoughtful consideration of both short-and long-term goals. By combining deep industry knowledge with extensive hands-on experience, we'll help you navigate each step of the journey toward achieving those goals without bleeding money.
Learn More About Our Strategic Real Estate Services
If your business or organization needs assistance creating a successful strategic real estate plan, reach out to us today at Lavoro Consulting. We are here to function as an extension of your team and ensure your real estate decisions positively impact your bottom line and contribute to the overall success of your business.
We have extensive experience in both public and private-sector work in the corporate, retail, hospitality, and transportation sectors. We’ve worked with clients nationally and globally to provide workplace and portfolio services that make your spaces work for you.
Schedule a consultation today to learn more.
Navigating the complex world of commercial real estate can be challenging. Even just the thought of relocating your office or warehouse space can feel very overwhelming. A new space isn’t just something you’re going to occupy for the next few years, it’s also one of the top expenses for your business. Working with a tenant rep in Denver throughout the relocation process is one of the best business decisions you can make.
What is a tenant representative?
A tenant representative is a commercial real estate (CRE) consultant who works exclusively on behalf of the tenant. This is different from a transaction real estate broker, who will often work with both the tenant and the landlord simultaneously, which can create a conflict of interest.
Why work with a tenant rep?
Working with a tenant rep has many benefits for your business. Here are three of the top reasons why it’s worth hiring one for your next commercial real estate transaction.
1. Landlords will return your calls
If you’ve started to search for a new commercial space on your own, you probably already know how hard it is to get landlords or landlord reps to return your calls. They are incredibly busy people and, unfortunately, they don’t always have the time to get back to every prospective tenant (even though you could very well be the perfect fit for their space).
Working with a tenant rep in Denver can help ensure landlords are actually calling you back thanks to their increased credibility and reputation, and the backing of their CRE company. Hiring a tenant representative shows landlords just how serious you are in finding a suitable space for your business.
2. Gain access to CoStar and off-market properties
Only a handful of all commercial real estate properties are accessible to the public. And of the ones that are listed on free sites such as LoopNet, many listings are outdated.
Hiring a tenant rep helps ensure you have access to complete listing databases on sites like CoStar, which require a fairly hefty monthly membership fee. Tenant representatives are also well connected within the commercial real estate industry. They know local leasing brokers and landlords, which can help give you access to off-market spaces.
Not to mention, they also have relationships with top area architects, interior designers, general contractors, office furniture dealers, and many other valuable connections. Those relationships can help ensure you’re able to design the business space of your dreams.
3. Ensure you find the right fit for your needs
Finding the right fit for your office space is no easy feat. It’s much more complex than just thinking about what you need now. You need to plan for the future too.
Ask yourself: is your company growing or staying static? Will you shift towards remote work or stay in the office down the line? What kind of parking do your employees need? What are your current landlord concessions (free rent, base year cap, moving allowance, etc.)? Does the landlord seem responsive and professional?
Work with an experienced tenant rep in Denver today
If you want to find the right commercial space, at the right price, at the right time, you need to work with an experienced tenant representative. Here at Lavoro Consulting, our tried-and-tested tenant rep in Denver will stand by your side and advocate on your behalf throughout the entire commercial real estate broker transaction process.
What are you waiting for? Contact us today to learn more.
COVID-19 changed the demands of commercial real estate in ways we're still trying to understand. Many businesses saw their commercial real estate commitments as a means to cut costs and save money. If you're considering renegotiating a lease or exiting an unwanted space, you could be overlooking an opportunity to utilize lease administration services in Denver to cut costs and boost your bottom line.
Unlike leases for residential properties, commercial leases are expected to go through multiple rounds of negotiation. The initial lease that is provided to you is essentially a rough draft. Your potential landlord or property owner is anticipating that you will request changes to the proposed lease. Here’s how to negotiate a commercial lease to ensure you get the best possible outcome for your organization.
Whether your business is moving a few blocks away or all the way across town, relocating your office is stressful. Operations are disrupted, things don’t always go as planned, and it can be difficult to stay under budget. And without proper preparation, your office move can quickly become a huge headache for both you and your team. However, when implemented correctly, office relocations have been shown to positively impact nearly 70% of employees. The best way to make your move more manageable and stress-free for you and your team is by creating an office relocation action plan.
If your business operates out of multiple offices, you have a choice to make: hire a commercial real estate portfolio manager or manage the properties yourself? If you have a relatively limited portfolio and infrequent, one-off CRE projects, it may be tempting to try to cut costs and manage the portfolio yourself. But before you make a decision, it’s important to understand just how much value a CRE portfolio manager can bring.
Navigating the complexities of commercial real estate can be overwhelming. You can make the process more manageable by working with an experienced commercial real estate broker. With a CRE expert on your side, they’ll help ensure you make informed and strategic decisions when buying, selling, or leasing commercial properties. Here at Lavoro Consulting, we partner with some of the top brokers in the business to ensure you’re getting the best bang for your buck.
Depending on the size and scope of your business, you could operate in a few office spaces or dozens of locations. While it might be possible for someone on your internal team to manage a few properties, any more than that and it will interfere with their ability to complete day-to-day tasks. Managing a geographically diverse real estate portfolio requires an in-depth understanding of the complexities and nuances of each individual property. This can be challenging for even the most experienced real estate professionals. And often, many companies cannot house a team that's well-equipped to effectively manage all of their real estate holdings. Luckily, commercial real estate outsourcing is becoming more and more accessible.
In today's fast-paced and ever-evolving world, businesses need to be able to quickly adapt to new norms, challenges, opportunities, and obstacles. Just take the COVID-19 pandemic for example. No one could have predicted that the world would have to go into a nearly year-long lockdown. But still, businesses needed to learn how to adapt if they wanted to stay afloat. With more and more companies extending remote work opportunities post-COVID-19, real estate needs are changing for many businesses. And although it might be possible for your team to manage a few properties, any more than that can become overwhelming and impact their ability to carry out their primary responsibilities. At Lavoro Consulting, we offer all of the benefits of an in-house real estate team with the added flexibility of an outsourced commercial real estate consulting service.