The Ultimate Tenant’s Touring Guide to Commercial Real Estate

Commercial Real Estate Touring Checklists: Office, Retail, and Industrial/Warehouse Spaces

Are you in the market for commercial real estate? Whether you’re looking for office, retail, or industrial/warehouse space, it’s important to have a checklist of what to look for during your property tours. Here are some key factors to consider when evaluating each type of space:

Office:

1. Location: Is the office located in a convenient and accessible area for employees, clients, and vendors? Is there ample parking or public transportation nearby?
2. Size: Does the office provide enough space to comfortably accommodate your team and allow for growth in the future? Is the layout of the space conducive to your business needs?
3. Amenities: What amenities are included in the lease agreement? Is there access to shared meeting rooms, a break room, or a gym? What about internet and utilities?
4. Building infrastructure: Is the building well-maintained and secure? Are there any red flags in terms of maintenance or potential safety concerns?
5. Natural light: Does the office space have adequate natural light to boost employee productivity and morale?
6. Noise levels: Is the space too noisy, too quiet, or just right for your business needs?
7. Climate control: Is the space properly ventilated and temperature-controlled for comfort and productivity?
8. Technology: Are there adequate electrical outlets and technology capabilities to meet your business needs?
9. Lease terms: What are the terms of the lease agreement, including rent, security deposit, and any renewal options?
10. Flexibility: Is the landlord open to negotiating lease terms or customizing the space to fit your business needs?

Retail:

1. Location: Is the retail space located in a convenient and easily accessible area for your customers? Is there adequate foot traffic and visibility from the street?
2. Size: Is the retail space large enough to comfortably accommodate your inventory and provide a pleasant shopping experience for your customers?
3. Layout: Does the layout of the space flow well and allow for efficient use of the available square footage? Are there any awkward spaces or obstacles that would hinder your ability to set up your shop?
4. Foot Traffic: Is the retail space in a high-traffic area? What are the busiest times of day or days of the week for foot traffic?
5. Parking: Is there adequate parking available for customers? Is there reserved parking for employees or delivery vehicles?
6. Signage: Are there restrictions on the size, placement, or type of signage that can be used on the building or in the window?
7. Utilities: Are the necessary utilities in good working order? Is the space properly ventilated, heated, and cooled?
8. Accessibility: Is the retail space accessible to customers with disabilities? Are there any barriers to entry or movement within the store?
9. Security: What security measures are in place to protect your inventory? Are there cameras, security guards, or an alarm system?
10. Lease Terms: What are the terms of the lease agreement, including rent, security deposit, and any renewal options?

Industrial/Warehouse:

1. Location: Is the warehouse located in a convenient and accessible area for your suppliers, customers, and employees? Is there ample parking or loading dock space nearby?
2. Size: Does the warehouse provide enough space to comfortably accommodate your inventory and allow for growth in the future? Is the layout of the space conducive to your business needs?
3. Height and Clearance: What is the height and clearance of the warehouse? Can your inventory fit on the shelves or stack high enough to utilize the space effectively?
4. Loading Dock: Is there a loading dock for easy access to the warehouse? How many docks are there and are they the right size for your shipping and receiving needs?
5. Power and Lighting: Is the warehouse equipped with adequate electrical outlets and lighting to meet your business needs?
6. Climate Control: Is the warehouse properly ventilated, insulated, and temperature-controlled for the safe storage of your inventory?
7. Safety Features: What safety features are included in the warehouse? Are there smoke detectors, sprinklers, or a fire suppression system in place?
8. Security: What security measures are in place to protect your inventory? Are there cameras, security guards, or secure access points?
9. Lease Terms: What are the terms of the lease agreement, including rent, security deposit, and any renewal options?
10. Flexibility: Is the landlord open to negotiating lease terms or customizing the space to fit your business needs?

In addition to the checklist, its important to come prepared with a list of questions to ask your broker including:

1. How long has the space been on the market?
2. Are there any upcoming renovations or construction projects planned for the building or the surrounding areas?
3. Are there any restrictions on how the space can be used?
4. What are the typical utility costs for the space?
5. What is the policy on maintenance and repairs?
6. Are there any shared amenities included?
7. Are there any parking restrictions or costs associated with parking?
8. What is the security protocol for the building?
9. Are there any restrictions on signage or branding for the space?
10. What is the history of tenants in the building or center?
11. What is the history of the landlord or center?

In conclusion, touring commercial real estate properties can be a complex process that requires careful consideration of multiple factors. By using the appropriate checklist and asking your broker the right questions, you can ensure that you find the ideal property that meets all your business needs. Remember, the property you choose will have a significant impact on the success of your business, so take the time to do your due diligence and make an informed decision. We are here to help every step of the way!