When it comes to choosing a commercial real estate space for your business in Alaska, there are many factors to consider. For instance, the type of property that best suits your needs, the type of lease you will negotiate, the location, and the price per square foot will all play an important role in your decision.
Below are five things to do before you begin your search for commercial real estate space in the Anchorage AK area:
1. List your priorities
Before you can properly identify what will best suit your business needs, you will need to rank your priorities for the space. After all, it can be easy to get distracted by how a space looks and glaze over what the cons of the property may be. Let your commercial real estate agent know what you’re looking for and what factors take precedence. They can use this list in their search for the best property.
Remember, it is also equally as important to have a list of questions prepared when you arrive to look at commercial property in Alaska. If square footage is high on your priority list, be ready to ask how much the space has and the price per square foot.
2. Research leasing terms
There are several different types of leases that can be offered with a commercial real estate property. A net lease, gross lease, modified net lease, percentage lease, or even a sublease. Do your research on which lease would best suit you, so you are prepared when you find a property that you’re interested in. If you’re not completely certain about aspects of a commercial real estate lease, remember to use your agent! Northern Edge Real Estate agents are available to answer any questions you may have.
3. Research insurance costs
Rent and utility costs associated with an Alaska commercial real estate property are indeed important aspects of the deal, but do not forget to look into insurance costs. Certain leases may require specific insurance coverage for tenants, so you will need to factor this into your overall budget.
4. Get ready to negotiate
With commercial real estate in Anchorage AK, negotiating is key. Everything from the lease to the rent to the build-out can be negotiated. Know what you are willing to pay and work with in terms of space and rent terms before you begin looking for properties, then once you find the best option, you can work with your Northern Edge Real Estate agent to arrive at the best deal with the current owner.
5. Ask questions
Commercial real estate deals vary significantly from their residential counterparts, so don’t be afraid to ask questions if a term is unclear or you are worried about an aspect of your lease. When you work with Northern Edge Real Estate, you have the privilege of working with a CCIM or Certified Commercial Investment Member— an agent who has taken extra coursework to earn this prestigious designation and become the most knowledge in this niche of the industry.
As your local commercial real estate experts in the Anchorage area, Northern Edge Real Estate is here to help you find the best property. Contact us today for a list of available commercial properties and for more information on how to identify your risk and grow your wealth!
