Ray thanks for following me on Twitter! https://t.co/gZSnG7zIVm
— Nathan K Smith (@AustinTenantAdv) January 31, 2018
from Twitter https://twitter.com/AustinTenantAdv
This blog was created to provide information about the Austin Commercial Real Estate scene. If you want to learn information and tips about leasing and purchasing office, retail, and industrial space in Austin you have come to the right place
Ray thanks for following me on Twitter! https://t.co/gZSnG7zIVm
— Nathan K Smith (@AustinTenantAdv) January 31, 2018
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Office furniture is a necessary aspect for a business that leases offices space as it adds to the function and design of the overall layout. It also can be a very expensive part of it, which is why you need to thoroughly evaluate the different options and budget accordingly. Depending on the office furniture vendor that you use you may have the option to rent office furniture or buy it, however how do you know which option makes sense for your business?
Below are 5 reasons why you might consider renting office furniture rather than buying it.
There you are! 5 reasons why renting office furniture might be better than buying office furniture. Most office rental companies make it easy to rent. You typically have a low up front deposit then you pay monthly rent costs. They will deliver and set up the furniture for you, and when you are ready to relocate they will tear it down and move. It’s a great alternative to buying and allows you to focus on your business. Just like how renting office furniture has its benefits renting Austin office space might be a better option than purchasing it. If you would like help in determining whether you should lease or buy office space give us a call at 512-861-0525
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Sometimes when companies begin estimating their office space needs they often overlook the other costs associated with the leasing office space. Your monthly rent will be the biggest expense you incur however there are other things to consider that you will have to pay for as well. By budgeting these costs now you will avoid any surprises and and frustration later on.
Below are a few other costs to consider when leasing office space.
If you have any questions about leasing office space in Austin Tx feel free to give us a call.
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When renting Austin office space you typically fall into one or two of the following categories:
Regardless of your current situation one of the first questions I get is “How much does it cost to lease office space in Austin, Tx?”
Austin Commercial real estate markets change. Sometimes you have a high vacancy rate and lower lease rates and sometimes vacancy rates are low which means lease rates are higher. When starting your Austin office space search it’s important that you spend the time necessary to learn the market or hire an Austin tenant representative with experience so you can arm yourself with the information, tools, & resources that will give you the leverage needed negotiate the best deal.
If you click on the links above you will learn a ton of valuable information. In a nut shell there are several different types of leases that differ in what the landlord is responsible for payment of vs what the tenant is responsible for paying for. It’s important that you understand each one and how they will affect your monthly rent. The same goes for how the monthly office rent is calculated. Depending on the type of lease the calculations will vary. In addition the type of space has an impact on your monthly rental costs. Class A space is going to be the nicest and most expensive while class C office space will be the oldest and least expensive.
Read the posts I put together on each of those topics. After learning then when you look at the post with the average office space lease rates in Austin then it will all make more sense.
If you have any questions feel free to call 512-861-0525
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— Nathan K Smith (@AustinTenantAdv) January 27, 2018
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— Nathan K Smith (@AustinTenantAdv) January 21, 2018
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— Nathan K Smith (@AustinTenantAdv) January 20, 2018
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Are you searching for Austin commercial property listings for sale? If so let us help you. Just call us or email us and we can get started right away.
We specialize in helping buyers & investors search, select, and negotiate the purchase of commercial property listings in Austin, Tx. Because our fee is paid for by the property building owners (sellers) our services are free to you, however our fiduciary duty is to represent your best interests. Unlike other commercial real estate agents we have no conflict of interest since we do not represent commercial property owners. We only represent your best interests and are able to provide unbiased opinions on every property and give you insider information that they are not allowed to since they represent the owners.
There are millions of square feet of commercial real estate for sale in and around Austin, Tx. You could spend a lot of time searching on your own driving around or searching the internet only to find outdated or inaccurate Austin commercial real estate listings. OR……..let us help you simplify the process. We will save you a ton of time, help you avoid costly mistakes, and negotiate the best deal possible. To help get you started read our guide on buying commercial property.
Then when you are ready
Whether you are looking to buy Austin office space, industrial property, or retail buildings we gotcha covered. We pay to have access to all the major commercial listing databases in Austin, have relationships with all the brokers in town, and keep a pulse on the market so we know what is available and when. We have been doing this for over 12 years so you will be in good hands. Give us a call (512) 861-0525 or fill out our website form and we will get started right away!
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I just attended a Bisnow event where a panel of 5 commercial real estate professionals talked about the future of office space. The discussion evolved around a lot of the same trends we see occurring in the industry and office marketplace such office space designs to be collaborative, social, productive, amenity focused, etc. Below will give you the gist of what was discussed and insight into how industry professionals are talking and thinking about the future of creative office space.
The panel consisted of:
Overall the panel was all in agreement that companies (especially in Austin, Tx where there is fierce competition for talent) must continue focus on office spaces designed to recruit and retain employees. Below are some of the key takeaways:
If you would like to learn more about office space trends and what impact they will have on your business don’t hesitate to reach out to discuss. If you need help with your Austin office space search just fill out our form or call 512-861-0525
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— Nathan K Smith (@AustinTenantAdv) January 18, 2018
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As you search for retail space you will find that landlords operate their retail shopping centers differently. Meaning they don’t all do the same thing. That is why it’s important to understand the nuances of how each landlord manages their retail center, what costs they are responsible for, what costs tenants responsible for, etc. To help get you started below are a few questions to ask landlords when leasing retail commercial real estate.
These are just a few of the questions you should ask landlords when renting retail space. If you have any questions or would like help searching for retail space in Austin, Tx feel free to give us a call at 512-861-0525
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When renting commercial retail space IN ADDITION to paying pre-negotiated base rents Tenants are also responsible for paying their pro-rata share of triple net charges (NNN). Triple nets are the taxes, insurance, and common area maintenance charges that Landlord’s pass 100% of the costs to Tenants.
The common area maintenance (CAM) charge is one of the net fees charged to Tenants in a commercial retail triple net (NNN) lease mainly consists of the maintenance fees for work done on the retail property’s common area. Each tenant is only responsible for their prorata share which is the percentage of the tenants rented space vs the total square footage of the property.
Below is an example of how you will typically see common area maintenance charges defined in a retail space commercial lease contract.
In addition to the rents and other charges prescribed in this Lease, Tenant shall pay Tenant’s proportionate share to Landlord all of the costs of operation and maintenance of the Common Area (“CAM”) which may be incurred by Landlord in its discretion. CAM shall include, without limitation, all sums expended in connection with: service and maintenance contracts, including, without limitation, windows and general cleaning, removing of snow, ice, debris and surface water, security police (if and to the extent Landlord provides security), electronic intrusion and fire control and telephone alert systems; machinery and equipment used in the operation of the Shopping Center; storm, sanitary and other drainage or detention systems, sprinklers and other fire protection systems, irrigation systems, and electrical, gas, water, telephone and other utility systems; off-site improvements (including off-site detention areas, drainage and detention ponds, landscaping and traffic signals), and the costs incurred by Landlord for maintenance and operation of and/or contributions to such costs maintained by others for any offsite improvements serving the Shopping Center; traffic regulation, directional signs and traffic consultants; permits, program services, and loudspeaker systems; paving, curbs, sidewalks, walkways, roadways, roofs, parking surfaces (including repaving, sealing, striping and patching); lighting facilities; signage; all costs and expenses allocable to any Declaration of Easements, Covenants, Conditions and Restrictions filed against the Shopping Center as amended from time to time (the “ECR”); margin taxes; the cost of compliance with any accessibility statute including, without limitation, the Americans With Disabilities Act and the (State) Accessibility Standards); all costs and expenses of water or other common utilities; uniforms, supplies and materials used in connection with the operation and maintenance of the Shopping Center; advertising, seasonal decorations, whatever management fee Landlord pays to the manager of the Shopping Center, CAM fees, an administrative fee equal to fifteen percent (15%) of CAM, and a reasonable allowance for Landlord’s overhead costs and the cost of any insurance for which Landlord is not reimbursed pursuant to Section 6.2, but specifically excluding all expenses paid or reimbursed pursuant to Article VI. In addition, although the roof(s) of the building(s) in the Shopping Center are not literally part of the Common Area, Landlord and Tenant agree that roof maintenance, repair and replacement shall be included as a common area maintenance item to the extent not specifically allocated to Tenant under this Lease nor to another tenant pursuant to its lease. With regard to capital expenditures (i) the original investment in capital improvements, i.e., upon the initial construction of the Shopping Center, shall not be included and (ii) improvements and replacements, to the extent capitalized on Landlord’s records, shall be included only to the extent of a commercially reasonable depreciation or amortization (including interest accruals commensurate with Landlord’s interest costs). The proportionate share to be paid by Tenant of CAM shall be computed on the ratio that the total floor area (all of which is deemed “leaseable”) of the Demised Premises bears to the total leaseable floor area of all constructed buildings within the Shopping Center (excluding, however, areas owned or maintained by a party or parties other than Landlord); provided that in no event shall Tenant’s monthly payment of CAM be less than the amount specified in Section 1.1(o) above. If this Lease should commence on a date other than the first day of a calendar year or terminate on a date other than the last day of a calendar year, Tenant’s reimbursement obligations under this Section 7.4 shall be prorated based upon Landlord’s expenses for the entire calendar year. Each month during the term of this Lease, at the same time and in the same manner as with the monthly installments of Minimum Guaranteed Rental, Tenant shall pay to Landlord one twelfth (1/12) of the estimated CAM for the current year which Landlord may have given Tenant for the current year or, if the CAM has not been estimated by Landlord, then Tenant shall pay one twelfth (1/12) of the actual CAM for the immediately preceding calendar year. Each CAM payment shall be due and payable at the same time and in the same manner as the payment of Minimum Guaranteed Rental. The amount of Tenant’s proportionate share of the initial CAM shall be as set forth in Article I above. Landlord may at its option make monthly or other periodic changes based upon the estimated annual CAM, payable in advance, but subject to adjustment after the end of the year on the basis of the actual cost for such year, as set forth in Article VI above as to payments of taxes, real estate charges, and insurance.
If you have any questions about common area maintenance charges when leasing retail commercial real estate give us a call and we will help get you up to speed.
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Shelby Tonja thanks for following me on Twitter! https://t.co/cFzl8ftAWc
— Nathan K Smith (@AustinTenantAdv) January 17, 2018
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When leasing commercial real estate having a more flexible lease will allow you to ensure the the building you lease space from will accommodate your current and future needs. Flexibility is key especially if you have a company with unpredictable growth. Below are a few ways to make a commercial lease more flexible for your business.
The above are a few ways make a commercial real estate lease more flexible for your company. Just remember you will have to know how to negotiate these items. Having a commercial real estate tenant representative help you can increase your chances of success and their service does not cost you anything.
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When leasing commercial real estate you will find that most landlords prefer longer commercial leases. If you are an existing, financially sound company that has been in business for over 5 years signing a longer commercial lease is not a big deal. However if you are a new business or startup company predicting the success of your company beyond 2-3 years can be quite challenging. Below are a few reasons why landlords prefer longer commercial leases.
Now that you know why landlords prefer tenants to sign longer commercial real estate leases you have to decided what is best for your business. Don’t force yourself to sign a longer lease than necessary especially if it does not make business sense. I know you may really like one particular building that requires a 5 year lease, however if you are unsure about the future of your business then you will be setting yourself up for failure by signing a long lease. If the landlord will not budge on the required lease term then find a building that will be more flexible.
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When determining which commercial space is right for your business there are a lot more things to consider than just the rental rate. Landlords know that most tenants are not familiar with the intricacies of commercial leasing and if you don’t take the time to ask the right questions you could be taken advantage of. Keep in mind the landlords goal is to negotiate the most money out of the deal as they can. The more money they make the better their return on investment. As a tenant you want to negotiate the lowest out of pocket expense and lease terms that give you as much control as possible. To help get you started below are a few questions you need to ask in order to negotiate the best deal possible.
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Most companies and small business owners that negotiate commercial leases on their own do so at a huge disadvantage. For one since they typically only sign a lease once every 3-5 years they don’t have as much transaction experience as an experienced commercial real estate agent that negotiates commercial leases for a living. I’ve been doing this for over 12 years and been involved in over 400 commercial lease negotiations. Because of that I often find myself in similar situations and know exactly how to negotiate them, however I also learn a better or different way to negotiate in certain situations every time.
Another reason “do-it-your-selfers” are at a disadvantage in commercial lease negotiations is because of their lack of market knowledge. Commercial real estate markets change every year. Building owners change. Tenant markets turn into landlord markets, Listing agents change. A full time commercial agent keeps up with market trends and transactions. They keep up with new building owners and learn their investment strategies which is key to knowing how to negotiate with them.
All that being said knowledge is key to knowing how to get leverage in commercial lease negotiations. If you insist on negotiating on your own I want to make sure you are prepared so below are a few ways for you to get leverage in your next commercial lease negotiation.
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— Nathan K Smith (@AustinTenantAdv) January 9, 2018
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Every year companies do performance reviews, budgeting reviews, sales plans, etc, however I’ve never heard of one doing an annual review of their commercial lease. Your commercial lease is one of your biggest financial and contractual obligations and it should not be overlooked or forgotten. Depending on your current size and future plans there are certain leases clauses that may have been pre-negotiated and if overlooked or any important dates are missed you could put your company in jeopardy.
After signing a commercial lease most tenants simply file away the contract and never look at them again. Then later on when something comes up they can never find the lease. Ideally you want to store the lease in a secure file that will be easy to find later. And every year you want to do a thorough review of your commercial lease so you don’t forget important dates, deadlines, terms, & conditions.
At the end of the day it’s important that you have read your commercial lease contract and fully understand all the important dates, deadlines, terms, and conditions. Missing one or more of these could potentially disrupt your business. To be more proactive dig up your commercial lease each year and review it from top to bottom to make sure you have not missed any important details.
If you have any questions about your existing lease or need to find and rent Austin office space feel free to contact us at 512-861-0525
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— Nathan K Smith (@AustinTenantAdv) January 3, 2018
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The Overlook at Barton Creek is a new class A office building located in Southwest Austin at 317 Grace Lane Austin Tx 78746. It’s located off of Bee Cave Road near the entrance of Barton Creek and has sweeping hill country views from every floor.
If you are interested in starting your office space search at The Overlook at Barton Creek or other areas nearby call 512-861-0525 for help. We can help you find the right space within your ideal size, layout, and budget.
Building Size – 60,168 RSF
Building Height – 2 floors
Typical Floor Plate – 2,500 to 27,000 rsf
Parking – 3.5 per 1,000 sf structured / covered parking
Amenities – Common area fitness center, showers, and bicycle parking. Nearby tons of retail and restaurants
Transportation – Near one of the most affluent and beautiful areas in Austin equidistant to Hwy 71, RR 620, and Capital of Texas Hwy (Loop 360). 10 minutes from the Hill Country Galleria and Westlake.
For information about this Austin office building or others in SW Austin feel free to contact us. We can help you search for and find the best southwest Austin office space that is within your ideal size, layout, and budget.
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Most startup founders get pumped when launching a new business however searching for office space may not be at the top of their list of exciting things to do. Unfortunately renting office space is necessary if your startup wants to grow and hire new employees. There are many things to consider when leasing startup office space such as size, location, amenities, employee needs, timing, etc. however the FIRST question is when should the founder of a new startup company start looking for office space to rent? The simple answer to this is much sooner than you think. There is a lot that goes into renting office space and below are some general guidelines.
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— Nathan K Smith (@AustinTenantAdv) January 2, 2018
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— Nathan K Smith (@AustinTenantAdv) January 2, 2018
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Galleria Oaks is a 2 building commercial office property located at 13215 Bee Cave Parkway in Bee Cave Tx 78738. If you are looking to rent class A office space in Bee Cave you have come to the right place.
If you are interested in renting office space at Galleria Oaks give us a call at 512-861-0525 and we can help you determine your ideal office space needs and negotiate the best deal possible.
Building Size – 2 office buildings each with 73,964 RSF of class A office space
Building Height – 3 stories each
Typical Floor Plate – 24,800 RSF
Parking – Parking ratio of 4:1,000 sf. 100% structured parking garage
Amenities – Located in the heart of the Texas hill country and adjacent to the Hill Country Galleria that has over 60 retailers and restaurants for breakfast, lunch, and dinner.
Walking Distance To – Hill Country Galleria and Bee Cave Park
Transportation – 20 to 30 minutes to the Austin Bergstrom International Airport and to downtown Austin.
For info on available spaces or help in searching for and leasing office space in Southwest Austin or Bee Cave Tx give us a call or fill out our website form.
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