Why You Should Conduct a Yearly Commercial Lease Review

The following post is copyrighted by Austin Tenant Advisors - .

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.

Annual Commercial Lease Review Considerations

• Make sure you know your commercial lease expiration date. If not clear ask the landlord what expiration date they have on file and make note of that 
• If you have a renewal option know how many months notice you must give and be sure to not miss that timeline. Typically tenants must give 6-12 months notice of their intent to renew.
• If you plan on relocating you want to make sure you give yourself plenty of time to find a new space and build it out before your existing leases expires
• Do you currently have enough space to meet your needs?
• What options do you have if you need to expand or downsize?
• What are landlord currently quoting for comparable commercial space as the one you occupy?
• If you have a ROFO or ROFR what are the terms and have you been offered them in the last year?

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

The post Why You Should Conduct a Yearly Commercial Lease Review appeared first on Austin Tenant Advisors.

Keith Krach thanks for following me on Twitter! https://t.co/cDgI1JCKIL

Keith Krach thanks for following me on Twitter! https://t.co/cDgI1JCKIL

— Nathan K Smith (@AustinTenantAdv) January 3, 2018

from Twitter https://twitter.com/AustinTenantAdv

The Overlook at Barton Creek Office Space | 317 Grace Lane Austin Tx 78746

The following post is copyrighted by Austin Tenant Advisors - .

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.

The post The Overlook at Barton Creek Office Space | 317 Grace Lane Austin Tx 78746 appeared first on Austin Tenant Advisors.

When Should Startups Look for Office Space?

The following post is copyrighted by Austin Tenant Advisors - .

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.

1. 6-12 months before you need office space start gathering information – Which city do you want to have your office in and in what location? Which class of space makes sense for your startup (class A office, B, or C), What types of amenities do you want or are interested in? Which commercial real estate agents can help you and which have good reputations? Which office buildings or areas of town? What will your growth needs be in 2-5 years? Are you willing to sign a long term lease or as a startup prefer short term office leases?
2. 3-6 months start actively searching for office space – Every city is different as some have less vacancy than others. Also some spaces may need more improvements than others which can take more time so you want to make sure you have plenty of time to look at and compare your options.
3. Moving into a new office has an impact on company culture – So many startup founders underestimate the impact office space has on their company culture. Moving into a new office gets the team excited and gives them a sense of future. The company is growing so there is momentum and it gives the employees something to look forward to. Communicate the office space search and final space 6-12 months before the move in date and give your employees something to get excited about.
4. Have your financials in order 2-4 months before you rent office space – Landlords will want to see your financials so make sure you have them in order. You also want to review them to ensure you can afford a new office or larger office. If you can afford to rent office space then go for it, however keep in mind you do have alternatives such as coworking spaces, executive suites, etc if you are not ready. Bottom line just make sure you have your financials in order months before you are ready to lease office space.

 

The post When Should Startups Look for Office Space? appeared first on Austin Tenant Advisors.

Shelby Tonja thanks for following me on Twitter! https://t.co/cFzl8ftAWc

Shelby Tonja thanks for following me on Twitter! https://t.co/cFzl8ftAWc

— Nathan K Smith (@AustinTenantAdv) January 2, 2018

from Twitter https://twitter.com/AustinTenantAdv

Side Hustling thanks for following me on Twitter! https://t.co/q6AG4RQKEr

Side Hustling thanks for following me on Twitter! https://t.co/q6AG4RQKEr

— Nathan K Smith (@AustinTenantAdv) January 2, 2018

from Twitter https://twitter.com/AustinTenantAdv

Galleria Oaks Office Space | 13215 Bee Cave Parkway 78738

The following post is copyrighted by Austin Tenant Advisors - .

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.

The post Galleria Oaks Office Space | 13215 Bee Cave Parkway 78738 appeared first on Austin Tenant Advisors.