Finding the Perfect Commercial Space – Tips for Buyers & Tenants on Working with an Experienced Broker

Securing the right commercial space is a critical decision for any business. Whether you’re launching a startup, expanding your operations, or relocating, the right property can significantly influence your success. Working with a commercial real estate broker can streamline this process and ensure you find a space that aligns with your needs. Here are some essential tips for tenants working with an experienced broker to find the perfect commercial space.

Define Your Requirements

Before engaging with an broker, you may want to get a clearer understanding of your business needs. Consider the following:

• Location: Identify the best areas for your business based on customer demographics, competition, and accessibility
• Size & Layout: Determine the amount of space that you need and any specific layout requirements.
• Budget: Establish a budget that includes rent, utilities, and any potential renovation costs.
• Amenities: Make a list of necessary amenities such as parking, security, and technological infrastructure.

Having these details sorted will help your broker find spaces that meet your criteria.  If you’re unsure of your needs, don’t worry!  An experienced broker will know all the right questions to ask to help you define your requirements so that you can move confidently into the search for your new space.

Choose an Experienced Broker

Not all brokers are the same and finding the right one can make a significant difference. Look for brokers who:

• Specializes in Commercial Real Estate: Ensure they have experience in the commercial market, particularly in your industry.
• Have Local Market Knowledge: A broker with local expertise will have better insights into the best locations and fair market prices.
• Are Reputable: Check their track record, read reviews, and ask for references.

A well-chosen broker can provide valuable advice, negotiate favorable terms on your behalf, and be the crucial factor that defines whether your experience seeking commercial space is positive or negative.

Communicate Clearly and Frequently

Open and regular communication with your broker is key. Provide detailed feedback on the properties they show you and be honest about your likes and dislikes. This will help them refine their search and find a space that truly fits your needs.

Understand Lease Terms

Commercial leases can be complex, and it’s important to understand the terms before signing. Discuss the following with your broker:

• Lease Length: Consider the pros and cons of long-term vs. short-term leases.
• Rent Increases: Be aware of any clauses that allow for rent increases and how they are calculated.
• Maintenance and Repairs: Clarify who is responsible for maintenance and repairs.
• Exit Strategies: Understand the conditions under which you can break the lease or sublease the space.

A qualified broker can help explain these terms and ensure you don’t counter any surprises down the line.

Negotiate Effectively

Your broker can be a valuable ally in negotiations. They can help you secure favorable lease or sale terms such as rent reductions, tenant improvement allowances, or free rent periods. Be prepared to compromise on some aspects, but ensure your essential requirements are met.

Conduct Due Diligence

Before finalizing any agreement, conduct thorough due diligence. Visit the space multiple times, ideally at different times of the day, to assess factors like noise levels, traffic, and overall suitability. Additionally, review the property’s history, including previous tenants and any potential issues with the building.  A great commercial broker will know exactly what to look for.

Plan for Future Growth

While it’s important to find a space that fits your current needs, also consider your future growth. Discuss with your broker the possibility of expanding within the building or negotiating flexible lease terms that allow for growth.

The ERES Difference

As you can see, finding the perfect commercial space involves careful planning, clear communication, and strategic negotiation.  By working closely with a knowledgeable and experienced broker, you can navigate the complexities of the commercial real estate market and secure a space that supports your business’s success.

ERES understands that the right space can provide a strong foundation for your operations, enhance your brand image, and contribute to your overall growth and success.  That’s why we rely on our full array of services to elevate our clients CRE experience to the next level.  From consulting & advising to optimizing spatial footprints, enhancing space design and function, keeping assets properly maintained, managing site projects from start to finish, and all the things in between, the ERES team is here to support all of your business real estate needs.  Want to learn more?  Visit www.erescompanies.com today!

Green Buildings | Sustainability in Commercial Real Estate

In the contemporary landscape of real estate, the term “green building” has emerged as more than just a buzzword. It’s a tangible manifestation of the growing awareness and commitment towards sustainability within the commercial real estate sector. From towering skyscrapers to quaint office spaces, the principles of eco-friendliness and energy efficiency are reshaping the way buildings are designed, constructed, and operated.

The Evolution of Sustainable Building

The concept of green buildings is not a recent phenomenon.  Its roots can be traced back to the energy crisis of the 1970s when the focus shifted towards reducing energy consumption in buildings.  However, it wasn’t until the late 20^th & early 21^st centuries that the green building movement gained significant momentum.  Today, it’s an integral part of the global sustainability agenda.

Driving Forces Behind Green Buildings

Several factors have propelled the adoption of green building practices in commercial real estate:

1. Environmental Concerns: With climate change becoming an increasingly urgent issue, reducing the environmental footprint of buildings has become imperative.  Green buildings aim to minimize resource consumption, reduce greenhouse gas emissions, and preserve natural habitats.
2. Regulatory Pressures: Governments around the world are enacting stringent regulations and building codes to promote sustainability.  These regulations often include mandates for energy efficiency, water conservation, and waste reduction, compelling developers and building owners to embrace green building practices.
3. Financial Incentives: Beyond regulatory compliance, there are financial incentives for investing in green buildings.  Lower operating costs, higher property values, and access to tax credits and grants make green buildings economically attractive.
4. Tenant Demand: Tenants, particularly in the commercial sector, are increasingly prioritizing sustainability in their leasing decisions.  Green buildings offer healthier indoor environments, which can lead to increased employee productivity & happiness, and reduced absenteeism.  Additionally, businesses are keen to align their operations with sustainable values to enhance their brand image and attract talent.

Key Features of Green Buildings

Green buildings incorporate various design and technology features aimed at enhancing sustainability:

1. Energy Efficiency: Implementing energy-efficient HVAC systems, lighting, and insulation can significantly reduce energy consumption and operational costs.
2. Water Conservation: Strategies such as rainwater harvesting, greywater recycling, and low-flow fixtures help minimize water usage and alleviate pressure on local water sources.
3. Material Selection: Opting for sustainable and recycled materials, as well as using locally sourced materials, reduces the environmental impact of construction and supports the local economy.
4. Indoor Air Quality: Green buildings prioritize indoor air quality by utilizing ventilation systems, low-emission materials, and proper building maintenance practices to create a healthier indoor environment for occupants.

The Future of Sustainable Building

As the global focus on sustainability intensifies, green buildings will continue to evolve and proliferate.  Emerging technologies such as smart building systems, advanced energy storage solutions, and integrated renewable energy grids will further enhance the efficiency and resilience of green buildings.

Challenges and Opportunities

While the benefits of green buildings are undeniable, challenges remain in their widespread adoption.  Initial costs, perceived complexity, and a lack of awareness among stakeholders are common barriers.  However, these challenges also present opportunities for innovation and collaboration across the industry.

The ERES Difference

ERES is passionate about helping its clients navigate potential challenges and finding practical, cost-effective green solutions for all the commercial projects and properties managed by their team. ERES’s attainment of LEED certification (Leadership in Energy & Environmental Design) underscores this commitment and sets a benchmark for excellence in green building practices.  LEED-certified buildings are recognized for their sustainability achievements and often enjoy benefits such as lower operating costs, increased property values, improved indoor air quality, and enhanced occupant comfort and satisfaction.  Additionally, LEED certification aligns with corporate sustainability goals, regulatory requirements, and market demand for green buildings, making it a valuable asset for developers, owners, tenants, and communities alike.

Learn more about working with ERES on your next green project at www.erescompanies.com

ERES Companies Recognizes ExxonMobil as Client of the Year

ERES Companies, a vertically integrated commercial real estate company, proudly announces ExxonMobil as the esteemed recipient of their “Client of the Year” award.  This accolade is a testament to ExxonMobil’s unwavering commitment to excellence and collaborative partnership with ERES Companies.

ExxonMobil has consistently demonstrated outstanding dedication to innovation, sustainability, and mutual growth throughout its partnership with ERES and its leadership team over the last decade.  Their steadfast support and trust in ERES have significantly contributed to shared successes in multiple markets worldwide.

“We are honored to present ExxonMobil with the Client of the Year award,” said Tim Brekel, Executive Vice President of Project Management at ERES Companies.  “ExxonMobil’s visionary leadership and pursuit of exceptional standards have been instrumental in driving our joint achievements.  This award reflects our appreciation for their partnership and the meaningful impact we continue to create together.”

ERES CEO, Mike Elliott, added, “We look forward to building upon our successes with ExxonMobil and further enhancing our partnership.  Together, we are poised to explore new opportunities, overcome challenges, and achieve even greater milestones.  We are excited about the possibilities that lie ahead and grateful for all the trust ExxonMobil has placed in the ERES team.”

ERES Companies extends their heartfelt congratulations to ExxonMobil on this well-deserved recognition.  They remain committed to delivering innovative solutions, unparalleled service, and value-added expertise across the full breadth of projects and look forward to furthering a synergistic relationship with ExxonMobil for years to come.

To learn more about ERES Companies, visit www.erescompanies.com/about.

ABOUT ERES Companies

ERES Companies delivers full scale real estate solutions to organizations and investors across the globe, with particular emphasis on emerging, secondary, and tertiary markets.  Our expertise is multifaceted, providing clients with invaluable insights across a variety of disciplines including brokerage, investment and development, project management, construction, property management, and workforce housing.  With ten offices in North and South America, including our newest offices in Sarasota, FL and Bozeman, MT, ERES is growing and adapting to the ever-changing needs of our clients, partners and their communities.  For more information, visit www.erescompanies.com.

How Construction Technology is Transforming Project Management for Remote Workers

Project management has traditionally been associated with on-site supervision, hands-on coordination, and face-to-face interactions. However, with the rapid advancement of construction technology, remote project management has emerged as a viable and effective approach for overseeing construction projects from afar. From innovative software solutions to cutting-edge monitoring systems, let’s explore how construction technology is transforming project management for remote workers.

360 Views of Construction Sites

In commercial real estate development, the ability to remotely access construction sites in 360 degrees is revolutionizing project oversight. Advanced technologies, such as drones, IoT sensors, and time-lapse cameras, provide real-time data and visual insights into construction activities, site conditions, and safety compliance. These systems empower remote workers to identify issues, anticipate delays, and address challenges proactively.  This level of accessibility enhances collaboration among project teams and expedites decision-making processes, ultimately accelerating project timelines.

Mobile Application and Field Management Tools

Mobile applications and field management tools empower remote workers to access critical project information and perform essential tasks from their mobile devices. Construction management apps enable remote project managers to create and assign tasks, track work progress, and generate reports on the go. With mobile technology, remote workers can streamline communication, workflows, and maintain productivity even when they’re away from the office or job site.

Cost Savings on Travel Expenses

Technology-driven remote working solutions offer significant cost-saving opportunities for users. Reduced need for project site travel and meetings helps organizations minimize expenses associated with transportation, accommodation, and logistical arrangements. This cost-efficient approach not only enhances financial performance but also promotes sustainability by reducing carbon emissions associated with business travel.

Weekly Project Updates

Regular communication and progress tracking are fundamental to successful commercial real estate projects. Technology enables project managers to conduct weekly meetings, share progress reports, and address challenges in real-time, regardless of geographical constraints. This structured approach fosters accountability, and stakeholder engagement, driving momentum and ensuring alignment with project objectives throughout the development lifecycle.

ERES has embraced the advances in construction technology and can speak directly to how they empower project management professionals to navigate the complexities of remote working with confidence and agility. Through the exploration of these innovative solutions, we have been able to optimize efficiency, enhance collaboration, and drive value across a multitude of projects. As the digital landscape continues to evolve, the integration of technology will remain instrumental in shaping the future of commercial real estate and project management practices.  ERES is excited to continue learning and evolving as new technology trends emerge.  Learn more about our project management capabilities today.