In commercial real estate today there are always companies and corporations looking to change their property location or focus. When that happens, there are some key property decisions to be made by decision makers heading up corporations and businesses.
If you are looking for new business opportunity within your brokerage, connect with the local business owners and the major company leaders locally to understand how their current property will service current and future occupancy needs. Look for businesses going through expansion, contraction, relocation, and the shifting of corporate culture. They are likely to be the businesses requiring property change.
How Long Does a Change of Property Take?
It takes time for any company today to change a property location or move their business location. It directly follows that specialised commercial real estate brokers can assist greatly when it comes to finding the right property at the right time. Sales and leasing opportunities evolve from relocating a business or major corporation today into another location.
The success of any major business relocation can be influenced greatly by the timing of the required property changeover, the lead time to undertake the change, and identification of the correct relocation requirements.
When it has been decided that property relocation will be required, there are many things for a business leader to consider; they will need to cover off on important factors including the best future location, lead times to make the changeover, property improvements, technology, staffing, and timing of the changeover, transport, marketing, and customer needs.
Facilitator for Property Change
I go back to the point that a local property agent or broker will have the information to help that process occur. On that basis companies and corporations can be important sources of new business when it comes to commercial real estate brokerage sales and leasing.
Here are some questions to help your investigations with any company, corporation, or business leader:
- Determine the best location for the business. You should ask key questions to help identify the best location. Where will their clients by coming from and how will they access the business? How will transport for the business impact their ultimate business location or decision? What will be the transport requirements when it comes to staffing and employment?
- Will they want to custom design their own facility taking into account staffing, manufacturing, sales, and business activities? To answer the question you can examine their current location to determine how current building operations would be improved in a new property changeover. Look at the proximity of existing business units within the company or corporation. Understand the relationships between sales, manufacturing, showroom, and warehousing. Some of those business units will need to be in proximity to others.
- Will they have special needs relating to technology and communication? Many businesses today require access to fast Internet connections and complex telephone communication systems. You may need to approach technology companies to consult on the aspects of technology changeover.
- What will be the required configuration of the property taking into account special business units and future expansion? You can seek architectural assistance to design typical fit out layouts to suit a variety of business strategies. It is easy to change something on paper and look at the variables of business function and staffing integration.
- Will the company want to lease or own the property that they are moving to? There are distinct advantages to a company or corporation in both selling and owning a property or warehouse. A lot depends on the structure of the corporation and the future of business locally. Will the company require occupation for the long term or the short term?
- Given that the business will be relocating from a current location, then maybe some property disposal, sales, or leasing needs. Look at the variables and establish a timeline to the process.
- Every business will have certain requirements when it comes to services, amenities, tenancy or premises fitout, and building improvements. Car parking, common areas, access, and staffing will all have an impact on the desirable services and amenities. Establish a checklist to work through; incorporate the specific targets of the business in changing property location.
So there are some specific things to be looked into here to help companies and corporations move business location within your town or city. Identify the priorities that apply to the property changeover and the new company focus. You can service the business comprehensively as they look to find the right property to move to at the right time.