To search for and purchase commercial real estate can be a very time consuming process. However, before you buy commercial real estate, there are a number of factors to consider, ranging from the financial health of your own company to the viability of the commercial real estate you have in mind. Most buyers don’t realize that they can receive commercial real estate representation at no expense. Typically the seller pays agents for these services. We provide the representation and consultation services that a buyer needs to negotiate the best price for the property. Our representation includes, but is not limited to, the following services:
- Property Search and Touring Property - Our team has access to the best marketing mediums and property inventory sites in the market. This access allows us to dig deeper into the market to provide a bigger picture on what property is available and how market conditions may affect price. We begin with asking a buyer a series of questions to understand their needs including timing, size, use, acreage and many other specifics that we can use to help us better understand the needs for a business. We then search the market and provide buyers a list of properties that together, we can start to evaluate and determine business and property needs further.
- Determining Value - One of the most important needs for a buyer is helping to understand what a property is worth. What is the market for the type of real estate you are seeking? We will begin by researching zoning, which impacts the potential for the property. Including but not limited to uses, restrictions, setbacks, and approval processes.
We excel at educating buyers on the market. We will be prepared to talk to you about commercial real estate sales in the area and how it might impact the price of a property a buyer should pay for a particular property. It is important to have strong awareness of what is available in the market as it will impact where you could go and what you will pay. Your bottom line is important to us and we want to make sure you get a great piece of real estate at a fair market value.
- Negotiation - It is important to have an intermediary in the negotiation of a commercial real estate transaction. You will find that is typically not in everyone’s interest to be dealing with each other directly. Each side tends to give away more than they should. Our agents have the experience of getting deals done. They have negotiated thousands of contracts and are well suited to help you in all negotiations. We use proposal letter of intents and standard purchase contracts to negotiate timing, conditions and economic terms.
- Connecting - We have hundreds of connections with recommended sources that can help you through the ownership of your real estate including attorneys, accountants, lenders, roofers, paving, electricians, carpenters, plumbers, heating and cooling, government a officials. In order to get a deal completed it is important for the seller to help the buyer navigate all of the buyers inspections, financing & appraisals, and governmental approvals. Our experience allows for a much smoother process of who to talk, when and how long is it going to take.
- Purchase Agreement Due Diligence Coordination:
- Title Company- We will help the title agent communicate and coordinate earnest money deposits, purchase contingency release, extension agreements, payoffs, and closing.
- Lender - We will work with the lender to coordinate inspections, appraisals, property information, appraisal scheduling.
- Physical Inspections-We will help schedule and give access to roofers, electricians, plumbers, HVAC, structural engineer, government, and various professionals to help clarify the condition of the property for the buyer.
- Environmental Inspections - We will help schedule and give access to environmental professionals for Phase1,2 inspections, wetland delineations’, survey’s and other related due diligence.
- Contingency Deadlines & Extensions - We help guide the buyers on their property specific contingencies, like who to call and where to obtain a certain inspection or approval. Many agents will go to the actual governmental approvals meetings to further sell and help get approved uses at zoning meetings or plans at planning meetings for municipalities.
- Closing- We work with the title company to make sure your lender, attorney, insurance agent and many other professionals are doing what is necessary to close the transaction in the time allowed for in the purchase agreement.
Investment real estate can be very exciting, but there are many aspects to consider. Commercial real estate investment is that which generates income or is otherwise intended for investment purposes rather than as a primary place of business (owner occupied). There are many questions that need to be answered before one begins the process of commercial real estate investment.
All of our agents have taken educational courses through the Certified Commercial Investment Member (CCIM) Institute. In addition, most our agents are personally invested in real estate which we believe gives you better expertise and experience on “what to do and what not to do”. We are prepared to represent, advise and guide you on finding the best commercial investment real estate for your situation and desired return on investment.
- Property Search and Touring - Our team has access to the best marketing mediums & available property inventory in the markets we serve. This access allows us to dig deeper into the market and provide a bigger picture for property availability. Our preliminary questions help us to understand your needs which may include timing, size, use, ceiling height, space dimensions, traffic counts and many other specifics that provides us with a guide to help us find you the right property to fulfill specific requirements you may have for a space. We will then narrow down the options, select properties for you and schedule property tours. A physical walk through usually leads us to further detailing your needs and determining what your best options are.
- Determining Value - One of the most important needs for a tenant is helping to understand what a fair market value is to lease space. We are experienced in all property types including retail, office, special purpose and industrial space. Each type tends to demand different values. So we help tenants determine what the market is for the type of real estate they are seeking? Is there competition? Lastly, we can help the tenant structure the term to maximize the control of the space for the long term yet limit the liability if for some reason the business doesn’t work.
- Negotiation - It is important to have an intermediary in the negotiation of a lease transaction. You will find that it is typically not in everyone’s best interest to be dealing with each other directly. Each side tends to give away more than they should. Our agents have the experience of getting deals done. They have negotiated thousands of contracts and are well suited to help you in all negotiations. We use proposal letter of intents to negotiate timing, conditions and economic terms. This helps save attorney expenses until both sides have an understanding of the major terms and as result a lease agreement is more likely to get completed. Once points in a proposal or letter of intent have been agreed to, the landlord will prepare the lease and your agent will review the details with you.
- Connecting - We have hundreds of connections with recommended sources that can help you through your lease negotiation and term including real estate attorneys, accountants, lenders, roofers, paving, electricians, carpenters, plumbers, heating and cooling, government a officials. In order to get a deal completed it is important for the tenant to understand build out expenses, lease agreements and government approvals processes. Our experience allows for a much smoother process of who to talk, when and how long is it going to take to get your business operating as soon as possible.
- Lease Execution/Follow Up - Once the lease is prepared, we will coordinate the signing meeting, typically at that time, we collect the first months’ rent security deposit and provide the keys to the new tenant. Then the checks and the signed leases are delivered to the landlord for their signatures. We will also go over what needs to be done including: utility transfers, zoning permit process, vendor referrals, etc. Gerspacher Real Estate Group agents pride ourselves in staying touch with a new business so that we may help you with any future needs that you may have.