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Commercial Real Estate-Residency Rates

Is your business getting the best rate for your location?You may be considering moving your business location….maybe because they are becoming too small or because you feel they are too expensive.  In the current economic climate, it pays to shop around when looking for a new location.  Property owners are staring at empty buildings and discounting their prices.  Numerous incentives are offered by states and cities, in the form of tax concessions or funding for infrastructure.

Most of the tax concessions are aimed at job creation.  If you are seeking to benefit from these, your business will need to demonstrate that it will employ new people.  Investment grants for infrastructure are available for equipment, renovations, and the extension of utilities, such as electricity and water, to new sites.  These generally cover a fixed percentage of the cost.  Your business will have to pay the balance.

Remember, whether considering a local office move or long distance commercial relocation, cost is only one issue you need to be aware of.  Are you still close to your target market?  What is the quality of life like in your chosen location?  Does your new location have room for future expansion?  Or you may find yourself moving again sooner than you might wish.

Once you have selected your location and a legitimate mover, plan the move down to the last detail.  Remember your business is likely to be less productive than usual during a move and good planning will help you keep this time as short as possible.

Lance Grooms

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