My New Blog

June 28th, 2010 10:17 AM

If office space is what you need there are some questions you need to have answered. 

Many of my customers want a free standing building.  In the smaller sizes that's difficult.  When I say small I mean up to say 3000 sq ft.  If you want smaller your choice will most likely be an office condo.  Otherwise, an office building. 

With both check on the costs and the restrictions.  First be sure the building/condo is operating with a budget.  The size of your unit will dictate what part of that budget (the CAM) you will pay for.  Next what does it include.  The CAM is not a profit center for the owner but a set group of expenses to operate the property. 

Free standing buildings give you a lot of flexibility versus the restrictions you may have in an office building.  In the office building you have to ask questions about the parking (reserved or communal).  What are the hours the building is open, does the AC get turned off at night, is my lease full service or do I carry trash to the dumpster? 

When you have lobbies and common corridors someone has to pay for it.  It's called rentable versus leasable space.  The more lobby and common corridors the higher the "Load" factor on the rent.  Meaning you may have 2500 sq. ft. you use but you will pay for 2610.  Elevator shafts don't count in the load factor. 

A lot to absorb?  Call me, I'll help you sort through it.  My name is Claude Gardner, 386 846 4135.  I specialize only in commercial real estate in the Daytona Market.  Want a question answered, send me a message.  Also, I mentioned yesterday about the perfect space analysis available on my web site.  Don't buy to much space, know what you need. Excess is expensive.  Have a great day.


Posted by Claude J Gardner PA CCIM on June 28th, 2010 10:17 AMPost a Comment (0)

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