03 Dec What is the difference between a triple-net (NNN), a modified gross, and a full service lease?
There are three main types of leases for commercial space: a triple-net (NNN), a modified gross, and a full-service. When it comes to understanding what each covers, it helps to think of it as a sliding scale. I’ll explain each in more detail below. NNN Lease A NNN lease essentially means that all of the expenses related to the building are going...
28 Nov What are some advantages to OWNING office space rather than leasing?
Deciding whether to buy or lease a building can be one of the biggest decisions you’ll make as a business owner. While there are advantages to both and your decision will be based on a number of factors that determine what is best for you, the biggest advantage to owning office space is that...
27 Nov What are some advantages of leasing an office space for my business rather than owning?
The advantages of leasing an office space rather than owning it are similar to residential where you’re renting rather than buying your home. Namely, you won’t be responsible for as much maintenance, and when the lease term is up, you can leave. When leasing a space, the landlord will take care of a lot of the maintenance. Depending on the type...
25 Nov When purchasing an office condo, what are some things to look out for?
Many office parks in Baton Rouge are part of an already established condominium regime. If you’re considering purchasing an office building in one of these established condominium regimes, there are a few things to consider and ask about. The question that you’ll want to start with is: What are the dues for the association on a monthly basis? From there, you’ll...
18 Nov What’s the best way to negotiate for a lower rent for my office space?
I have three suggestions for negotiating a lower rent for your office space: Go with a longer term lease. Commercial property leases can range from 1 year to 10 years. For a landlord, a shorter lease means that they’ll have to put work and marketing money into finding a new tenant sooner rather than later. This may mean that a shorter term...
15 Nov What amenities should I add to my office building to attract top businesses?
The answer to this question really depends on the specific market and type of business you’re targeting. In a large market like New York or San Francisco, the focus is on “smart” buildings. Buildings include things like temperature control, access control, very energy efficient windows. All things that make the building nicer and more secure. In a market like Baton...
11 Nov What is the typical lease term for office space?
This is kind of a trick question. Unlike residential real estate where leases are typically for 1 year, lease terms for commercial real estate vary widely. Many times, the lease term will depend on the building type, whether it’s a one story garden type office or a multi-story/multi-tenant building that you’d see downtown and other areas of Baton Rouge. Lease terms...
11 Nov Can I request my landlord to make upgrades to my office space before I move in?
Generally, office space is tailored to each specific businesses' needs whether it be small things like paint colors or big things like locations of walls and offices. When you’re moving into a new office space, it’s likely that the decisions that the previous business made for the space will not meet your needs for the space. Because of this, you...
14 Aug How To Save Money When Re-Signing Your Office Lease
For most businesses, the primary office space is a hub, home base and vital part of daily operations. However, leasing an office can be a company’s largest business expense. So, when it comes to re-signing your office lease it is important to be prepared. The following 5 tips will not only help you when re-signing your office lease but allow...
17 Jul How To Find The Perfect Office Space For Your Business
Your company office space reveals crucial details about the culture and brand. Where your company chooses to make its “home away from home” impacts client/customer experience, employee morale, and ultimately your overall success. Whether you have decided to expand into your first office space or find a new space that is more aligned with your needs, it is vital to...
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