How We Can Help You Achieve Your Goals for Your Commercial Space
CTG Real Estate Services specializes in finding and preparing commercial real estate for prospective buyers or tenants like yourself. We know how critical the right office environment can be for the productivity of a company, and we want to partner with you to make that a reality.
However, before diving into the intricate details of finding and creating the perfect commercial real estate property for your goals, we want to make sure that you fully understand exactly what commercial real estate is and how it can be best served for your needs and desires. You can always schedule a consultation with Chris Gardner for personalized commercial real estate information, but we’ve also answered some of the most commonly asked questions about commercial real estate below to help you learn more.
What is Commercial Real Estate?
A general commercial real estate definition is any property that is intended solely for business purposes. These properties are usually purchased to lease out to those in need of a professional workspace.
While CTG Real Estate typically deals with office spaces, commercial real estate can include everything from retail centers — like gas stations and shopping malls — to hotels to restaurants. On average, leases for American commercial real estate average between five and 10 years. Before searching for commercial real estate properties, prospective buyers and tenants should understand the basics of commercial real estate leases:
- A single-net lease typically makes the tenant responsible for paying property taxes.
- A double-net lease typically makes the tenant responsible for paying property taxes and insurance.
- A triple-net lease typically makes the tenant responsible for paying property taxes, insurance and maintenance.
- A gross (also known as a full-service) lease typically makes the tenant responsible only for rent, and the landlord pays for the building’s property taxes, insurance and maintenance.
As with other kinds of real estate properties, real estate commercial property is divided into different classes depending on the state of the building’s aesthetics, age, quality of infrastructure and location.
The kind of commercial real estate building you seek will be determined by your personal goals and needs.
How Does Commercial Real Estate Work?
Understanding commercial real estate is a key prerequisite to joining the commercial real estate industry, whether as a potential buyer or tenant.
As mentioned, commercial real estate owners typically buy whole buildings and then lease out sections to individual tenants. These tenants can and usually do choose to modify their spaces. Each tenant has different goals and needs when it comes to the design of the space, which is where a commercial real estate professional like Chris Gardner comes in.
The process of renovating a space must be one that a prospective tenant and their new landlord are comfortable with. Typically, commercial real estate owners will modify value-add properties in order to present a better product to potential tenants (therefore, charging more monthly rent), but not all spaces will be move-in ready for new tenants based on their individual needs. Turnover is costly to commercial real estate owners, so many work closely with new tenants to present opportunities for a space that will be long-lasting.
Generally, a tenant will work with a commercial real estate company to locate a space, sign a lease, design it to their needs and then set up any management services that are needed — all while communicating with their new landlord. Not all commercial real estate companies offer all of these necessary services. CTG Real Estate Services does.
What Commercial Real Estate Services Does Our Company Offer?
CTG Real Estate Services commonly works with tenants who are seeking a new commercial real estate space that they can design to their specifications. Unlike other professionals, our company goes beyond the initial step of locating commercial real estate properties to assist those tenants with designing and managing their new space — a process we call our “turnkey solutions.”
Those who are looking to buy commercial real estate must always determine their asset criteria, or exactly where they wish to be and how much they wish to spend. Similarly, those looking to lease commercial real estate space must identify their desired locations and amenities. Once these aspects are addressed in an asset criteria form, our professionals can move forward with our unique commercial real estate turnkey process.
CTG Real Estate Services can work with tenants through every step of their relocation process, including:
- Finding a space
- Signing a lease
- Creating a space design
- Hiring vendors and contractors
- Planning for future growth and unexpected situations
- Managing the move and decommissioning old spaces
There are a lot of steps involved in leasing a new private commercial real estate space, and those who are unfamiliar with the process can easily forget critical steps. If you work with CTG Real Estate Services, that won’t be the case. Our professionals’ experience and knowledge will help you meet your goals and expectations, leaving you in a place where you can easily manage your new location moving forward.
We will also help you recognize up front the many commercial real estate fundamentals that will be necessary in your individual journey. We won’t waste time showing you spaces you can’t afford or are not prepared to renovate; we will only do what’s best for you.
To learn more about how CTG Real Estate Services can assist you in your commercial business real estate endeavors, please schedule a consult with our professionals today.