Commercial leasing agents?

[doubleshot]

What, exactly, am I looking for in an agent to help me find a place? Any pitfalls.

I'll be asking friends and my residential agent for referrals, but also want your advice.

Thanks,
Scott

 

[GeorgeW]

My advice:
1st - don't let your residential agent talk you into using them (unless they are accomplished commercial realtors as well).
2nd - don't be afraid to dump your agent if they aren't working for you (we went through three agents who were unresponsive and/or useless. Commercial coffee space is generally smaller space and depending on the office, the agents may be more interested in leasing larger spaces.
3rd - you don't neccessarily need a commercial realtor - most of the space is listed online, you might be able to cut a better deal with the landlord if they don't have to pay that realtor commission.
4th - Getting a lawyer to review the lease probably isn't a bad idea, even if you have a very knowedgable agent.

 

[GeorgeW]

Oh yeah, forgot 5

#5 Don't settle on your location! Make sure you are happy with it, so take your time to find the right one....nothing will improve a store in a bad location.

 

[barefoot]

scott:

try calling the agent listed on the top three killer locations that you want and talk to them. they will be who you will likely be dealing with anyway and they lease small space already.

 

[harryh]

HI...old thread, but I am looking for good sites to help find space to rent for small coffee shop and small industrial space for roasting.
Thanks,

 

[Flori]

hi harryh, you may want to check craigslists or search for the locations you are targetting on for your future shop. goodluck.

flori
blogger, coffeeloversofworld.com

 

[CoffeeJunky]

There are many pro and con to have your own agent.

Pro.
1. You can always negotiate the lease on your terms. You can ask much more when you are not actually talking to your landloard.
2. Most of the time your agent will work on your behalf. Without them, you will need to do all your due diligent on your own. (Not all the agent will do this)
3. Your agent can also compare price around for you. What is available and how much it cost.
4. If he/she is experienced agent, they can tell you the property history or type of business is coming or going in the area. This will ultimately help you project your profitability.

Con.
1. Their commission is 1 month per 12 months lease. (normally) They will always try to have you sign 5 year lease plus 5 years option or longer to maximize their commission.
2. You can do most of their work if you have more time on your hand. It is not rocket science.
3. They can also hurt you by giving false security.

There are many more cons and pros to have your own agent when you are looking for commercial space but if you know of very experienced, honest and hard working agent, it will be your advantage to have one.
I personally always use agent to find, negotiate, and purchase my commercial building.

Good Luck

 

[graham]

In my previous life I was a commercial real estate lease auditor. I even audited a ton of leases for Starbucks and helped recover tens of thousands of dollars of over-payments. I don't do that work anymore but if anyone is wondering if they're paying more than they should on their lease I'd be happy to help!