Corporate Brochures
 Commercial Mortgage Terminology (from LendingApps) |
Getting the Right Size Space for Your Business
Understand the terminology and how building features affect how much of a specific commercial real estate space is really available for your needs.
Figuring out if a commercial real estate space, whether in Tucson or elsewhere, is the right size for your business takes more than stretching a tape measure from wall to wall.
First, you’ll need to know some terms.
Gross Square Footage
“Gross square footage” is most typically used with
- warehouses
- industrial buildings
- free-standing retail sites
- other stand-alone buildings.
Typically, the calculation of gross square footage will include the thickness of the sidewalls when measuring the total footprint of the site.
Usable Square Feet vs. Rentable Square Feet
If you’re looking for office space, you’ll discover that the actual square footage for this use is typically less than the amount upon which the rent is based.
The square footage you exclusively use is termed “usable square feet.” The amount upon which the rent is based is called “rentable square feet.”
You’ll need to analyze the lease of both the rentable and the usable square footage of each property to understand which property best fits your space and financial needs.
Other Space Considerations
Columns. An office plan that calls for a high percentage of interior partition walls can integrate the existing columns into the plan with often striking design elements. Open-plan users may find that too many columns in the space can increase the cost of furniture systems and increase their square footage requirements.
Windows. If you want a lot of private offices, you should look closely at how window spacing affects office sizes, particularly if you want a mixture of office sizes. The difference between a 4.5-foot mullion, the divider between windows, and a 5-foot mullion can mean a dramatic difference in office size without a substantial benefit in usability.
Commercial Real Estate Group of Tucson can help you picture your business in an empty commercial space. Contact the tenant representation company to learn more.
Commercial Real Estate Group of Tucson specializes in representing tenants and corporate users across the United States, Latin America, Europe and Asia as a member of ITRA. For more information call 520-299-3400.
Define Your Commercial Lease Requirements
Know what you need in commercial real estate property before you start looking. There are important questions to ask and answer to accurately define your requirements for commercial real estate in Tucson and elsewhere. Committing your requirements to paper before you visit properties will save you time avoid starting in the wrong direction make sure [...]
For more information on this or other real estate articles please visit our sister site at tucson-tenant-representation.com.
Commercial Real Estate Tips: Financing Tips
Paying for Commercial Real Estate
You’ve decided to buy your ideal office, retail or industrial space. Now’s the time to determine how to finance the purchase.
Once you have decided to purchase a commercial real estate space, it’s a good idea to determine how you will pay for the property before getting too involved in the process. Here are some of the more popular methods.
(more…)
Who Really Represents Tenants in an Office Lease?
Hint: It’s not the leasing agent or building owner sitting across you at the negotiating table.
Who represents you, the tenant, when you want to negotiate an office lease in Tucson or elsewhere?
First, we’ll tell you who doesn’t.
Picture yourself in a legal proceeding. You would never hire the same attorney or law firm that your opponent had retained.
Yet many business owners talk to one commercial real estate broker who represents both the building owner and the tenant.
(more…)
Touring the Property
Once you’ve digested the information about Tucson or other properties you’re interested in, it’s time for a formal tour.
Try to set up your inspection tours in groups of three to four buildings at a time. Plan for about 30 minutes per property plus travel time for your tour.
This way you can more readily compare the features and benefits of the properties while the impressions are fresh in your mind.
(more…)
ITRA / The Stevens Group Represents Aras Corp. in 20,000 Sq Ft Lease
Aras Corp. will soon have a new headquarters, but relocating from its current space here at 300 Brickstone Square, will be as seamless for the burgeoning technology firm as one could imagine. After considering options throughout Interstate 495 North, Aras staff need only take the elevator two levels down from the ninth floor into nearly 20,000 sf that tenant representative Debra Stevens terms “as close to 100 percent plug and play as they come,” with the prior tenant spending heavily on fit-out and infrastructure prior to being lured into Boston.
“It’s awesome,” says The Stevens Group principal who lists main benefits as the stylish FFE left behind, plus extensive window lines along three walls on top of multiple private offices desired by her client. Stevens also credits the owner Transwestern and a cooperative building and leasing team for convincing Aras to remain at the master-planned business park. “It was an aggressive deal,” Stevens says, although she declined to offer specifics on terms due to confidentiality contracts.
Stevens also represented Aras in the lease of its ninth floor location five years ago when Aras was operating from nearby Lawrence. As in that instance, the new commitment represents a substantial increase in space for Aras, with their present headquarters concentrated in 8,000 sf.
About Aras Corp
Aras is the leading provider of enterprise open source Product Lifecycle Management (PLM) software solutions. Freedom from licensing eliminates up-front expenses and per user costs while superior technology makes Aras the most advanced enterprise PLM solution suite available. Customers include Motorola, Rolls-Royce, Freudenberg, Lockheed Martin, Ingersoll Rand, Hydrometer, Hi-P and ACCO Brands. Aras is privately held with global headquarters in Andover, Mass.
About The Stevens Group
The Stevens Group is the Boston affiliate of ITRA Global, the International Tenant Representative Alliance, an organization of independently owned commercial real estate firms with offices in major markets in North America, Latin America, Europe, and the Pacific Rim. ITRA Global is one of the largest organizations in the world that provides objective real estate advice and services exclusively to corporate tenants and occupiers of commercial real estate.
ITRA / The Stevens Group Represents Aras Corp. in 20,000 Sq Ft Lease
Aras Corp. will soon have a new headquarters, but relocating from its current space here at 300 Brickstone Square, will be as seamless for the burgeoning technology firm as one could imagine. After considering options throughout Interstate 495 North, Aras staff need only take the elevator two levels down from the ninth floor into nearly 20,000 sf that tenant representative Debra Stevens terms “as close to 100 percent plug and play as they come,” with the prior tenant spending heavily on fit-out and infrastructure prior to being lured into Boston.
(more...)
