Site Selection

For new businesses looking for a first location or established businesses looking for a new location it can be helpful to utilize the services of a brokerage company that understands the market, the elements and variables in a commercial real estate contracts, options available as to terms and properties in the market.

The following elements can be reviewed, and the associated process of the site selection process are as outlined below:

  • Determination of client requirements as to size of premises, location configuration, parking requirements, outside storage requirements, and mechanical requirements so the best fit can be located as to existing construction or vacant land.
  • Cost analysis as to best alternatives as to build or buy existing in context of client space requirements.
  • Performance of lease vs. purchase analysis so as to develop the optimal economics for the client’s business venture.
  • Valuation services based upon income approach, comparable sales approach and cost depreciation approach to assist the client in putting the correct pricing on the proposed purchase.
  • Market analysis to assess trends in the market as to rental rate levels, absorption, changes in the economic base, construction costs and the cost of capital which have long term effects on value.
  • Market research as to demographic characteristics, economic characteristics, lifestyle characteristics as to their long-term effects on value.
  • Forecasting of Demand and Supply Analysis for the product type, and economic base analysis to chart the long-term position of the asset in the marketplace.
  • Performance of gap analysis to determine potential commercial real estate opportunities by finding situations where demand exceeds supply.
  • Presentation of analysis of various options in the market and relative costs of such to the client.
  • Assisting client in making selection of properties/vacant sites to tour.
  • Setting an appointment with properties selected by tenant as a good fit.
  • Touring properties with client and obtaining feedback from client as to those properties that fit their criteria.
  • Providing informed suggestions based upon market data as to the correct negotiation position to offer prospective landlords/sellers. Experience with rental and purchase negotiations can assist the tenant in obtaining concessions are adjusting variables that may or may not be apparent from an unexperienced perspective. These elements include:
    • Assistance in negotiation of business and legal terms and conditions and assistance in lease/purchase contract review.
    • Facilitation of contract execution, and processing of applicable documents.

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