Searching for a new lease location, a building to purchase, or even land to build a new facility can be daunting. It is a common misconception to think this endeavor can be handled alone, but in the end, owners or sellers can be taken advantage of without someone acting on your behalf.
Here are smart strategic areas where a professional can assist in the process:
Commercial real estate advisors pride themselves on being experts in the industry, utilizing prior experience to discover unique ways to optimize a space. At Colliers International | West Michigan, the advisors have the expertise to deliver based on a client’s list of must-haves by adjusting and recreating what is necessary for the perfect fit, utilizing their skills to think outside the box.
For example, a team of advisors at Colliers International | West Michigan worked with Franklin Partners on a vacant manufacturing facility at 4247 Eastern Ave. SE. The team noticed the building lacked the necessary amenities for success and decided to renovate and redefine the building. This resulted in securing a long-term lease with ABC Undercar, identifying the creativity of the professionals, ensuring the success of a client.
Having research at your fingertips is vital. Within Colliers International | West Michigan, the team of research analysts are actively finding market information to better the client experience, including market trends, quarter to quarter changes in rates, market activity, and absorption. The advisors strive to make well-informed decisions by gaining insight on property values, market conditions, ideal supply of space, and comparable buildings.
Similar to market knowledge, the advisor has in-depth experience working directly with clients, by taking a collaborative approach when examining possible tradeoffs or creative options to expand outcomes beyond what was thought possible. The advisor does the due-diligence, ensuring the buyer or lessee is financially qualified.
This is important from both the buyer/lessee and seller/lessor side, ensuring that there no surprises during the process and all parties are working toward a successful sale. The fair market value of the property is determined, ensuring this amount meets expectations.
Once this information is established, the initial offer is made to provide a road-map detailing the necessary steps to be taken throughout the process. This is important for the advisor, as it can strike a balance between task and people, often resulting in a long-term relationship beyond that transaction.
Every detail is taken care of by the advisor, so the client has little to worry about. The advisor identifies the available real estate options, and once the decision is made, the details of the deal are monitored and executed.
When working with advisors who are associated with larger firms, such as Colliers International | West Michigan, there are marketing services that are included. Some of these services include photography, print materials, signage, digital exposure and analytics, public relations, advertising, or open houses.
The marketing team works closely with research and the advisors to create a target audience for the specific property, communicating to those who will most likely be a top prospect.
Building those long-term connections is an important aspect of the process for advisors to continue the partnership upon completion of sale or lease. Elston-Richards and Duke Suwyn, Colliers International | West Michigan CEO have worked together over the past 25 years, completing nearly 3 million square feet in commercial real estate transactions.
Their relationship began with that first transaction and developed into a long-term relationship based on the established trust and provided value from each individual.
When using a Commercial Real Estate professional, they will make taking care of your business, their business. It is important to nd that individual to trust, who is responsive when needed and acts as a professional representative for the company.
Learn more about Colliers International at www.colliers.com/westmichigan