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Four Keys to Making Smart Real Estate Decisions

August 23, 2011

In a recent newsletter on ways to kill a buy-sell deal I asked for other issues that can kill a deal. Kevin Grossman of Grossman Services, Inc. kindly provided his expertise on how a real estate lease comes into play.

A business space lease is something you only have to deal with every few years – but of course it’s important to your company so you want to make a good, informed decision.

So what are the keys to making this decision, from the perspective of other business owners and people involved in many transactions? I’ve been representing tenants in leasing and buying properties for their business operations – office, high-tech and manufacturing space – and here’s a “quick list” distilled from client feedback and experiences over the years.

Remember the big picture – keep the deal and specific points of the deal in context of what your business needs for its overall success.

Approach it thoughtfully and with a good process in mind – this ensures you get the best deal in any given market environment for your firm.

Use a team and tools to ensure you have the objective and subjective input you need to support your decision making process.

Be sure the documentation reflects the deal you believe you’ve agreed to. The landlord may tell you the lease document is standard, but there is no standard and to avoid potentially crippling problems it deserves the time and attention to get it right.

The full article is available on Kevin’s blog.

“I had heard my father say that he never knew a piece of land run away or break.” John Adams

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