Realize that your questions, observations and attitude while touring space is important to the deal!
What to Know Before you Tour
Once you have an idea of geographic location, size and type of space required, you are ready to go out and look at spaces that your broker believes represent the appropriate candidates for consideration. The following are some guidelines for the touring process.
- Include Your Entire Team on the Tour. It is advisable to have all of your project team members present (and if possible all decision makers). Without the feedback of all team members, you may become interested in spaces that ultimately will not work out.
- Be Prepared. Prepare your questions about the space and research everything you can before physically touring the building. You should be clear on exactly which issues and factors in a space are priorities and which are negotiable.
- Be Neutral. Enthusiasm and excitement for the space can ruin any advantage you may have during negotiations. Asking questions regarding the space and its suitability for the company’s requirements are good, but save the discussion about whether or not it is an ideal location until after you have left the building. You should however make it clear to the landlord or leasing agent that you are looking at a number of buildings and locations. Just don’t tell them which ones!
- Don’t rush the process. Take time at each individual space and take notes and pictures. It’s best not to tour more than 4 spaces on one tour.
- Ask about the tenant mix. Review the building directory to determine if there are competitors that you do not want in your building or other undesirable tenants. Also make note of tenants that could be complimentary.
- Visit the bathrooms and ride the elevators.
- Check parking. Does there appear to be enough? Is ingress and egress a problem? You may want to return during rush hour.
- Evaluate Security. Ask about card key entry and whether or not there is security on site. Are there security cameras?
- Ask about signage. Is exterior signage available? Find out what is included for free and what if any, expense will be incurred for exterior signage.
- Find out the building standard hours for HVAC. If you will need HVAC in addition to those hours, ask about charges for after hours services.
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