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The ABC’s of Leasing

Considering leasing new office space or moving from an existing office suite?

If so, here are five points to consider when asking a broker to help you find a new business location:

  1. Give yourself enough time – It is to your advantage to start your search not less than 3 months prior to your desired occupancy date or from your current lease expiration date. A search starting more than 6 months prior to needing the space or your move date is only necessary if your specifications are unusual or difficult to satisfy.  Keep in mind that though you might identify a satisfactory office location in a matter of weeks, but you need to provide between 1-3 weeks to negotiate and execute a lease.  After lease execution a landlord might need 30 to 90 days to renovate a suite for your occupancy.
  2. Location – Do you want your office located on the busiest corridor or in a quiet office park? What side of town? Near a freeway interchange?  If you are considering downtown Ann Arbor, will you be able to secure parking spaces? Where do your employees live?  Do you need easy access for your customers/clients?
  3. Understand your specifications – Be prepared to tell your broker how many square feet (within 20%) that you think you will need. It will help if you can describe your preferred office layout, ie. how many enclosed offices, conference room sizes, how many cubicle type offices, reception area, copy/fax room size.   Some guidelines assign a multiplier of 200-300 sf per employee in the office, but of course the multiplier depends a lot on office/cubicle sizes.
  4. Special requests – Let your broker know if there are unusual specifications that you are hoping to find with your new office. Technology requirements, certain number of offices or window lines, first floor versus upper floors, or street signage requirements will help the broker to concentrate only on buildings that offer space matching your specifications.
  5. Economic priorities – In most cases the economic factors are a matter of give and take – if you want low rent you might have to live with more spartan suite finishes – but if you can sign a long-term lease, you might get that class A location.  If you want a landlord to make an upfront investment for your leasehold improvements then be prepared to show the landlord your financial statements, provide a landlord reference and/or authorize a credit check.

The better you understand your company’s needs, the better you are able to equip your broker to find the optimal office location. If you are considering a new location, call a broker at Swisher Commercial. We are eager to help, 734-663-0501.

2018 Year-End Vacancy Report Now Available

Just like every year, we’ve been working on something special to help you stay ahead of the curve. The Annual Vacancy Report brought to you by our brokers is the only report of its kind in the Ann Arbor area. Our brokers compile years of data and survey over 12 million square feet of office and flex space, to bring you an easy-to-consume report.

Receive Your Report

Office / High Tech Building: 4840 Venture, Ann Arbor

Brokers:  Bart Wise Phone:  (734)662-3778

Fully occupied 25,000 SF office / high tech building. High value in wet lab interior infrastructure. Significant investments made to HVAC systems and building / site structure. Triple net lease with credit tenant. 2.17 acres lot.

Lease information and sale comparables available with confidentiality agreement.

Sale Price: $3,100,000

For more information or to schedule a property showing, contact Bart Wise at (734)662-3778 or bartw@swishercommercial.com.

Light Industrial / High Tech Building for Sale: 435 – 445 Joe Hall Drive, Ypsilanti

Fully occupied 10,900 SF light industrial and high tech building. Layout currently set for two tenants in the building. Large fenced yard in rear of building. 1.43 acres lot. Multiple water + gas lines, electrical drops. 200 amps, 240 volt, 3-phase electric. Includes wet lab, two 14′ overhead doors and 16′ ceiling height. More lease information available with confidentiality agreement.

Sale Price: $900,000

For more information or to schedule a property showing, contact Bart Wise at (734)662-3778 or bartw@swishercommercial.com.

Lake Front Office Building for Lease: 533 Main, Belleville

Single tenant office building with gated private entry and parking. Professionally designed, high-end finished space. Beautifully landscaped gardens and lake frontage with boat dock. Interior and exterior renovated and remodeled in 2016. All new mechanical systems, windows, roof, etc. Currently operating as PURO Health & Wellness Center (furniture fixtures & equipment could be available for purchase). Ideal for doctor, attorney, financial planner, real estate, insurance and many other uses. Beautiful and serene manicured lake front setting with observation deck and boat dock on Belleville Lake. Located in the heart of downtown Belleville. This lakefront location is easy walking distance to many restaurants, shops and businesses. Easy access to I-94 via Belleville Road.

Main Level – 1,100 SF: Atrium reception area, glass enclosed conference and three private offices on main level. Includes half bath. Hardwood floors throughout.

Lower Level – 1,100 SF: Two offices, spacious seating/relaxation (or additional work area) and kitchenette on lower walk-out level. Includes full bath with shower. Mechanical room with laundry and plenty of closet & storage.

Lease Rate: $23.00 PSF NNN

VIEW PROPERTY TOUR VIDEO

For more information or to schedule a property showing, contact Tony Caprarese at (734)222-7520 or tonyc@swishercommercial.com.

Microbrewery in Dexter Plans to Open Late Summer

“During the city council meeting on Jan. 28, Michelle Aniol, Dexter’s community development manager, told the council that Erratic Ale Co. has leased space at 8080 Grand Street, for a microbrewery, tasting room and outdoor seating area.”

Erratic Ale Co’s owner Brian Schroeder is interviewed by the Sun Times News: “Dexter has the right feel for us,” he said of him and his family. “We love it here.”

To read the whole article, click here.

Swisher Commercial’s Jeff Evans brokered the lease on this property. To see more space available at 8080 Grand, Dexter, please click here.

Office Suite for Lease: 1070 Rosewood, Ann Arbor

Office suite includes 2 private offices, kitchenette and bathroom. Conveniently located between Briarwood area and downtown Ann Arbor. Corner building on Rosewood and S Industrial, between Stadium and Eisenhower. Easy access to I-94. Free on-site parking.

Suite Size: 1,500 SF

Lease Rate: $15.00 PSF Plus Utilities

For more information or to schedule a property showing, please contact Randy Maas at (734)222-7525 or rmaas@swishercommercial.com.