What’s the best way to find commercial space?
I’ve notice that a lot of spaces I’ve seen out in person aren’t listed on sites like Tenetbase or Loopnet. Is it better to just drive to the area I want to lease in and/or work with an agent or are these sites a better choice?
[{"id": "fi5vtyf", "text": "Call someone on one of the signs they likely work the area and can help you with more than just that one space or connect you with someone who does", "replies": [{"id": "fi5wxkx", "text": "So you sound new to commerical office, so please excuse me if I over simplify. \n\nBrokers on a sign can usually also help you with how to prepare a business plan or provide financial information, which will help determine your security deposit, and they will help you understand what a fair rent is for the space and concessions for TI and free rent. They typically cost a percentage of your total lease value (that the landlord pays in most places in the US even though it\u2019s a deal cost for them).", "replies": [{"id": "fi612vj", "text": "[Philbert\\_1](https://www.reddit.com/user/Philbert_1/): very succinct and measured advice.  OP, this is the right answer.", "replies": [], "depth": 3}, {"id": "fi6p2a5", "text": "Great advice. I\u2019m definitely going to try to you use that feature. You taught me something new.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fi6mm0y", "text": "Get in the car and take pictures of every sign you see. Websites like costar and showcase are great but never capture everything. Also keeping up with the news, for instance if you know AC Moore is closing all stores you can see an AC Moore and know it will be available. On sign calls ask the broker what else they have in the market. Low chance they point you in the direction of other brokers cause that doesn't get them paid unless you agree for them to rep you in which case they'll get in the car and find the space.", "replies": [{"id": "fi6ozdu", "text": "I see. I didn\u2019t know about AC Moore and that\u2019s a great tactic. Thanks", "replies": [], "depth": 2}], "depth": 1}, {"id": "fi6rgtw", "text": "CoStar has bought loopnet and now charges a monthly fee to the owner or listing agent in order to have their property appear on loopnet to the general public. Even if you sign up for the paid subscription of loopnet, their property will still not show up on loopnet unless the broker/owner pays. Our office just had a meeting with costar to discuss this, and they explained it to us. Complete monopoly.", "replies": [{"id": "fi70fsv", "text": "That sucks. Well hopefully people take notice like I did and come to you directly.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fi7760p", "text": "Local brokerage and alerts on all platforms even Craigslist, MLS, 42floor, commercial cafe and crexi. The problem with sites like loopnet a listing maybe advertised on the website but if the broker/agent don't pay extra you might only see it 25% of the time and that's if you're lucky. If you aren't looking for a showcase listing the unimpressive one might not hit your search results ever.", "replies": [], "depth": 1}, {"id": "fnbtpu2", "text": "There are four primary ways you can find commercial space:\n1. Work with a commercial real estate broker that specializes in the market and property type you're looking for\n2. Utilize online platforms like Loopnet, Costar, and CREXi\n3. Network with property owners and business owners in your desired neighborhoods - they tend to know everything going on in the area and can likely connect you \n4. Drive the market that you'd like to be in and take note of any for sale / for lease signs and any vacant properties. You can look up the property owner's contact information on the tax records.\n\nTake a deeper dive here: https://www.tylercauble.com/blog/find-commercial-space-for-rent", "replies": [], "depth": 1}]