Posts Tagged ‘commercial real estate’

Why You’re Having Problems Selling or Leasing That Last Suite

selling, leasing, property, real estate, commercial property, frederick, marylandYou’ve had that last suite for what seems like forever now. You’ve shown the property time and time again, but no one is biting. At this point, if your hair hasn’t fallen out, you’re really tempted to pull it all out.

Although it might seem like you’re never going to sell or lease that last suite, there are a few things you might not have thought of that could help you finally move that property.

Create Yourself a To-Do List

You’d be surprised at some of the things you could do to help sell that property quicker. For example, have you thought about the parking lot? Repainting the parking lot, which could cost you maybe $800 to $900, can leave an amazing first impression and gives the property tremendous curb appeal.

Speaking of curb appeal, how does it look outside of the suite? Surely, you’ve cleaned random debris and trash, but what about landscaping? Do the shrubs need to be trimmed? How about new mulch? Do you have any signs up, and do you have the address numbers clearly posted for people to see? Cleanliness is vitally important to selling property, as is any kind of charm and appeal you can give it.

Inside of the suite, there’s a good chance you’ve already cleaned it, but how does it look inside? Do the carpets look bad? If so, it’s best to just pull them up and leave the exposed concrete. Most people usually don’t mind this, so just go ahead and rip it up.

How are those ceiling tiles looking? Do some have spots or are they turning brown? Since it only costs about $9 to replace a ceiling tile, it would probably be in your best interest to do so. Now that those tiles are cleaned up, could the walls use a new coat of paint? That new paint smell tends to let prospective buyers know they’re walking into something fresh. Before painting, however, you probably want to make sure you patch any holes that are in the walls. This is a relatively cheap thing to do.

Looking at the Lease

If you’re leasing the property and find out a prospective client doesn’t get along well with their landlord, give them some names of people to talk to about it. The prospective client will rarely call, but they do like that you’re looking out for them. After all, you wouldn’t give them your tenets number if you were a bad property manager, right?

It’s also important to have a list of all of the details ready for people. For a lease, be sure to let them know what is and is not included in the rent, I.E., does the power bill go to the landlord or to the lessee? All of this information is key to getting this property off your hands.

Parking, Pricing, and Proximity

The best times to take a prospective client to look at parking is at 9:30 a.m. and 1:30 p.m. It’s easy to show them the building and parking once everyone has gone home for the day, but unless they know what the parking situation really is, they’re not going to be happy once they find out how little parking there might be available. The best practice is to be up front with them.

It should come as no surprise that pricing is going to be a pain – not just for the prospective buyer/lessee, but for you as well. The price has to be right the first time. Higher priced properties are going to turn off people’s interest, especially if there are other buildings that are comparable and cheaper. If the price isn’t right the first time, people are going to either walk away or want to haggle with you. You really don’t have the time to deal with that, and neither do they.

One of the things that helps with value is the property’s proximity to amenities. Different companies need different amenities. Your prospective client needs to know what’s around them: restaurants, daycare facilities, grocery stores, etc. These things add value and will help you make the sale.

Be careful, though. If the property is in a bad area, you have to focus on the positives as much as possible. Even still, no matter how low the price, people might not want the property if it is at a horrible location.

Look No Further for Guidance in Commercial Property

Sometimes, no matter what you do, you need help. After all, leasing a property is difficult. That’s where the professionals at Blackwolf Commercial come in. Blackwolf specializes in commercial property listing services. They are a local broker group with an in-network email system.

Blackwolf knows people, and they know people who are looking for property just like yours. Based on word of mouth alone, they have been able to get the right people into the right properties, and they can do it for you, too.

The team at Blackwolf knows that when it comes to negotiating, it all comes down to price and timeframe. With experience in many scenarios, they know what people expect and want in an office. Some people might walk into an office thinking the space doesn’t fit their needs, not realizing if they simply knocked out a wall, it would work very well for them.

Most importantly, Blackwolf has relationships with architects and contractors, so putting a plan together to get work done is a breeze. They can talk with them to understand what the costs would be.

Before giving up on a property, be sure to contact Blackwolf Commercial to see what they can do for you and your properties.

Why Should You Invest in Hagerstown Commercial Real Estate?

commercial real estate hagerstown

Choosing where and how to invest in real estate can be a difficult decision, but with the right research you can feel confident that you’re making a financially beneficial investment. The city of Hagerstown, MD, is home to affordable opportunities to invest in commercial locations. With a historic downtown area and a constantly increasing population of both residents and tourists, there has never been a better time to invest in Hagerstown, MD commercial real estate. Let’s take a closer look at some of the reasons why Hagerstown is the right place for you and your commercial interests, no matter what they might be. Why Maryland?

Location, Location, Location

Everyone knows these are the three most important things to keep in mind when dealing with real estate, and Hagerstown couldn’t have a better location. Maryland as a whole is home to endless historic sites, from Civil War museums and monuments to its proximity to the White House and everything Washington, DC, has to offer. Being located within an two hours of the nation’s capital provides a safe investment that simply can’t be matched anywhere else in the country.

Intersected by three highways and with its own regional airport, Washington is a major industrial and transportation hub in the Mid-Atlantic region. Besides that, it’s within a day’s drive of two-thirds of the country’s population (as it’s halfway between Boston and Atlanta). Hagerstown was listed as one of the best small cities to travel to in 2018. Investing in Hagerstown real estate means business year-round from tourists and locals alike.

It’s Only Getting Busier

The location is excellent, and that’s a great foundation. But businesses in Hagerstown aren’t merely consistent – they’re continually growing and expanding. Maryland ranks:

  • 9th among the states in the value of venture capital deals for 2015
  • 4th per capita and 5th overall in Small Business Innovation Research Program (SBIR) awards for 2015.
  • 3rd overall and 2nd among larger population states in the Kauffman Index of Growth Entrepreneurship.

This is all on top of the 85% of surveyed business owners expecting this year’s business to be better than last – a completely reasonable outlook to have considering that 76% reported 2016 to have been better than their previous business year. Tried and true, business is more than just steady, it’s actively increasing at exponential rates. This, of course, will come as no surprise when you realize that:

 The Workforce in Hagerstown is Unmatched throughout the Nation

Of course, it’s not just enough to have a national business hub; you have to be able to staff accordingly with experienced and trusted workers, which Hagerstown absolutely has:

  • Almost 60% of Washington County’s population is of working age
  • Maryland boasts the best in the country for the percentage of technical and professional workers in the workplace (28%) and private sector employment dominates Hagerstown’s workforce.
  • More than 3,000 businesses and 88,000 potential hires to fill positions in those businesses

There’s no business you could begin or relocate that you couldn’t staff entirely in Hagerstown. Do you remember what we mentioned about location earlier? Even if you can’t staff entirely within the county, the Hagerstown Urban Improvement Project is quickly revitalizing the downtown, making a convincing offer to potential employees from out of town to relocate.

So whether you’re just starting a business or looking to expand an existing one, there’s no reason not to invest in commercial real estate in Hagerstown, MD. With undeniable statistical business success, highly valued location advantages and top-notch quality-of-life ratings throughout the county and state, there’s never been a better county to invest in real estate – and there’s never been a better time than now.  Contact Blackwolf Commerical today and make the easiest business decision you’ve ever made.