When you, as a business owner or manager, hire a commercial real estate broker to represent your business in its search and negotiation for office or warehouse space, the above question: “What do you need” is often the first question you’re asked by the commercial broker. Needless to say, the question is often received with surprise and perplex. More often then not, the commercial tenant doesn’t know their needs as it pertains to office space. Further, the business may have naively hired the broker to help them identify space needs.
During my 23 years of leasing all types of commercial real estate, but specifically Indianapolis office space and Indianapolis warehouse space, as well as representing tenants throughout the US, it is not uncommon that business owners and managers are not aware of their specific needs for commercial space. Additionally, many businesses have hired a broker to help them uncover some important questions about their future office space. Ironically, commercial real estate brokers, including me, are not equipped to uncover these needs, unless of course, the broker was trained in space planning and design.
When my clients lease Indianapolis office space or warehouse space,
unless the
y have a very clear understanding of their needs, I will recommend their hiring a commercial space planner and / or designer to help with a needs assessment.
In fact, this step has become so important, my firm, CARMEN Commercial Real Estate Services, as a service to its clients, has a project manager and designer on staff to guide clients through a programming process and needs assessment. Until the business’ needs are identified and clearly defined, I cannot effectively perform my work.
As a further note on this subject, you should beware of the commercial real estate broker that feels compelled to first ask its client: “What do you need?” You have to ask yourself if this is a professional that is willing to do all of the ground work that is necessary to understanding your business and its needs. Or worse, is this broker more focused on getting your business to a closing, as opposed to providing your business with a valuable service.
