Have you enlisted a broker? I typically sign leases 5-10 years, plus 1-2 options of 5-years/option. That totals some 10-15 years at one location. Restaurants might sign 25-year leases. To me, that sounds like plenty of time to be at a single location.
JEROME CHANG WEST: Santa Monica 1450 2nd Street (@Broadway) | ph: (310) 526-2255 CENTRAL: Mid-Wilshire 5405 Wilshire Blvd (2 blocks west of La Brea) | ph: (323) 330-9505 EAST: Downtown 529 S. Broadway, Suite 4000 (@Pershing Square) | ph: (213) 550-2235 NORTH: Pasadena (Opening 2015 Q4!) 600 E. Colorado Blvd. (@Los Robles) On May 19, 2015, at 9:19 AM, Stephanie Miles <[email protected]> wrote: > So I would take a step back and ask 'What does your community think of the > space?' If you have their buy-in then it might make a great financial > decision. If you find out that your space is not a good fit then you'll find > yourself on an expensive endeavour as a commercial real estate owner without > much experience. > > That's exactly my fear. However, the other side of the coin is that we lease > a space with no option to buy, and end up having to move locations a few > years down the line when it's clear we have the buy-in. That would be a major > expense, too, so it seems like there are upsides/downsides either way. > > > On Sunday, May 17, 2015 at 4:16:22 PM UTC-7, Stephanie Miles wrote: > Hello all. I'm new to the group, at the very beginning stages of opening a > coworking space in Redding, CA. (pop. 90,000) > > I'm considering buying a commercial space for my coworking business, rather > than leasing. Obviously it's a big financial investment up front, however > based on looking at the market here, it seems like the monthly payments on a > commercial real estate loan would be less than the cost of a lease on a > similarly sized space. (I'm looking at pretty run down industrial spaces, > with the plan to renovate.) > > Wondering if anyone else has done that and what unexpected issues, > challenges, or even benefits you faced by doing so? > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
