The holiday season is around the corner. It’s time for good cheer, hot chocolate, twinkling lights, family and giving the perfect gift. Your holiday shopping may look different this year due to the pandemic, but local businesses can help you find Christmas, Hanukkah or Kwanzaa gifts for everyone on your list. New Holiday Shopping Habits … Read more 4 Reasons to Shop Local This Holiday Season
Retail shopping expectations are shifting as consumer habits change. Lockdowns, stay-at-home orders, and general worry across the country have created a “new normal.” According to a survey from McKinsey & Company, four out of five Americans have not returned to pre-COVID activity levels. Consumers are spending more time online—working, shopping, and connecting with others. Many … Read more Shopping Safety & Expectations for the Future of Retail
What is a concession in a lease agreement? Good question. One-time rent concessions are usually offered to attract new commercial tenants or entice current tenants to renew their lease. Concessions can come in many forms from offering decreased rent for a period to reducing service fees. In commercial real estate’s current landscape, concessions on rent … Read more Can Rent Concessions Help You During COVID-19?
Searching for rent relief or considering rent deferral? If your company or small business needs rent relief now or will in the coming months, it’s time to consider your options and have a conversation about rent concessions with your landlord. The state of commercial real estate has changed since the coronavirus pandemic began, but many … Read more What Is Rent Abatement?
Stephen Critchfield of Commercial One Brokers gives his insight on local commercial real estate trends during the COVID-19 pandemic. Read more about Stephen’s background, his insights on Missouri’s commercial real estate market this year, and his predictions for trends moving forward. This interview was originally published on COMMERCIALCafé and has been reposted to our blog with … Read more Stephen Critchfield Talks The State of Commercial Real Estate During Covid
As the COVID-19 pandemic continues, numerous businesses have shut their doors for good. Yelp’s Local Economic Impact Report from June 25, 2020, states that there have been nearly 140,000 business closures recorded on Yelp since March 1, 2020. Unfortunately, 41 percent of those businesses have permanently closed. The highest closure rates come from retail, restaurant, … Read more How Tenants & Landlords Can Try to Navigate COVID-19
Your business has outgrown its current office space, or you want something smaller. It’s time to move. Whether you’re cutting back, rolling out new services, hiring additional employees, or want to be closer to your talent pool, moving to a new location is a chance to solve operational challenges and signal success to your customers. … Read more 6 Steps for a Successful Office Relocation
A one-year lease could be an option for your startup. You’ll have the flexibility to scale the business up or down depending on its success. If it doesn’t work out, you won’t be stuck with a long lease or left trying to find someone to sublet the space. Although the option for a sublet in … Read more Extending One-Year Leases: What Are My Options?
Vacant storefronts and offices can be found in many communities. The restaurant down the street has never received a new tenant. The retail storefront around the corner has been vacant for over a year. Business owners may assume that pursuing long-vacant real estate means they’ll be able to get a better deal. If a space … Read more Why Can’t I Get A Good Deal on A Vacant Space?
With great property comes great responsibility. Commercial lease agreements spell out the responsibilities of both the tenant and landlord. Whether your lease agreement is one page or thirteen, you’ll want to understand the terms before you sign. While there’s no standard commercial lease agreement, most commercial leases address similar items. Read more about what you … Read more Commercial Lease Agreements 101