What are the Different Types of Commercial Properties?

Beginning any new business comes with a set of foundational questions to ask yourself. One of those foundational questions is what type of building or space you’d like to build your business in. Choosing the right property for your business is essential in its ability to properly flourish. Before you sign that medical office lease, continue reading on to find out more about different types of commercial properties and choosing the one that is right for you.

Office

Office buildings are a very generalized commercial property that can vary on a wide spectrum. They are usually divided by urban or suburban environments. Urban offices are found in, you guessed it, urban neighborhoods or cities that are usually housed in high-rises or the like. They also tend to be a lot larger than suburban offices. Suburban offices, on the other hand, can be found even in residential looking buildings or in a group with other offices. Office buildings can also vary depending on their rank (Class A, B, or C). Class A buildings are regarded as the more premier office buildings compared to B or C. They usually have a great marketing presence and incorporate innovative building techniques or style. Class B buildings are considered the average among office spaces. They generally have a reasonable rent and are adequate as an overall building. Class C buildings usually offer low rent but are not considered the best in building adequacy.

Medical office buildings are another commercial property to consider among the office group. These properties often house private practice or group practices. In a group practice, several doctors come together to work together in providing their medical specialty. On the other hand, a private practice involves one doctor who runs the operation, though they may have some employees to help them with this. Medical office buildings are a very popular option for medical companies or private doctors. They offer many amenities at a good rate. For example, Boulevard Medical Properties in Los Angeles offers to take care of lease paperwork and wishes to work with you to provide your office with what you specifically need for your business to succeed.

Industrial

Another type of commercial property is an industrial building. Industrial buildings are usually frequented by several different tenants. These can house anywhere from basic industrial operations for manufacturing to bulk warehouses or an industrial & office space mix.

Retail

Retail properties are made up of retail stores, restaurants, etc. This can range from housing multiple tenants to single buildings. This can also include big chain stores such as Walmart, Target, etc.

Hotel

A hotel is another type of commercial property that people don’t often think about. Hotels can be a part of a chain, such as the Marriott, or an independent business. Depending on their status, they may offer anywhere from limited service, to full service with a restaurant and concierge. Casinos are also regarded as hotel commercial properties. Another type of hotel is an urban or resort located establishment like a bed and breakfast. This is regarded as a “boutique” and isn’t part of any larger chain.

Multifamily

Any type of residential real estate outside of a single-family home is considered a multifamily commercial property. This includes high-rises, mid-rises, a two-three story home (which is considered a “garden-style” property and walk-ups. Housing communities or low-income housing is also considered a multifamily property.

Overall, commercial properties are defined as anything larger than one house or lot. So whether you’re looking to lease a new medical office (contact Boulevard Medical Properties today!) or rent an apartment in a condo building, it’s all considered commercial!

Most Important Questions to Ask When Renting Commercial Real Estate

Whether you are just starting the hunt for the perfect space for your business or are narrowing in on the final steps of the process, it is crucial to know the right questions to ask when renting commercial real estate. Fortunately, Boulevard Medical Properties can help guide you from the first steps to the last signings. For more information about our commercial property services, get in touch with us today!

Question #1: What is the cost?

Perhaps one of the most obvious places to start is the price. After all, the price will dictate if you can seriously consider signing the lease for the property. In addition, it is important to note how they expect to be paid, when the amount is due, and if you can lock in that rate and terms for your entire time in the location. Since each property can vary greatly from one to the next, it can be extremely helpful to have the team of Boulevard Medical Properties on your side.

Question #2: How long will the lease run?

When selecting a commercial real estate property to rent, one of the first questions that should be asked is about the length of the lease. It is crucial to establish the length of the lease and not assume that it is the same as the other properties you have viewed, especially since it is beneficial to the landlord to have you sign for as much time as possible. (Longer leases tend to benefit the landlord since it reduces the likelihood of vacancies where they are not getting paid for the space). It is also important to discuss what the beginning date of the lease is, and what will happen in the event that it is not ready in time. Discussing this information will ensure you do not wind up paying for the space while they undergo emergency renovations or have difficulty removing the previous landlord.

Question #3: Can I sublease?

While your intention going into the agreement may be for you to stay in the property for the entire time, it is important to know your options in case of a drastic change in your business. Whether the change is good (ex: exponential growth that has caused you to outgrow the space) or bad (ex: you can no longer afford the rent), having the option to sublease for the remainder of your agreement can be a great option for your business.

Question #4: Is there a “recognition” or non-disturbance clause?

Another way to protect yourself, your company, and your employees is through a non-disturbance clause. This will ensure that you do not get the short end of the stick if your landlord goes broke and a new landlord tries to double your rent.

Question #5: Am I limited to a certain Internet provider?

In today’s modern workplace, efficiency can be severely hindered with a subpar Internet provider. Before signing and agreeing to the lease, make sure you find out if you have any flexibility with your Internet provider. In the case of the landlord only working with one option, make sure that it is effective and it is not just the cheapest option to save them money. (During this discussion it can also be beneficial to discuss if a cleaning crew is provided, who pays for which repairs, which utilities you are responsible for, etc.)

Finding the Appropriate Medical Office Lease for Your Practice

Regardless of what your practice specializes in, the right location cannot be stressed enough. Boulevard Medical Properties take on the headaches that come along with searching for commercial property, so you can focus on running your practice. To learn more about our services or to get straight to your property search, contact us today.

Bringing Your Practice into the 21st Century

We live in a world that is constantly trying to find the next best thing, and the best way to keep your customers’ interest is by keeping up on the newest trends. This idea extends itself to the medical world, and it is important to bring every aspect of your practice into the 21st century. This will create a patient experience that will keep them coming back to you time after time. Boulevard Medical Properties can help you search for the ideal medical office lease that will give you an edge over the competition.

Location

Finding a location for your practice that is inviting and trendy is important to set yourself apart from the rest. Many medical practices have been in the same place for decades, but fashions go in and out of style, even in location. There are many things that are peripheral to your location that is very important to patients, such as ease of finding the building, how far you need to walk to the suite, and whether or not there is ample parking close by. You want your location to not only feel modern but to mitigate any stress your patients may feel while trying to get to their appointment.

Décor

Medical practices are typically synonymous with outdated furniture because you would assume most patients would want you to focus on the staff and medical practices being up to date rather than the décor; however, this is a common misconception. Patients assume that you are up to date on the medical side of the practice, and they want the décor to reflect that. We are always told not to judge a book by its cover, but it is something that we innately do on a daily basis. The décor of your office is the first thing that a potential patient sees, and if they are turned off by that, they may never get to see how much expertise your practice has. Be sure to create a modern space that is inviting, not only to keep your patients around to find out how good the practice is but help calm any stress or nerves they may have regarding their appointments. Creating a comfortable space will help foster comfortable experiences.

Marketing

One thing that has become the forefront of the 21st century when it comes to marketing is your presence on the Internet. It’s not enough to just have a website anymore, but people expect there to be an intuition to these sites. Creating an online presence that is interactive and gives your patients the ability to create appointments, check their records, and review their billing is what is expected. We live in the time of convenience where everything can be seen, purchased, or accessed at the touch of a button, and patients no longer believe in “operating hours” because much of what we digest is on demand 24/7 on the Internet. By giving patients more control, you are fostering a good relationship with them, taking work from your staff, and aligning yourself with some of the most influential online spaces. It’s not enough to just create the website that is relevant today but continuing to upgrade with the newest trends so that your website never goes out of style. Finally, most people use their phones for tasks related to medicine, so don’t forget to make sure every aspect of your website is mobile friendly.

Stand out from the rest of the medical practices by implementing some of these ideas to ensure your practice is with the times. Boulevard Medical Properties can help you find the best location to suit your patients and medical office lease to help your practice grow.

Easter at the Office

It’s that time of year again — April showers are gracing our skies, flowers are starting to poke out from under the warm soil, and chocolate Easter bunnies are appearing around every corner. With the call of Easter comes the ringing of spring, a time of renewal and shedding off our winter skin. You may be thinking of how you’d like to proceed with the rest of the work season as time moves into warmer climates. What ways can you improve your sales? What methods aren’t working anymore and need to be let go of? How can you implement change for your business in a way that will push you just a little further in the direction of your dreams? A perfect way to shake things up and mark this fresh start is getting your co-workers together for an Easter party. An Easter party doesn’t necessarily have to celebrate the holiday itself, but it’s a great way to encourage team-building and get your co-workers inspired for what’s to come. Here are a few tips on how to get started.

For more office party ideas and strategies to finding the right medical lease in Los Angeles for your practice, get in touch with Boulevard Medical Properties today.

Paint Away

One great way to celebrate Easter at the office is every kid’s favorite activity: painting Easter eggs. First, make a bowl of hard-boiled eggs and wait for them to cool. Pick up some food dye of your favorite colors and prepare them out on a tablecloth you don’t mind getting messy. Dip each egg into the dyes with slotted spoons, allowing enough time for the dye to soak through the egg and color the shell. You may continue this with other dyes, adding many different colors to the same egg, or you may even wish to decorate the eggs with fun, decorative candies, and jewels.

Egg Hunting

Another fun way to get everyone involved is setting up an Easter egg hunt within the office. This puts people right back into their childhood, allowing them to loosen up and see the office as a place of fun. You might want to hide some eggs with candy inside or place some riddles within that will guide them to an ultimate prize, like a week off from work or a large Easter basket.

Easter Baskets

Raffling off Easter baskets are also a fun activity to introduce to your team. Candy and chocolate are always great items to include in an Easter basket, but perhaps you’d like to add some things that would help around the office — such as, stationery items or a gift card to your local coffee shop. Better yet, why not play a little game of white elephant? With white elephant or Yankee swap it’s not so much about the gift itself, but the enjoyment around the game, encouraging more team-bonding.

Pin the Tail on the Bunny

Loosen things up with a game of pin-the-tail-on-the-bunny. This game also gets adults shedding their armor and getting in touch with their child-like side. This is a great way to get to know your co-workers and build camaraderie.

Take it Outside

You may also want to take your Easter party outside if weather permits. A nice courtyard outside the walls of your office is a perfect opportunity to lay out some picnic blankets, crank up the grill, and bring everyone together.

Whether you’re trying to establish more team-bonding among your co-workers or wanting to announce some important goals for the next season, having an Easter party is a great platform to do so. At Boulevard Medical Properties, we ensure that your office has all it needs for such activities. We care about the success of your business and that’s why we go to all lengths to make sure we are doing our very best to provide a secure foundation for you to build upon. If you’re interested in learning more about what we have to offer, visit our website today.