As small business owners ourselves, we are impacted by the pandemic of 2020. However, as a Commercial Real Estate brokerage we find ourselves in a fortunate position to be able to offer help for small businesses during this time. While many small businesses are struggling, we have to think positively and see this as an opportunity to be creative, innovative, and fight to move forward. I feel like it is more important than ever to work with a local commercial real estate brokerage like ourselves to look at solutions and make the necessary adjustments to help your small business thrive.
Here are some solutions to consider:
- Review lease options
- Expand or downsize your space
- Assess the current market value of your property
- Look at practical strategies for your business as a whole
Review Lease Options
Tenants may be looking to reduce their rent during this time, or to modify their lease. While the details of a lease are ultimately between a landlord and their tenant, we can offer knowledge and insight that may be helpful when reviewing your options.
Rather than breaking a lease entirely, we can help both tenants and landlords by discussing the possibility of a sublease or lease assignment. With a lease assignment we can assist by finding new tenants to adopt the current lease. With our vast network of connections, we are guaranteed to find reliable tenants. At Stance Commercial Real Estate, we look at all your options and provide the information needed to make the best decisions.
Expand or Downsize Your Space
If you need to downsize or expand your space we can help with the process. Many companies will need to make a decision in 2020 to downsize or expand for operational reasons. Yes, some industries are expanding, like shipping companies, home delivery, online marketing, and medical—just to name a few. For these types of companies, Stance Commercial Real Estate is in a position to help these small businesses find the perfect building. For the companies who need to make the tough decision to downsize, we are here for them too. Our stellar reputation among brokers, building owners, and government officials often give us and our clients a first opportunity on properties that come to market. We can guarantee we will find you exactly the kind of property you want, if you need to downsize.
Assess Current Market Value
We can give building owners a current market value of property. Having exclusively practiced commercial real estate in Riverside for 14 years, our team has either leased, sold, or toured nearly every building in the area. This not only saves you valuable time when looking for a property, it also means we know exactly what your property is worth. If you are in a position to sell, we have a vast local network of industries who help commercial real estate owners. We utilize this network to help the clients we represent. You will get what your property is worth and without hassle.
Look At Practical Strategies For Your Business
Using our large network of connections, we can provide help for small businesses as a whole. As a company who believes in serving others, we see this time as an opportunity to take a Stance for service. We can help you discover the next steps needed to keep your business thriving using practical commercial real estate strategies.
I am often surprised when tenants looking to lease don’t know they are in position to purchase. If you are a company who needs to operate out of a building, you have to put yourself in a position to own. With interest rates at historic lows, companies often have a lower monthly mortgage payment than the monthly lease payment. As a property owner you have more control over your destiny and have financial benefits as well. Companies who own their property are able to lease back from themselves. This means you can write off your lease payment during tax season to save thousands. Companies who qualify for a SBA loan only have to put down 10% on a purchase. This is typically what you would pay over a one-year term on a lease or less. Once you are ready to move out of the building, we can help lease it out or sell it. If you decide to sell it, you can utilize a 1031 tax-deferred exchange. This allows you to take the money you have earned in equity to buy another building for your company. I am surprised that building owners don’t always know these strategies.
We love our city and want to see other small businesses like us continue to stay in business. We are here to serve you. The possibilities are endless! Don’t hesitate to reach out and get a free consultation at (909) 772-1212 or send an email to joe@stancerealestate.com.
Best,
Joe