Do you want to turn that dream business idea into a massive success? Then you should think about finding the right commercial space. The good news is that Atlanta is one of the most business-friendly cities you can find. It has a strong economy, a central location, and a wide range of property types to suit any business. Read this guide, and we will provide a helping hand with finding the right commercial space for your business in Atlanta.
Key Factors Businesses Should Consider Before Leasing Commercial Space
Signing a commercial lease is a long-term decision. One misstep during your search can lead to costly mistakes and lost time. Here’s what you need to know before making that commitment.
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Know your space requirements
Before you start your search, ask yourself: How much space do I really need? Consider your current team size, daily operations, and your plans for the next three to five years down the road. While a space may seem ideal now, will it accommodate your growth in 18 months? Always leave room to grow.
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Budget accordingly
When crunching the numbers, remember your commercial space costs will likely exceed just the monthly rent. You’re also responsible for utilities, maintenance, insurance, and common area fees. Before you sign on the dotted line, ask your landlord what’s included in the lease price and what you’ll be responsible for paying out of pocket. You’ll likely be surprised by the additional fees.
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Do your due diligence on zoning
Just because a space is available for lease doesn’t mean it’s zoned for your business. Atlanta has zoning districts that regulate the flow, usage, and placement of real estate development. Ensure the property you want to lease is zoned for your specific business use. Neglecting to do your homework can result in hefty fines and legal action.
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Read the lease (and read it again)
Commercial leases can be tricky. Make sure you understand the agreement and every line in the contract. This includes the lease term, renewal options, rent escalations, and exit clauses. Once you think you’ve got it down, hire a commercial real estate attorney to go over the contract with a fine-tooth comb before you sign.
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Understand the condition of the space
If a space needs significant repair or remodeling, walk the other way. During your tour of the property, take note of any structural damage, as well as any old appliances or systems that will need to be replaced before you move in. If a landlord promises to make repairs, get it in writing. This is where you can get some help from the property manager. A reliable Atlanta property manager can help maximize returns on rental properties.
How to Find Commercial Property for Rent in Atlanta
Many investors search online for commercial property for rent in Atlanta that meets their business needs. Atlanta has a bustling commercial real estate market. There are currently over 500 commercial properties for lease throughout the metro area. If you know where to look and who to work with, finding your dream space is easy.
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Online listings are a great place to start
Websites like CBRE, CityFeet, and CoStar allow you to search by neighborhood, square footage, price range, property type, and more. Digging into online resources can help you gain a baseline knowledge of available space and pricing trends around the city.
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Hire a local broker
An experienced Atlanta commercial real estate broker can be worth their weight in gold. They have extensive knowledge of the market and can direct you to off-market listings, warn you about potential problem properties, and negotiate on your behalf. This is particularly valuable if this is your first time renting commercial space.
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Speak with property management companies
Commercial property management companies are solely responsible for managing properties such as apartments, office buildings, and more. Many of them also work with businesses to help find space and will have listings in several neighborhoods that you can easily compare.
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Be prepared to show your financials
Before accepting tenants, landlords will want to make sure you can afford the monthly lease payments. You’ll have a leg up on negotiations if you have your business’s financial statements, business plan, and credit history ready to share.
Best Locations and Property Types for Growing Businesses in Atlanta
Atlanta’s neighborhoods all have their own vibe. Where you choose to locate depends on your business niche, clientele, and employees.
Midtown – Think of Midtown as Atlanta’s center of technology and innovation. Georgia Tech acts as a hub for startups, advertising agencies, and big tech firms. If you’re looking for trendy office space for your tech firm or knowledge-based company, look no further than Midtown.
Buckhead – As Atlanta’s financial district, Buckhead is known for its Class A office buildings, high-end retailers, and fine dining. Looking to impress clients? Do business where the wealthy shop. Buckhead has class and the credentials to back it up.
Downtown – For sheer density of office buildings and government buildings, there’s no beating Downtown Atlanta. Large blocks of office space mean you’ll be able to find everything your business needs in one place. Proximity to convention centers and hotels is a plus if your business requires hosting meetings and events.
West Midtown – West Midtown is an up-and-coming neighborhood that was formerly known for its industrial factories. Today, it’s known for its loft-style offices, art galleries, and bobbing hipsters. If you have a design firm or marketing agency, or you’re going for a more casual vibe, West Midtown could be your new home.
As far as property types go, here’s what’s available in Atlanta:
Office space – From single office suites to multi-floor buildings. You can find office space in Downtown, Midtown, and Buckhead.
Retail space – If you have a brick-and-mortar business that requires customer-facing operations, this is the type of space you’re looking for. Retail spaces are most concentrated around Lenox Square and Phipps Plaza.
Coworking space – Every startup wants to work in a cool space. If you’re a solopreneur or your entire team works remotely, coworking spaces are a great option to have an office without the long-term commitment.
Industrial space – Need space for logistics, manufacturing, or warehouse? You’ll find many options for industrial space throughout Atlanta.
Final Words
Atlanta was designed with business in mind. With varied communities, robust infrastructure, and an active commercial real estate market, you have many strong options. Just remember to go into your search prepared. You should understand your requirements, budget, and lease, and connect with local experts who understand the market. Be patient, do your homework, and you’ll find the perfect space for your business.
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