Demand for commercial real estate in the Denver market is at an all-time high. According to the Colorado Real Estate Journal, office space also commands top dollar. And anyone with a computer can find a commercial space with a simple cursory search on the internet. But how do you know how much space a listing on the internet really offers?
A tenant representative can help and an important consideration in finding the perfect space is finding one that doesn’t have too much “dead” space.
WHAT’S DEAD SPACE?
Simply put, “dead space” is unusable space. Since commercial real estate is priced on a per-square-foot measurement, listings tend to show the full square footage, leading you to believe the place is larger than it really is. But an experienced tenant or buyer representative will explore the space personally and assess how much of the space is actually usable.
Bill Trinen of Trinen Realty Partners said, “There are oftentimes sharp corners, curves and other odd shapes that can diminish the amount of space usable for certain types of businesses. Plus, an office tenant will have different needs than, say, a restaurant.”
How do you know you’re getting the most commercial space for your money?
Working with a tenant representative can give you valuable leverage. They can use the information gathered in a site visit to redress the issue with the listing party and help you get more for your money. Since your retail or office space lease is usually the second largest line item, this is particularly important.