Commercial Space 101

Understanding the ins and outs of lease negotiation, a commercial build-out process, and navigating the complex regulatory process are daunting tasks for a local business. Unlike national chain stores or large corporations who have a team of consultants to handle this aspect of their business, local businesses often have to learn or guess what to do on the fly, while trying to accomplish other critical tasks necessary to start—or continue—operating a business.

Lowcountry Local First’s Commercial Space Advisory Team is here to assist local businesses with the task of answering these questions in a professional and confidential setting. Locals experts helping local businesses.

The Advisory Team is not intended to replace the services of professionals in the real estate industry. Rather, it’s meant to offer advice and guidance in an unbiased, objective and limited format. It’s a starting place, really.

Prior to utilizing this program, we encourage you to review available commercial spaces and price per square foot in your target market on Loopnet.com. Trying to calculate monthly rent on a potential commercial space? Use the space need estimator and cost calculator that Austin Tenant Advisors created to help you estimate. 

WHO SHOULD APPLY?
 All industries and business types are invited to participate. LLF staff will respond to all inquiries and determine if a consultation is appropriate.

NOT QUITE READY YET?
We offer a 13-week Community Business Academy each spring and fall for aspiring entrepreneurs of all backgrounds and experience levels. Learn more and complete the program inquiry form to receive notice of upcoming academies. This program is offered in English and Spanish.

EXAMPLE ADVISING MAY INCLUDE:

• Pointing local businesses in the right direction. (Do you need an architect? How much space do you need? Etc.)
• Offering ideas or different solutions to consider. (What if you lease a bigger space than you need and sub-lease to a friend and share a conference room?)
• Confirm marketplace assumptions. (What can I expect expense pass-throughs to be? How can I compare a full service lease with a net lease?)
• Explaining common lease terms. (What needs to be considered given my business plan? Should I engage an attorney?)
• Permitting and zoning. (I have a great opportunity to lease a property, but the zoning doesn’t fit my business. What next?)

Ready? Fill out the Interest Form

COMMERCIAL SPACE ADVISORY TEAM MEMBERS 

Thank you to our funders for supporting this project:

CONTACT:
To learn more please contact Ryan Kortrey at ryan@lowcountrylocalfirst.org phone (843) 801-3390.