Buying Office Space In Greenville, South Carolina

When buying office space in  Greenville, SC and elsewhere around the country, you will find that it is a much more complicated and involved process than buying a house.  There are many different zoning laws and also various permits and such that need to be obtained if you plan to do business.  You won’t just walk into a commercial property and say “Looks good, I’ll take it!”  There is much to consider before you sign a contract.

Your first step should definitely be to contact a reputable commercial realtor.  The commercial real estate agent will do the leg work of the search for you and contact you when they have found one or more properties that they feel will meet your needs.  Any good commercial realtor will want to sit down with you beforehand to discuss what type of business you need the space for, and any unusual needs you may have for your particular business, such as special restaurant equipment you may need to build on the chosen property, if it’s a lease.  Special equipment, in that instance, would be something like a brick oven, or a wine cellar.  Some commercial properties are zoned for specific things, such as farming or real estate development.  Other commercial real estate signs will tell you “Medical office space for lease or purchase”.  You and your realtor will do much research when looking for the perfect property to buy or lease for your business.  It would also be extremely prudent to hire yourself a sharp and experienced commercial real estate lawyer to look over every scrap of paper exchanged between you and the property owner.

Another thing to consider, if planning to lease a commercial property, whether in Greenville, SC or elsewhere, is the exact wording of the contract.  Let’s just say, for instance, you are wanting to open a pub, or tavern, in Greenville, SC, and you think you have found the absolute perfect spot.  So, you get together with the commercial realtor and they tell you what the property owner is asking for, as far as lease terms—cost per month, length of lease, what happens if you default on your payments, etc.  The contract must be gone over, line by line, word for word, by your attorney.  Any good commercial real estate lawyer will have several meetings with you to go over the language of the contract because just one slight error on your part, one little oversight, could wind up costing you your business.

Let’s say, just for an example, you sign your lease contract after just a cursory once-over between yourself and your lawyer.  So, you work yourself to death getting the property ready for the “Grand Opening”, and you put all your heart and soul into making this the best pub in the city of Greenville, SC or in the whole state.  From the time you open your doors, your business is a complete, resounding success.  What you failed to notice, in the contract, was a little clause, in very fine print, that stated the property owner would receive 30% of all your profits on the business, and that failure to make good on that 30% payment, in addition to the $5000 per month rent for the property, will put you in default on your lease.  The owner would then not only still own the building, but he would also be able to capitalize on your hard work and success.

That example is a bit exaggerated, but it could happen to anyone who did not take the time to do his homework, hire the right people to look out for his commercial real estate interests in Greenville, SC or anywhere else. 

If you want the BEST commercial realtor in Greenville, SC, call Doug Sprayberry Today 864-757-2222