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For nearly 75 years The Robert Weiler Company has been setting trends and making news.
Bob Weiler always says, "Vision, Knowledge, Integrity and Patience are the cornerstones to success,
and when combined with a little luck, incredible things can happen".
Thinking about relocating? You’d be in for a great life ahead if you decide to buy Columbus OH real estate. Why is that, you ask?
Columbus OH is one of the fastest growing major metropolitan areas in the U.S. And it’s celebrated as the second strongest metro in the U.S. for job creation. Below are several quick facts about Columbus, Ohio:
Columbus realtors need to look no further for a top-notch realtor association than the ColumbusREALTORS®. With their mission being to provide leadership and education to the community, this group has done exactly that since 1908; most notably, in their association sponsored events and classes.
Have you been taking advantage?
For members of the ColumbusREALTORS® association, monthly events provide a way to network, build their expertise, and gain experience in varying areas of real estate. Aside from events, members also have the opportunity to expand their knowledge with classes hosted by industry leaders and professionals. If you’re not yet a member but want to experience an event or class, some are even available for non-members.
Are you toying with the idea of getting involved in the commercial real estate investment world? Have you been performing Google searches on commercial properties or commercial real estate investment ideas, only to find reasons not to move forward?
The idea of placing a large sum of money into a commercial property may be a daunting exercise, but your friends at The Robert Weiler Company are here to debunk a few misconceptions you may have read. In a world where “fake news” is the buzzword of the day, here are four ideas that might be holding you back (when they don’t have to):
With recent headlines focused on politics, protests, international disputes, and a solar eclipse whose path of totality was within a day’s drive of Buckeye State residents, Ohio commercial property owners may have overlooked or forgotten that a statewide property tax reassessment is nearly complete.
Listing apartment buildings for sale, or any commercial property for that matter, can be a grueling and time-consuming task. And, as a broker or agent, who has time to perform the research on the best sites, input all the listing details, and monitor the traffic? You want to get your listing in front of as many interested buyers as possible, and you want it done now. So, where can you go?
If you have been an avid investor over the last few years, you know that there hasn’t been a better buy than Columbus real estate. Home prices and sales continue to trend upwards, population growth shows no sign of slowing down, and business expansion is seemingly the norm. So, why are you waiting to make that commercial real estate investment?
The Arch City not only has a diverse population; it also has many different types of real estate, ripe for your investment. Commercial real estate in Columbus, Ohio primarily includes apartment buildings, retail centers, industrial warehouses, land for sale, and office buildings. As such, determining where you put your money is immensely important. Below are some considerations for each property type.
Feeling a bit overwhelmed by the thought of a commercial real estate appraisal? The process can be daunting, especially if you’ve never engaged in an appraisal before. After all, it is a detailed activity that can look different depending on the scope and nature of your property.
To simplify and demystify the appraisal process for you, we have addressed ten of the most important questions asked. So, take a deep breath, read on, and be prepared to gain a deeper insight into this important real estate topic. We believe that you’ll feel better informed, more confident, and maybe even a little enthusiastic when it is time for you to schedule an appointment with a property appraiser.
Investing in Ohio real estate is an excellent way to grow your portfolio and make a handsome profit. Alas, for those new to the game, it can also prove to be a daunting experience. The learning curve is steep, stressful, and risky; newbies may not have extra money lying around in the event of a costly error. Even experienced Columbus realtors and investors make bad decisions occasionally.
We’ve seen a lot of blunders over the years. Want to avoid the most common slip-ups and save yourself time and money? The Robert Weiler Company team has compiled a list of seven mistakes people make when investing in commercial property.
If you are one of over 15 million avid hunters in the United States, then you know the importance of pristine hunting land for sale. Whether you are in search of the perfect place to visit with your buddies or a property where you can truly “live off the land,” there is a checklist that you must follow. So, what should you be looking for? What are the perfect ingredients that create ideal hunting land conditions? Before you write a sizable check to make that important purchase, be certain that you have the right components for hunting success.
In 1970, Earth Day was born. Today, millions of people spanning 184 nations honor Mother Earth by reminding global citizens how to take care of our shared environment. As a leader in commercial real estate, we are honoring Earth Day 2017 by rounding up six of the coolest green building trends currently sweeping the industry. Also, we have created a brief overview of several local buildings native to Columbus, Ohio that are utilizing some of these trends in innovative ways.
Commercial real estate is an exciting, interesting, and rewarding field to dive into, as your work can help shape an entire community. Thinking about starting your own firm? There is a slew of aspects you need to consider. Not sure where to begin your journey with running a thriving organization in a rapidly growing industry?
Here’s a practical, 10-step process to establish your own CRE firm from the experts at The Robert Weiler Company:
East Franklinton Creative Arts District is receiving a large-scale makeover, thanks to a mixed-use project dubbed, “River & Rich.” The project is being developed in partnership with The Robert Weiler Company, CASTO, Kelley Companies, Columbus Metropolitan Housing Authority, and Smoot Construction, all of whom celebrated the groundbreaking on April 3, 2017.
The project has proposed the creation of 230 residential units, which will include a mixture of garden apartments and townhouses. There will also be 25,000 square feet of retail space and a double-decker parking garage included in this nine-building development project.
Next to the Baby Boomers, arguably no other group in American history has been the topic of so much conversation than Millennials. A diverse cohort ranging in age from their late teens to their mid-thirties, the group continues to make waves. In fact, Millennials will make up 75% of the workforce in less than a decade, according to the latest Pew Research.
As the first Internet generation to enter maturity, Millennials are transforming the commercial real estate industry with their unique viewpoints and advanced technological needs. The group’s collective influence has become so powerful; some are calling it the “Millennial Effect.”
Are you interested in learning about land brokers – including their responsibilities, the types of transactions they specialize in, and whether this might be the right career path for you? Well, you came to the right place! We, at The Robert Weiler Company, have highlighted important information that we think you’ll find useful. As one of the top commercial real estate firms in Columbus, Ohio, we’re here to provide you with everything you may want to know about this field. Continue reading to learn more about this interesting, challenging, and rewarding career.
What Are Land Brokers?
First and foremost, let’s discuss exactly what a land broker does. Simply put, they are responsible for the negotiation and acquisition of land. They gain the rights of way for commercial and industrial purposes; this can include developing well sites, pipelines, coal mines, power lines, roadways, and much more. Typically, oil, gas, and mining companies, as well as engineering firms, and government agencies employ these professionals. The salary range varies, depending on location, education, and experience. However, according to the 2010 United States Bureau of Labor Statistics, those employed in the Real Estate Brokers and Sales Agents occupational group earned a median salary of $42,680 per year in the USA.
Land brokerage is a complex, diverse, and specialized niche in the real estate industry. Some key responsibilities include identifying property disposition and acquisition opportunities, acting as a public affairs liaison in communities on behalf of their employer, and maintaining the land inventory of the employing municipality. When evaluating properties, these professionals must consider many facets, such as wildlife protection, hazardous waste disposal, and all necessary permits. They should also be knowledgeable about local land ordinances and zoning issues.
Types of Land Transactions
There are several types of transactions that land brokers can specialize in. Your place of employment will determine which types of projects you work on. They include farms and ranches, undeveloped tracts, transition or early development stages, subdivision and lot wholesaling, and site location and assembling parcels. Each transaction differs and requires a unique set of skills, as briefly outlined below.
– Farms and Ranches:
The person brokering a ranch or farm for sale in Ohio needs to know specific information in order to properly determine the value of properties; this may include crop rotation, weather cycles, over-grazing, water rights, and the latest happenings from the Environmental Protection Agency (EPA).
– Undeveloped Tracts:
Brokering tracts of undeveloped land – especially those near fast-growing urban areas – requires knowledge of local business trends, employment, urban growth patterns, land use regulations, and development costs. Possessing top negotiation skills in the corporate environment is also a key asset.
– Transition or Early Development Stages:
Working with transition or early development land could include anything from closed military bases to tracts set aside for specific developmental purposes. In any case, the purpose of the tract is usually predetermined. Therefore, property brokers should be informed about the economic viability of the approved uses and the required development costs. They should also know about governmental and tax incentives in order to reach the best deal possible for all parties involved.
– Subdivision and Lot Wholesaling:
If you specialize in subdivision and lot wholesaling, this means you prefer to purchase an undeveloped tract, acquire the approvals, subdivide it, and install utilities, roads, and other infrastructure. You then wholesale the lot to builders for then construction of homes or commercial properties. To be successful, these types of lot brokers require commercial and residential expertise, as well as the capability of marketing to builders.
– Site Location and Assembling Parcels:
This highly specialized niche requires you to locate parcels for a specific buyer or purpose. This often requires negotiations with various owners to acquire enough adjacent land for the proposed project or development.
Do You Have What It Takes?
People with certain characteristics are more likely to succeed in a career as a land agent. The most important traits to note are excellent oral and written communication, strong negotiation and organizational skills, and the ability to manage both business-to-business and business-to-customer transactions. You do not need a specific degree to obtain a job in this field; although, it doesn’t hurt to have knowledge or experience in geography, environmental studies, marketing, management, economics, and/or commerce. There are also several career choices loosely related to this field, including a commercial realtor, insurance agent, and travel coordinator, which might be worth pursuing, as well.
Join the Club
If you become one of the many land brokers in Ohio, it is wise to join the REALTORS® Land Institute. This esteemed institute acts as a global network of land professionals; it provides you with the education, tools, advice, and networking opportunities needed to become an Accredited Land Consultant (ALC).
Trust The Robert Weiler Company!
The Robert Weiler Company knows what it takes to be successful at brokering Ohio land for sale. As a full-service commercial real estate brokerage, development, property management, appraisal services, and CRE consulting firm with 80 years of experience, we have a competitive knowledge of the market and a value that you won’t find at any other firm. Keep us in mind if you have any questions; we’re always here to help future land brokers.
Considering an investment in commercial real estate? Want to build a successful portfolio with an attractive rate of return? A multi-family property may be a solid investment option for you.
Jones Lang LaSalle, a financial and professional services firm specializing in commercial real estate, recently published a report on CRE trends. This report indicates that the market for multi-family commercial properties is growing, boasting record U.S. sales of $150.3 billion for 2016. So, what are you waiting for? Below are five reasons why you should consider an investment in a multi-family commercial property.
As the seasons change, a property manager must be ready for any weather condition. And, much like a mail carrier, those overseeing apartment buildings for sale or other similar properties follow the same creed:
“Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds”
This famous phrase may be inscribed on one of the most famous post offices in the United States, the James Farley Post Office in New York City, but it might as well be etched onto the doorway of any property manager, building supervisor, or facilities personnel. Whether it’s spring, summer, autumn, or winter, the retail space for lease or warehouse space for rent must be prepared for the seasonal change.
Spring Offers a New Host of Challenges for a Property Manager
The old idiom about March, “In Like a Lion, Out Like a Lamb,” couldn’t be more true, especially after the harsh winter that we traditionally experience in Columbus, Ohio. Springtime is about rejuvenation, so it’s a great time to do some cleaning and restore that curb appeal. Even a warehouse rental can use a little sprucing up on the outside!
First things first; clean up any dead plants, broken limbs, and any other debris that may have been damaged under the snow or as a result of a snow plow or shovel. After that, pruning and planting may be in order. If you own an apartment complex with an outdoor space, such as a courtyard, invite the tenants to help plant new shrubs and flowers. Not only will this improve the property’s appearance, but also, your tenant community will get to know one another.
Spring is also a great time to check in on important equipment, namely smoke, and carbon dioxide detectors. Make it a habit to replace all batteries, even if they are relatively new. Better to be safe than sorry! In addition, you should look at the HVAC system and even call upon a professional to test everything, clean filters, and ensure that your tenants will be comfortable in the summer heat.
R, R, and R: Summer Is For Rest, Relaxation, and… Repair?
We can all appreciate the “downtime” that comes along with summer; but the nice weather also is an opportunity to plan for major repairs and capital work on your property, regardless if it is retail space for rent or a condominium. Roof repair, sidewalk repaving, painting, or structural updates all fall under this category. Why not make the necessary improvements you need to guarantee that tenants stay put?
If you are planning a major improvement project and are looking to carry it out during the summertime, you might want to rethink the timing. Summertime is a busy season for most contractors, so it’s best to conduct the necessary research, budgeting, and coordination before the sidewalk starts to show from underneath the snow. In addition, these projects usually “take a village.” As such, plan to be onsite as much as possible to ensure that everything is going smoothly.
The summertime is also a great time for you to review bills and renegotiate contracts for properties – especially during those steamy afternoons, where it is even too hot for a dip in the pool. Because you’re halfway through the year, it’s easy to see how your property is trending on utilities and maintenance.
Don’t Fall for Autumn’s Spell – You Must Remain Vigilant Against Leaves
Autumn may bring a beautiful array of colors atop your property’s trees; however, property managers are aware that this season can bring quite a mess as the leaves make their landing on sidewalks and paths, as well as on rooftops and in gutters.
Don’t wait until the last minute to create an autumn cleaning schedule for your apartment buildings. Not only do leaves block important drainage areas, but also they become quite slick when wet. You are responsible for the safety of the tenants. Why risk a lawsuit should someone slip and fall?
Gutters, including downspouts, should be inspected and cleared on a weekly or bi-monthly basis. You should also walk the perimeter of the building or warehouse rental space in order to make sure that there is no pooling of water around the foundation; this might cause erosion and leaks. And, of course, don’t forget to have all the equipment necessary to clear walkways. The items to help you do the job should include blowers, rakes, and brooms.
Whether you are a property manager in Columbus, Ohio or throughout Franklin County, as well as Licking County, Delaware County, Union County, Fairfield County, Pickaway County, or Morrow County, leaves are a part of life, so let’s deal with it sooner, rather than later.
“Baby, It’s Cold Outside” – Winter Will Test Your Property’s Fortitude
Central Ohio has seen its fair share of snow over the last few years. And, we also know how cold it can get! So, why wait to take care of your commercial building, multi-family unit, or retail space? Below are three ways you can ensure a clean, safe, warm, and enjoyable winter for your tenants:
- Book snow removal services… now! Before the first flake sticks to the ground, make sure you have the individual or team ready to remove snow from driveways, walkways, parking lots, and even roofs. If you have a plow and/or snow blower on hand, take them for a test run. Tenants in your apartment buildings for sale understand inclement weather, but they also want a way out in case of emergency.
- Inspect and wrap pipes. Many properties, especially warehouse space in Columbus, Ohio, have exposed pipes that can cause a dangerous (and messy) situation when the temperature drops. Get some foam sleeves and wrap those pipes to prevent freezing and bursting.
- Check for heat escape. Take the time to walk the property you are managing, whether a retail rental space or multi-family housing unit, and examine doors and windows, as well as the roof, for any cracks, gaps, loose caulking, or damaged weather stripping. It’s best to make these repairs as early as possible in the winter before the weather starts to be unbearable.
The Robert Weiler Company is Ready for Any Weather Condition
Property management is not for “the faint of heart.” Your strip mall, apartment building, industrial space, or office units need an experienced and consistent team that knows how to manage your property regardless of the season or weather condition. At The Robert Weiler Company, our property management team understands the Post Office dogma and can deliver! The next season is approaching, so reach out and to speak with a property manager on our staff by calling 614-221-4286.
Over the last few years, Central Ohio real estate, especially within Columbus, has been highly sought after. That’s why choosing the right commercial appraisal firm is essential to ensure you get a thorough, accurate assessment of the value of your commercial property.
Since commercial real estate appraisals involve a much more complicated process and are more subjective than residential property appraisals, you want to make sure you select an experienced commercial real estate firm that is familiar with the type of property you need to have assessed. Why leave the valuation of your investment in the hands of just anyone?
In Ohio, land development continues to flourish and your farms for sale may be a hot commodity for commercial real estate investors and brokers alike. Is your land perfect for the next shopping center, entertainment venue, or multi-family housing unit in your area? If you’re unsure of the investment potential of your farm land for sale, you may want to better understand the zoning restrictions in your area and the process of rezoning.
What is Zoning and What Does it Mean for Your Farms for Sale?
Property zoning dictates the use of your land for sale in Ohio, whether it can be used for residential, agricultural, commercial, or industrial space. So, if you’re planning to hit the market with your farms for sale, you may want to check in with your local municipality (city, township, county, etc.) to better understand the restrictions on your land use.
Did you know that Ohio is the birthplace of today’s current zoning codes? The landmark case of Village of Euclid, Ohio v. Ambler Realty Co. in 1926 by the United States Supreme Court helped establish the precedent of zoning ordinances nationwide. As such, your land for sale in Ohio needs to go through a process of rezoning before the land can be used for anything other than farming.
Before 1926, zoning boards did exist to restrict how property owners used their land; however, it was widely viewed as meddling into private property rights. Today, Euclidean zoning is predominantly used within most municipalities to determine how land should be used, whether for residential or commercial real estate in Ohio. Essentially, Euclidean zoning is characterized by specific land uses that are grouped together; for instance, housing in one area and warehouse space in another area.
Now that you have a little background on what zoning is, how do you get from “kickoff” to “end zone?”
Prepare for the Kickoff: Do Your Research
There’s good news about commercial real estate zoning restrictions for your farm land for sale… These restrictions are usually easily accessible if you know exactly who, where, and what to ask. First, visit the office of your local municipality. They can direct you on where to go for all the zoning information you need.
Are you in Columbus, Ohio, but not sure where to go to rezone farms for sale? Check out the Building and Zoning Services page of the City of Columbus website, which has the location you should visit to speak with a zoning representative, as well as the names of the individuals you might want to meet with while you’re there. Undoubtedly, much of the zoning laws you will want to review are available online; however, developing a relationship (preferably off-line) with zoning officials is suggested (particularly if you plan to go through the rezoning process).
Once you’ve met and spoken with someone in your municipality about your farm land for sale in Ohio, you’ll want to research zoning ordinances, as well as how to apply for a variance or change the zoning laws. You may require an attorney at some point in the zoning process, but try to do some of the initial legwork before adding the legal expense. Once you have gone as far as possible in the process, hire an attorney to take on some of the research and start to create an action plan for the rezoning process.
Lastly, see what’s happening around you. If your farm land for sale is surrounded by new shopping centers and housing developments, it’s likely that the process for rezoning your property will be more straightforward. In addition, every municipality has an outlook for land use in the future, so make sure your visions for your farms for sale are aligned with theirs.
Rushing Towards the End Zone: Applying for Rezoning
The process for rezoning your farms for sale will not be an easy one. The process, from start to finish, typically lasts 90 – 180 days. You’ll likely need legal assistance, as well as the help of a commercial real estate firm; however, depending upon the potential income or profit, the rezoning process may be worth your time, money, and effort.
Step 1: The Application
Every municipality requires different information when rezoning farms for sale; however, there are standard requirements for each application – most notably:
- Current zoning classification for your farmland for sale
- Proposed change in how you plan to use the farmland
- Map and parcel number for your land for sale in Ohio
- Application fee (which could range in the thousands of dollars)
Step 2: Public Notification
Some states and local governments require that property rezoning be listed in a local newspaper. Your proposed change in land use could have a major impact on your neighbors, so they need to know what you’re doing with your farms for sale.
Step 3: Application Review
Each application comes under the review of a zoning board, who will likely perform an inspection of your property, along with an assessment of neighboring residential and commercial real estate, evaluation of public services in the area, and review of any rules, ordinances, and long-term plans for the municipality.
Step 4: Public Hearing
If everything passes the review process for your land for sale in Ohio, the zoning board will vote on your rezoning application. Zoning board meetings are traditionally open to the public in order to give members of the community a forum to voice their opposition of, or support for, your request. Once everyone has received an opportunity to speak, the board will vote on your application.
Step 5: Legislative Action
At the zoning board meeting and public hearing, the board can either recommend or deny your request for the change in land use for your farm land for sale. If they choose to recommend your application, it usually goes to a city council for final approval. This process could take several months, depending upon how often they meet and any mandatory waiting periods that need to take place. The good news is that approval means you’ve made it to the end zone! Score!
Getting Your Farms for Sale into the End Zone
With almost 80 years spearheading hundreds of Columbus Ohio land development and commercial real estate projects, The Robert Weiler Company has a deep understanding of navigating zoning restrictions. If you’re ready to list your farms for sale and need an expert to assist you with the zoning process, contact us at 614-221-4286.
Ohio land for sale couldn’t be hotter. As home prices continue to climb to record levels through 2016, it’s easy to understand why the Ohio land for sale has become so attractive, whether you’re a homeowner, property manager, or commercial real estate investor.
With an extremely low inventory of new homes coming onto the market, this is making the prospect of buying farms for sale, or any land for that matter, more and more attractive to many in the commercial real estate industry – as a developer, property manager, or investor. As the chart below illustrates, if this trend continues, home prices are going to be inflated to the point where many may not be able to afford a previously-owned home, leaving the door wide open for developers to fill the gap.
Ohio Land for Sale and Housing: Low Inventory
A large contributing factor in the rise in home prices for 2016 is the low amount of inventory available for homeowners to choose from. Any property manager will tell you that this is the definition of a seller’s market. Don’t believe it’s time to sell? Consider this: the amount of time a home is on the market has dropped from 47 days to 35 days. Without an influx of new homes being built on Ohio land for sale, the trend of decreasing inventory is likely to continue.
Not surprisingly, the low inventory problem is not unique to homebuyers. The same trend is being duplicated in the commercial real estate space, too. From big box stores to independent mom-and-pop shops, commercial activity is on the rise and vacancy rates are dropping. Not only are prices for housing and land for sale in Columbus Ohio increasing, but rental lease rates are, as well.
Take the Central Ohio Commercial Retail Report for the second quarter of 2016 as an example of the inventory problem within commercial real estate. Columbus REALTORS® reported a net positive absorption of 610,324 square feet of inventory. Over half of this absorption was due to large box stores opening, as well as grocery stores and a casino. The second quarter of 2016 vacancy rate declined from 6.2% to 6% when compared to the first quarter of 2016; and declined from 6.6% when compared to the second quarter of 2015. This trend is extremely encouraging for landowners of Ohio land for sale who are looking to expand their commercial offering; it’s also encouraging for those looking to invest in vacant farms for sale.
Columbus, Ohio Chasing the Vallejo, California Sunshine
According to the latest report from listing website realtor.com, Columbus was the nation’s 11th hottest real estate market in June 2016, and the 6th hottest real estate market in July 2016. Only three locations outside of California were able to crack the top ten. With most locations only moving up or down one spot at a time, the jump for Columbus Ohio is considered very large. From prices rising and inventory of homes and farms for sale dwindling, this is a trend that is likely to continue for some time. For an investor, homebuyer, or property manager who is contemplating investing in acreage for sale in Ohio, the time has never been better.
One of the largest contributing factors in Ohio’s recent housing and commercial real estate sector growth is the affordability of living, relative to wages earned. According to a new study by the financial website gobankingrates.com, residents of Ohio would only have to work 30.76 hours per month to afford their homes. This is, by far, the lowest number of hours required in the country. Higher wages and relatively lower home prices had the most dramatic effect on this calculation. Comparatively, a homeowner in Hawaii must work 88.13 hours per month in order to afford their home.
The biggest question is: What does this all mean? With lower borrowing rates here to stay, it means that there is a lot of room for housing prices to continue to increase. As more people discover the relatively lower cost and a higher standard of living in Ohio, a family, investor, or property manager might consider establishing roots in the area and the fact that recent price increases are likely to continue.
But what does it mean for a developer, property manager, or landowner? As people continue to move to Ohio for the affordability of the area, this will also increase the demand for commercially available services. Recently, residents witnessed the opening of the Tanger Outlets, several shopping centers, and a casino. With commercial real estate vacancy rates dropping and an increase in population on the horizon, the value of farms for sale (whether commercial or otherwise) is likely to spike.
For the Ohio-Based Homeowner or Property Manager
You made an excellent choice. The investment in your home or building was a good one. The value of your house or building is increasing and it’s likely to do so for years to come. Any improvements that you wish to make, including renovations, are likely to yield a positive return on investment.
Land Owners with Ohio Land for Sale
You, too, have made an excellent choice. The value of your Ohio land for sale is increasing significantly year-over-year; and if you are facing retirement or would like to diversify your Investments, now would be an excellent time to sell. Although prices are likely to continue to climb, selling your farms for sale in a hot market is almost always considered a good idea.
If you do choose to sell your property, make sure that you partner with a firm that is reputable and has the most connections to those who are looking to buy farms for sale. Connecting with a commercial real estate company will ensure you maximize your return on investment and leave you with the confidence in knowing you made the absolute best decision.
Ohio Land for Sale: Invest, Develop, and Hold
Based on all the information we have today, it is clear there’s never been a better time to invest in land in Ohio. For those looking for a long-term investment vehicle, land in Ohio is the best choice. If you are an investor or property manager considering long-term investment choices, the most common advice is to get in as early as possible and hold for the long term. What most people don’t consider with long-term investments is trying to hit the nail on the head, in terms of market entry. The reason this isn’t talked about often is because the ability to recognize such an opportunity is rare. These limited windows of opportunity are actually atypical. They don’t happen very often, but for those lucky enough to recognize an opportunity when they see it, the timing couldn’t be better.
Ohio Land Investors: Short Term Buy and Sell
For those people who are not a fan of the long-term investment and would prefer to make their money and get out of the market, now is the time to act. We’ve seen the increases happen in the last couple of years, and Ohio is now hitting the top of the list, as far as hot housing markets are concerned. While this trend is likely to continue for the next several years, it won’t last forever. At some point, the market will plateau and the opportunity for significant short-term gains from your homes or farms for sale will disappear. If you are a short-term investor, the longer you wait, the lower your return on investment. If you’d like to take advantage of this significant opportunity but are unsure how to approach the situation, there are commercial real estate experts available to help you.
Hire a Real Estate Firm that Specializes in Land Ownership, Buying, and Selling
If you hope to get the best return on investment from your Ohio land for sale, it’s a good idea to deal with experts in the field. And, if you want to sell your land quickly, it is in your best interest to showcase your property to the biggest pool of buyers possible. Combining expertise and exposure will almost guarantee that you maximize your return on investment and give you the confidence in knowing you achieved top dollar for your property.
Conversely, if you are considering investing in Ohio land for sale, you need to be working with commercial real estate experts to ensure that you’re looking at all available properties that match your criteria. An experienced expert, with a wealth of local knowledge, can help you find the exact type of property that you are seeking. They will likely be aware of properties that are coming up for sale, as well as those currently listed. By casting the largest net possible, you are likely to find the property that best meets your wants and needs.
The Robert Weiler Company
With close to 80 years in the Central Ohio commercial real estate market, we know how to find you the perfect office space, buildings, land, or farms for sale that will suit your investment needs. Whether you are looking for a long-term development option or a short-term investment vehicle, we know the properties; we have the experts; and our service and dedication are unmatched. Contact one of our agents today at 614-221-4286 to find out why buying Ohio land for sale through The Robert Weiler Company is a smart decision for you.
Warehouse space in Columbus Ohio and throughout the United States is disappearing as it’s becoming scarcer and pricier. If you’re a business owner looking for a place to house all those consumer goods, widgets, or machines, what can you realistically do to find, lease, and organize a warehouse rental near you?
Step 1: Finding Your Warehouse Space in Columbus Ohio
Even as the economy improves, warehouse space in Columbus Ohio and beyond continues to dry up. After years of sluggish economic growth, the construction of industrial units and warehouses stagnated. Now, builders are trying to keep up with new demand; however, if you’re looking for Columbus warehouse space today, you’ll need to plan accordingly to find the space you need.
So, how can you find warehouse space for rent in Columbus Ohio within this saturated marketplace? It may sound cliché, but it is important to work smarter, not harder, to find what you need for your business, products, and assets. Below are a few tips to consider when conducting your commercial property search:
Anticipate needs as early as possible.
In this market, you need to think ahead. Make sure you formulate accurate projections in order to best understand your need for space. If you don’t know what you’re looking for, how can you even get started?
Have a current landlord? Talk to them!
If you’re currently leasing a warehouse rental and you’re looking for additional units elsewhere or simply seeking an upgrade, it might be best to speak with your current landlord, first. Chances are that they have other spaces available for your use. Not to mention, you’ve already built a strong relationship; why not use it?
Let the bidding begin.
When supply is not on your side, you might have to make certain concessions in order to obtain the warehouse space in Columbus Ohio that you need. One way to make this happen is rent pre-payment. What landlord will turn down money in advance?
Did someone say subleasing?
LawDepot™ explains a sublease as, “… a legally binding contract made between a tenant and a new tenant… The sublease gives the subtenant the right to share or to take over the rented premises from the first tenant.”
It may not be ideal to “piggy-back” space from another tenant, but it could be the best direction when there’s limited availability. Don’t make a rash decision, though. Conduct due diligence on both the tenant you’re subleasing from, as well as the landlord.
If all else fails…
In an ideal situation, you’d like to have your own warehouse space in Columbus Ohio, but sometimes it is better to take advantage of the right opportunity. That’s why there are third-party logistics providers, who will not only help you with warehousing, but with transportation and operations, as well.
Step 2: Leasing Your Space
If you’ve made it past the first step, congratulations! With demand for warehouse space for rent outpacing supply, you should consider yourself the lucky one. Nonetheless, leasing your space can be an equally challenging process.
Unlike leases for residential property, a commercial property for lease does not necessarily have a standard format. As such, you may need to work intensively with your landlord to create a lease that meets all of your specifications.
Also, feel free to request a pro forma lease agreement. This document will include all of the standard language and terms of the landlord’s agreement, which will better prepare you for any future negotiations.
Below are some other aspects of the commercial lease and leasing process you should consider for your new warehouse space in Columbus Ohio:
Do your homework on your landlord!
If you’ve landed on this article, kudos! It looks as if you’ve already started your research; however, your homework should center on the landlord. Who are you dealing with? Are they recognized in the community? Do they have any legal problems?
A simple Google search might surface some information easily, but don’t hesitate to reach out to consumer protection agencies or a local courthouse. In addition, you may want to check the experience of the current tenants.
Verify usable square footage.
Believe it or not, many landlords calculate square footage differently for warehouse space in Columbus Ohio. As a tenant, you want to verify that you are paying for usable square footage, as opposed to square footage that measures from the outside wall.
Where did the rental rate come from?
First and foremost, some lease agreements include either a gross lease or net lease rate. The most common lease is based on a gross rental rate, which means that the rent includes everything except for the landlord’s responsibility of taxes, insurance, and maintenance. Net leases tend to be riskier; the landlord may offer less rent, but shifts the responsibility of taxes, insurance, and maintenance to the tenant.
In addition, the rental agreement should clearly state how the rental rate was calculated. Oftentimes, a rental chart is included to explain current and future rates.
What are your obligations?
You may be responsible for certain aspects of the warehouse rental, so read your commercial lease carefully. Your new landlord may ask your company to foot the bill for maintenance and repair, which will ultimately add to your costs and impact your bottom line.
In addition, you may be surprised to know that many industrial buildings are not equipped with full heating, ventilation, and air conditioning. Furthermore, as the tenant for warehouse space in Columbus Ohio, you may be responsible for the installation costs. This could be a huge negotiating piece, so make sure you inquire early on in the process.
Hire an attorney.
Ultimately, you may save yourself a lot of money and lower your stress level by hiring an attorney, who specializes in commercial lease agreements for warehouse space for lease. An attorney in the commercial real estate field will understand the specifics outlined in your agreement, which will put you in a better position to negotiate.
Step 3: Organizing Your Warehouse
Congratulations! You are now the proud new tenant of your own warehouse space in Columbus Ohio. What’s next?
Time to move in! This process shouldn’t be taken lightly. There is actually a lot of planning involved in your warehouse setup. And, if you are using this space for the first time, you have a great opportunity to create the environment and workflow your business necessitates. Below are some ways you can maximize your space and generate a significant return on investment:
Set aside time for analysis.
There is much to consider when opening up a new warehouse space in Columbus Ohio. The questions below are just a starting point:
- What is the pace of your operations?
- Aside from storage, what other activities need space (e.g.. office, inspection station, docking)?
- What will staffing size look like?
- Are there any physical obstacles you need to consider, such as doors, walls, and clearances?
- What kind of conveyor or sorting system will you have in place?
- What equipment will be needed in your new space?
This is just the tip of the iceberg. It is suggested that you bring in someone who is extremely organized and knowledgeable of warehouse workflow and processes.
Examine storage methods.
There are a number of ways to place your inventory within your new warehouse space in Columbus Ohio, so make sure you choose the method that is right for your business.
If you’re new to warehousing and storage, you’re probably familiar with a mix of bulk storage and pallet racks; however, different methods have been implemented over the years to increase storage capacity. For instance, storage can be created across aisles, over work areas, or above docks.
Storage organization really comes down to your business process. As such, be clear about your overall business plan when implementing your storage capabilities. You may want to consider hiring a professional organizer that is experienced in organizing inventory and warehouse spaces.
Create a detailed plan.
Planning can be tedious, but it is critical to the long-term organization of your warehouse. Do not take this process lightly.
The plan should include tasks and milestones, colleagues involved, resources needed, and time needed to execute each deliverable. Be as detailed as possible. The more information is written down, the better off you’ll be. This plan needs to be specific in order to ensure an organized practice for the future.
Hire a Commercial Real Estate Firm
As mentioned previously, warehouse or industrial space is becoming hard to find. Don’t leave your search up to luck. Hire the best team to discover your next warehouse. With close to 80 years in the Central Ohio commercial real estate market, we know how to find your company the perfect warehouse space in Columbus Ohio and throughout Central Ohio. Contact one of our CRE brokers today at 614-221-4286.