Georgetown, Texas is booming, and with this growth comes exciting opportunities in commercial real estate. Whether you’re opening your first storefront, moving your office, or expanding your business, choosing the right space is a crucial decision. Leasing commercial property isn’t just about location, it’s about setting your business up for success. When it comes to commercial real estate in Georgetown, here’s what tenants to know before leasing.
Set Your Business Up for Success
Georgetown’s rapid growth brings a competitive real estate market. Its business districts, historic downtown area, and vibrant community events create an attractive environment for new or growing businesses. But don’t let the boom overwhelm you, leasing a commercial space is a big commitment, and the fine print matters. Before signing on the dotted line, make sure you understand these key factors that can impact your business for years to come.
Know Your Space Needs
Before starting your search, clearly define what you need from your space. How many employees will you have? Do you need conference rooms, warehouse storage, or customer-facing areas? Understanding your specific needs helps you avoid paying for unnecessary square footage or getting stuck in a space that can’t keep up with your growth.
Understand the Types of Leases
Commercial leases come in various forms, like full-service leases, triple net leases, and modified gross leases. Each has different structures for rent, utilities, and maintenance costs. Knowing the differences can help you budget accurately and avoid surprises down the road. When in doubt, ask for a detailed breakdown of what’s included.
Evaluate Location Carefully
In real estate, location is everything. In Georgetown specifically, proximity to major highways, downtown attractions, and residential areas can significantly affect foot traffic, client accessibility, and employee satisfaction. Think beyond the building itself and consider how the location will impact your day-to-day operations.
Check the Condition of the Property
Before signing, inspect the property thoroughly. Look for signs of wear, outdoor systems, or repairs needed. Clarify who is responsible for upgrades or maintenance. A well-maintained property signals a responsible landlord and can save you headaches (and money) later on.
Review Lease Terms and Renewal Options
Lease length, rent increases, renewal options, and exit clauses are critical details. Make sure you understand what happens when the lease ends, how often (and by how much) rent may increase, and what conditions allow you to break the lease early if needed. Flexibility can be crucial if your business grows or changes quickly.
Factor in Future Growth
Your business may not look the same in two or three years. Choose a space that can accommodate some growth or one that offers flexibility to upgrade to a larger unit if needed. Some properties provide scalable options that grow with your business.
Buying vs Renting Your Commercial Space
Thinking of buying commercial real estate instead of renting? Consider building equity when you purchase your commercial space and protect yourself from rental increases. When you own your space, you’ll secure an asset that will rise in value as Georgetown continues its upward trend. Most businesses can deduct mortgage interest, property taxes, and certain operating expenses for more tax-saving benefits over renting. The current asking rent in the retail sector of Georgetown is around $31 per square foot, making buying an attractive option for some business owners.
Consider Purchasing with Workspace USA
At Workspace USA, we know that buying commercial real estate is a big step and we’re here to make it easier. Our team specializes in Georgetown’s growing market and can help you find the workspace to match your current needs and future goals. Whether you’re looking for a sleek storefront or a multi-purpose flex space, Workspace USA has what you need to excel in Georgetown, TX. View our available locations, or contact us to discuss your business’s needs.