- More and more sites make it very easy to search for commercial property for lease or sale.
- Don't forget about old-fashioned print. Daily newspapers and weekly business publications, as well as the Wall Street Journal, continue to list commercial properties.
- Consider hiring a commercial real estate broker. These professionals know the market and have access to subscription-only commercial property listings on CoStar.
Action Steps
The best contacts and resources to help you get it done
Check sites specializing in commercial property listings
LoopNet site offers photos, prices, square footage and even capitalization rates for a variety of property types throughout the country. Bizspace, run by the American City Business Journals chain, includes information on property in 16 markets throughout the country. Black's Guide started as a print guide to commercial property listings and now offers listings online.I recommend: On LoopNet, you'll be asked to register, and you can choose between a free basic service and more complete access for a fee. Bizspace offers a guide to brokers in addition to listings. Black's Guide requires free registration.
Hire a commercial real estate broker
If you need nothing more than a simple warehouse bay, you probably can handle the search yourself. If your requirements are more complicated, use a commercial real estate broker.I recommend: Ask other entrepreneurs for names of good brokers. Your broker will have access to CoStar, which is considered the gold standard of commercial property listings services.
Surf broker sites
Major commercial brokerages make it easy to search their listings, although you'll see only the properties they're trying to sell.I recommend: Big players include CB Richard Ellis, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Marcus & Millichap and NAI Global. All post their property listings online.
Look off the beaten path
Auction sites, auctioneers and even Craigslist offer properties for sale.I recommend: Check eBay's commercial listings and surf Craigslist for your town. Also try old-line auctioneers such as Sheldon Good & Co.
Avoid infoglut with specialized searching
Searching for general terms like "real estate" or even "commercial real estate" or "commercial property listings" can return more results than you know what to do with.I recommend: Focus on exactly what you're looking for, whether it's retail property listings or real estate brokerage firms or commercial real estate loans.
Tips & Tactics
Helpful advice for making the most of this Guide
- If you hire a broker, choose one who's experienced with your property type and your geographic area.
- Expect some overlap and some gaps as you search listings online.
- Be flexible about property types. If you're a heavy manufacturer, your choices are limited. But if you're running a call center, you could occupy so-called office/warehouse space, which often is categorized as industrial space, or even an empty storefront.
the Commercial Real Estate page at Business.com
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