REoptimizer^® Blog

Guest blog by Holly Welles. Holly is a real estate blogger interested in the ever-shifting landscape of the market. You can read more of her work on her own blog, The Estate Update, and follow her on Twitter @HollyAWelles.

With social media and online advertising quickly replacing conventional forms of marketing and the increasing globalization of industries, companies are already heavily reliant on technology as a part of their daily operations. Technological developments don't just impact how you brand your business and communicate with employees, vendors and customers. Today, technology is also reshaping commercial real estate and can have an impact on leasing. Here are five ways that tech is shaking up commercial real estate:

When you have multiple commercial leases in your portfolio, it can be difficult to track all the fine details. Compiling lease abstractions can provide your company with easy points of reference and make it easier to manage and evaluate your portfolio. Read on to learn more about these important commercial real estate documents.

In the 1990's, we started coming on line. In the 2000's, devices like the iPhone put the internet in our pockets, letting us stay connected anywhere and everywhere. The 2010s are the decade when the Internet crossed the barrier from people to things. Internet of Things technology -- usually referred to as the IoT -- allows devices to directly connect themselves to the network. While IoT has uses throughout industry, one of the areas where it is rapidly catching on is in office buildings. Whether you're looking to update an existing space or build a new one, this technology should be part of your plan.

When you sign a commercial lease for space for your retail business, you hate to think that you might end up having to vacate the building before your term has expired. Unfortunately, retail is an uncertain industry. You could find yourself in a financial situation where your only options are to shut your doors, making it important that you negotiate for a favorable Go Dark clause in your lease.

When your office lease comes up, you have an opportunity to find better space, a better deal or both. Even if you stay in the same place, you could still end up with more than you expect -- as long as you follow this checklist.

Commercial leases are lengthy documents and can be overwhelming to peruse; however, it's important that you carefully read over every section to ensure that you understand the agreement. Particularly, pay attention to these key clauses:

Occupying an office space or building that you have leased involves costs beyond basic rent. In order to budget properly and evaluate your real estate portfolio, you need to consider your total occupancy costs. Read on to learn more about occupancy costs and what you can do to reduce them.