Broker Banter – Questions & Answers (The Portland Chapter)
We’re the first to admit we don’t always have all the answers when it comes to the fine details of leasing and all the questions that come with it. That’s when we turn to our commercial comrades to aid with the broadening of our knowledge base. This week we’ve gone straight to the source to speak with Portland, OR broker Kristi Ricker.
We connected with Kristi to talk shop, and in fact, where to set up shop.
OfficeSpace: What do you think is the most important question a tenant should be asking, that they never seem to ask when looking for space?
Kristi: Zoning, tenants need to learn more out about zoning. There are so many issues in this area and if you’re not aware of this in the beginning it could hurt your chances of securing your ideal space. It’s something you should ask your broker about as they’ll be able to determine how to move forward in narrowing down your search. It’s just not something that’s on the top of your mind when you’re looking for a space and it definitely should be.
OfficeSpace: What is the best tip in negotiating a lease you think all tenants should consider?
Kristi: The longer the lease, the better you’re going to be able to negotiate, especially if you are going to need anything done to your space. People are nervous with the idea of securing a 5 year lease, they think “What if something happens?” – but they can always put a clause in allowing them to sublease (A lease of a property by a tenant to a subtenant.).
OfficeSpace: What do tenants focus on, that perhaps they shouldn’t when searching for space?
Kristi: Recently, I’ve had clients who have looked at a space and were concerned the buildings around it were being worked on or unfinished. Unfortunately, this doesn’t always paint a pretty picture of the neighborhood, especially when it’s an up and coming urban area. I recommend looking at the bigger finished picture and inquiring about what’s being developed in the area.
OfficeSpace: What area of town would you recommend to a Start-Up in Portland?
Kristi: The inner Southeast, Northeast and North Portland are very hot right now. They were predominantly industrial areas and now they’ve turned into these very creative pockets with great opportunities for startups, restaurants, retail and more.
OfficeSpace: What are you starting to see more of in Portland?
Kristi: Tons of startups, restaurants, breweries, delis – there’s a great food scene here.
OfficeSpace: And lastly, what makes Portland great?
Kristi: Portland‘s so diverse, we have a little bit of everything for everyone. Everything goes here – that’s what I love about it. I see all these new ideas here and they seem to work. If you have a crazy, fun new idea, there’s a great support network for that here. It just seems out of the ordinary things work here more than other places. Nothing is guaranteed but your chances of making it a go seems to have better odds in Portland.
Kristi has over 15 years of real estate experience in the greater Portland area and has recently started her own company.
Need Office, Retail or Industrial Space in Portland? Visit us here – OfficeSpace.com/Portland