Southcreek News

10 Commercial Real Estate Kansas City Loan Mistakes Part II

If your business needs a loan to help cover the cost of your office space lease in Overland Park, you will want to avoid some of these common mistakes that businesses make when applying for commercial real estate loans:

Failing to review your balance sheet. Before you take out a loan, be sure to review your balance sheet and analyze your liabilities and cash flow to confirm that you will still have enough funds to run your property properly while you are paying off the loan.
Not negotiating the best deal. In order to make sure that your business gets the best deal, you will want to make sure that you have a competent real estate attorney to help you with the fine print of a commercial real estate loan offer.
Opting for a familiar lender. While it is good to establish a rapport with a lender, especially when you need a loan, you should first check out some of the other possibilities, since new real estate products are constantly being offered.
Not looking into an SBA loan. It might be a good idea to first check with the Small Business Administration to see if they can help you obtain any loans or find out what advice they might have to offer.
Not being organized. Make sure that you have ready any necessary documents that a lender will expect to see, and be ready to show why the rental of the property makes fiscal sense.

Doing your homework before applying for a loan could save you from pitfalls like these!

To find out more about office suites for rent in Overland Park, give us a call at 913-685-4100!

10 Commercial Real Estate Kansas City Loan Mistakes

Often securing a loan is part of renting Kansas City office space, especially in the start-up phase of a business or in the case of expansion or other projects. Here are a few common mistakes that businesses make while applying for a loan to be aware of as you try to procure your own loan:

Not doing enough research. Make sure that you put in the time to review commercial loan terms from multiple different banks and commercial lenders.
Not finding the best lawyer. A lot of times it can be tempting to choose a family member or a friend who happens to be an attorney to help you with this process, but you will want to hire a commercial real estate attorney—someone who has experience in negotiating the types of real estate loans you need.
Failing to have a clear plan for the money. It is important to lenders that you have a definite plan in place for how you intend to use the money, as well as a timeframe in which you plan to complete any projects.
Failing to present a business plan. It is to your advantage when you are applying for a loan to be able to show lenders a well-structured business plan that lays out all of your financial and operating data and shows the general trajectory of your business.
Not investing your own money. It is a good idea to have your own available cash on hand when applying for a commercial real estate loan, because commercial lenders want to see that you are willing and able to cover a percentage of the cost with your own investment.

Being aware of these steps could give you a better chance at procuring a loan!

If you are interested in office rental space in Kansas City, give us a call at 913-685-4100!

Silver Dollar City Discount Through Southcreek Office Park

Take a little Christmas vacation to Silver Dollar City’s Old Time Christmas using your Southcreek Office Park discount! From November 3rd – December 30th you can enjoy a wonderland filled with over 4 million lights! Check out Christmas on Main Street, a light and sound extravaganza featuring The Gifts of Christmas Holiday Light Parade and a beautiful 5-story Special Effects Christmas Tree. Take the family to see shows like The Living Nativity and Frosty, Frontier Fa-La-La Follies, as well as the dramatic and acclaimed A Dickens’ Christmas Carol and a new adaptation of the classic Christmas story It’s A Wonderful Life. Enjoy delicious holiday treats, shop for the perfect gifts, and check out all of the fun family rides.

Here is some more information about how to get your Southcreek discount tickets:

Silver Dollar City 1-Day Consignment Ticket:
Adult = $54.81
Child = $44.06 (Ages 4-11)

To Purchase:
1.   Go to www.sdcticketoffers.com.
2.   Click then print the “Additional Area Discounts” and “Print at Home Instructions.”
3.   Click “Purchase Tickets” and enter the Corporate Promo Code: 13810.
4.   Click submit and receive the discounted rate!

If you have any questions, contact Chris at 913-685-4100.

Looking for some commercial realty in Overland Park? Give us a call at 913-685-4100 to learn about Southcreek’s available office rental space in Kansas City!

Southcreek Office Park Special at My Massage Bliss

A discounted massage could be the perfect holiday gift for someone you know, or it could be the perfect break for you from the stress of getting ready for the holidays! My Massage Bliss is offering several specials to Southcreek tenants this holiday season. Here is some more information about the specials that are currently available:

Introductory 60 Minute Massage $39 (Normally $49) *limit one per guest
Returning Guest 60 Minute Massage $55 (30% savings off of regular price $79)
Club Bliss Members 60 Minute Massage $53 (10% savings off regular price of $59)
Introductory 90 Minute Massage $64 (Normally $74) *limit one per guest
Returning Guest 90 Minute Massage $83 (30% savings off of regular price $119)
Club Bliss Members 90 Minute Massage $80 (10% savings off regular price of $89)

My Massage Bliss believes in the following customer service principles:

Whether you are getting a 60 or 90 minute massage, you should receive that time hands on.
You should not have to pay for the preparation time for the next appointment.
One price includes everything—no additional charges.
My Massage Bliss is here to serve and help you “Discover Your Bliss.”

My Massage Bliss is located at 14221 Metcalf Ste 175 Overland Park, KS 66223. You can contact them for more information at 913-956-5100 or www.mymassagebliss.net. Ask about the gift certificates that are available if you are looking for a holiday gift!

If you are looking for commercial rental property in Overland Park, give us a call at 913-685-4100 to learn more about our commercial space for rent in Overland Park!

Chase Suite Hotel Deals near Southcreek Overland Park

Whether you need a place for friends and family to stay during the holidays or you want a cozy getaway for a night, the Chase Suite Hotel has holiday deals available for you! Here is some more information on the three different specials the hotel is offering this year:

Home for the Holidays: A perfect package if you are looking for a home for visiting family members or friends this year!

Offer valid Nov. 16-25th 2012; Dec. 21-30th 2012; and Jan. 1-6th 2013
Promotion Code: HLDYS
$69 per night for a Studio Queen Suite or $89 per night for Two Bedroom/Two Bath Suites

Light My Fire Package: Enjoy a night by the fire with the one you love! The package includes a 1 night stay for two, rose petals, a fire log, and massage oil.

Offer valid: Nov. 1st 2012 – Feb. 28th 2013
Promotion Code: LIGHT
$129 per night for Studio Queen Suite

New Year’s Eve Package: Celebrate your New Year’s Eve in style with a 1 night stay for two, which includes a fire log, champagne, party favors, and chocolate strawberries!

Package available on 12/31/12
Promotion Code: NYE13
$139 per night for Studio Queen Sweet

All rates are based on availability and include a hot breakfast, Wifi, and access to a fitness center and parking! Call 913-981-0144 for more information, or check out the ad in What’s Up at the Creek!

Want to start the new year in a new commercial space for rent in Overland Park? Give one of our commercial realtors in Overland Park a call at 913-685-4100 for more information about our available spaces!

Executive Office Overland Park Rental Tips

Thinking about leasing executive suites in Overland Park? Here are a few tips to keep in mind as you negotiate a lease:

Limit Rent Increases based on the CPI
Sometimes a landlord will insist on yearly rent increases corresponding with the percentage increases of the CPI—Consumer Price Index. If you run into this request, you can try to do two things. If possible, try to negotiate so that the increase does not start for at least two years. Also, see if you can determine a cap on the amount of each annual increase (i.e. no more than a 3% increase in any year).

Get a Broad Permitted Use Clause
If your landlord insists on a permitted use clause, at least try to make it as broad as possible, regardless of how broad your intended purpose is at the time. In the event that your business grows and changes, you will want that flexibility to be able to use your rental space in any legal, reasonable manner.

Don’t Let Your Lease Limit Improvements
Typically, standard leases state that tenants can only make improvements or alterations with the landlord’s consent. These provisions are usually too restrictive, so you should try to negotiate some changes. For instance, you might try to obtain the right to make changes costing less than $2500 or non-structural changes without having to get your landlord’s consent.

If you would like to learn more about leasing executive suites in Kansas City, phone one of our commercial real estate brokers at 913-685-4100!

Overland Park Office Space for Rent Leasing Tips

Lease negotiations can be an arduous process for small businesses leasing Overland Park office space for the first time. Here are a few tips to keep in mind as your business looks into leases:

Watch Out for Assignment Clauses
Be wary of an assignment clause in a lease that states that a change in more than 50% of the stock ownership of the company is prohibited without the approval of the landlord, because this could result in the accident termination of a good lease. If your company grows and gains more investors, you could inadvertently trigger this clause.

Try to Avoid Personal Lease Guarantees
Sometimes landlords want a personal guarantee from the founders of the business if the potential tenant is a corporation or other entity. If possible, avoid this clause, because it could put both your personal and business assets at risk.

Negotiate the Best Possible Lease Relocation Clause
A relocation clause allows the landlord to move a tenant to another space within the building or complex if a larger tenant needs the space. Your company probably will not be able to get this clause removed from the lease, but you could try to negotiate it as much in your favor as possible by requesting three contingencies. First, ask for the same rent, office structure, views, quality of furnishings, etc. in the new space. Second, make sure the clause says that the landlord is responsible for any moving or renovation costs associated with the relocation. Third, insist on at least a month’s notice for relocation.

Being aware of these little parts of leases can help your business avoid any lease surprises down the line.

If you want to find out more about executive suites in Kansas City, give one of our commercial real estate brokers a call at 913-685-4100!