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Buyer Representation
January 2016

Locating Your Business is Vital, 

by Beverly Merchant

 

Most home buyers have a pretty clear idea of the area and often even the neighborhood where they want to live.  Deciding on a location for a business, however, is much more complicated.  The location of a store or office can be a crucial factor in the success of an enterprise, especially for retail stores and professional services. For a store, being visible to potential customers is essential and why retail tenants pay a premium for shopping center space.  If you're a dentist or doctor, the visibility is less important but convenient access is essential.  Some of the other qualities and factors to consider are described below.
 

1.      Physical requirements:

  • Amount of space and configuration-The advantage to commercial spaces is that they can usually be sliced and diced to the right size and floor plan. 
  • Type of building-Is an office tower with multiple tenants and a central lobby best or do you need a self-contained space with its own entrance? The downside of many office buildings is that they only operate during normal business hours.  The heating and AC are shut off during off hours and access to the building is restricted. You and your staff will have 24/7 access but not your clients.
  • Use restrictions-Zoning or the landlord may prohibit your use.  Some office buildings cap the amount of medical offices in a building, for example.
  • Power and other utilities-Does the property have the electrical and water needed for your business?  For example, some parts of Great Falls limit the amount of water used, so hair salons can't operate in those spaces. 
Beverly has spent more than 30 years in commercial real estate as a consultant and principal specializing in investment and financing across all real estate asset classes. As a McEnearney Commercial associate broker, she represents tenants seeking retail, office and industrial space, owner-occupants and investors as well as sellers and landlords.

Since 2004, Beverly has provided advisory services to real estate companies through Davies Real Estate Investment Services, LLC. Consulting clients include Atlantic Realty Companies, CIM Group 
and WREP, LLC. Prior to Davies REIS she was a commercial mortgage lender with MetLife Real Estate Investment's Washington office.  She also established and ran the acquisitions group for Guardian Realty and worked in the financial services group of Cushman & Wakefield in Florida.  She was instrumental in closing more than $750 million in transactions for properties ranging from mixed use development in Washington, DC to a 500-unit apartment complex in Columbia, MD. 

Beverly has an MBA from the University of Miami and is a graduate of the University of Maryland.  She is the past president of two Commercial Real Estate Women (CREW) chapters as well as a founding member of CREW Network.

Currently, Beverly is a licensed RE broker in Virginia, Maryland and DC. From 1991 to 2000, she was also a State Certified General Appraiser underwriting commercial properties.