A lot of small business owners rent their business space. Sometimes it’s because the space they want is not available for purchase. But more often, it’s because they either haven’t considered purchasing space, or they don’t think they would qualify to buy the type of space they really want. Some of the The Villalba Team’s favorite transactions involve helping people invest in real estate to grow their business instead of continuing to rent.
Enrique, a small business owner in Kent, wanted to learn how he could stop paying rent for his business. After discussing different options, a lot of which Enrique didn't think he could manage to do, he decided that the best choice for him would be to sell his house and buy a bigger home on a larger piece of property with zoning that would allow him to build his own shop.
“It was an interesting transaction because we had to list and sell his house in order to use that money towards the new property,” said agent Andres Villalba. “Negotiating with the seller of his new house was key as we had to ensure all parties involved understood and were clear on what was going at all times.”
The search process was a little challenging because the new property had to be zoned for both residential and business, which would allow him to build his dream shop. After working with the city on issues like boundary lines, septic buffer zones, and more… the project was approved and he built his new business shop.
Not only did Andres have to ensure that his client loved his new property, but his daughter had to love it too.
“Enrique’s daughter kept telling me to make sure the new house had a big yard with a swing set,” Andres said. “And guess what? It sure does!”
Everett business owners Jose Luis and Elia had been renting office and warehouse space for the past 15 years. A friend referred them to the Villalba Realty team so they could explore the option of purchasing instead of continuing to rent. They were looking for a building they could use as office space as well as warehouse for storage.
“We were able to set a plan in place with a budget of what it would take to make their dream come true. Being able to share my experience in construction was an added bonus for this transaction,” Andres said. “The most memorable thing about this transaction was seeing them recently in their own building, which they just finished remodeling into their dream space. It exceeded their expectations as far as functionality goes and it also set them up to be able to grow their company.”
Invest in your business by investing in real estate. Whether you need more space to expand, a second (or third or fourth!) location or are just tired of renting… The Villalba Team can help you explore your options and get into a space that’s right for your business!
Contact us today to get started!