Tips for relocating your Calgary business during the economic downturn

If you're a business owner looking for new digs, now might be the best time to move downtown.

That's according to Grant Kosowan, the president of Orange Group Commercial Real Estate.

He stopped by theCalgary EyeopenerTuesday morning to share some tips on how Calgary businesses can make the best of this economic downturn.

Take advantage of the vacancy rate

Downtown office vacancies are high at the moment, which presents a good opportunity for those looking to move into some of those spaces, said Kosowan.

If your business is located in "suburbia," it might be time to look into heading downtown, he said.

Look early and look often

Whether you're looking to renew a lease or enter a new one, it's a good idea to know what your options are ahead of time.

"In today's commercial real estate market in Alberta, there are plenty of options," Kosowan said, advising tenants not to wait until the end of their current term to consider their options.

"See what the market looks like and start building some information," he said.

Do your homework

Plan for the future, Kosowan said. Consider everything from how much space you're currently taking up, to whether or not your air conditioning unit works.

"Take a look at what your options are in the marketplace," Kosowan said. "Commercial real estate is highly inefficient. There isn't a central database ... so obtaining that information is a bit more challenging."

For more tips, watch the video at the top of this story.

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With files from the Calgary Eyeopener