If you need space to store your inventory or you ship or receive products, you probably need a large space to operate efficiently. Whether your business is expanding or you are starting fresh, you need to look for warehouse space for rent.
Choose the Right Industrial Place
When considering a warehouse for lease, keep in mind there are different types of commercial properties that may fit the bill. Your options include manufacturing space, warehouses, and flex space, which typically combines both manufacturing and warehouse-use. To determine which place is the best, consider your operational needs.
Manufacturing property is a place where you assemble materials or build products. If this fits your business, make sure you look for a space that has what you require, which may be a certain height, reinforced floors, or power sources for high-volume production.
If you mainly need the space for inventory storage and distribution, a warehouse is the better choice. You may need packaging and labeling equipment so you can ship your products.
If your business consists of both creating and distributing products, a flex space, also known as a mixed-use property, is a good choice. Make sure you choose the best option for your needs so you do not have to move in the future.
Find the Right Commercial Property
Once you understand what you need the property for, you can start searching for the perfect place. There are many properties listed online, and that may be a good place to start looking to get an idea of what you like. However, once you begin to narrow down the options, hiring a commercial realtor is a smart thing to do because he or she understands the details and can do much of the legwork for you.
Before you start to seriously look for a place, sit down and make a list of your requirements. Some considerations include:
- Location – you may want to be close to suppliers, clients, or the airport
- Monthly rent – this can help narrow down the places you can afford
- Future space needs – estimate for three to five years down the road, as this is how long a lease typically is, and you want to prepare for growth
- Specific features – this may be a certain clear height, office space, power supplies, loading docks, or outside space
Once you write down details of what you need and want, the realtor will have an easier time finding the place that suits what you are looking for.
Make Sure You Tour Each Potential Warehouse
You may think you found the perfect place online, but looks can be deceiving. Being able to see each option in person will let you get a true feel of the space. Compare each one you see as to its square footage, the lease price, duration of the lease, and costs that you as a tenant are responsible for. Also, look closely to see which place meets your needs the best.
Understand Commercial Lease Terms
If this is your first time leasing commercial property, make sure you understand some common terms. With a net lease, you pay a base monthly rent as well as a share of other building expenses such as insurance, property tax, and maintenance. With a gross lease, you pay a higher rent that covers all the extra expenses. This option is a bit easier because you have a single payment that does not change. A net lease is sometimes less money, but it varies from month to month, so it is harder to budget.
Once you have a contract in hand, it is a good idea to meet with a commercial realty attorney and go over all the terms. This ensures your interests are protected and you are not signing anything you do not understand.
Find the Perfect Property Today
Take the stress out of finding the warehouse and industrial space. Contact Royal Commercial Real Estate for information about how they can help. As a full-service agency, they can answer all your questions and help you every step along the way.