As you start with a new business and expand for the operation, there can be a need for a larger space than needed to manufacture or store the products or more people to discuss on a certain project. Warehouses, manufacturing buildings, multi-use spaces can be used for larger activities. These spaces are mainly used for the storage of products, storage fulfilments, and further distribution.
Here are some following tips on how to go about looking for more industrial space, including how you can make the best use of the space and the basic needs of the empty industrial commercial lease.
Determine the commercial space and the needs
The nature of the business is dependent on the type of property that fits well your business needs. The industrial property generally goes under one of the three different sets
– Warehouse spaces
– Industrial spaces
– Flex a space or an empty property
There are many types of industrial space and each type of industrial space serves a different purpose. The main purpose of the warehouse is used for the store and distribution of products. The distribution center would come under a warehouse that is used for the distribution of the products, but if your business is not distribution-based then you can use it for big projects and discussions. Using a warehouse may require proper packaging and product labeling to prepare for distribution or further business.
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A manufacturing space other than product distribution can be used for other activities like can be used for huge discussions and meetings, different sources like presentations, client meetings, documentation, etc.
A flex space or a mixed-use property is a combination of warehouse spaces and manufacturing space that can be used for handling the manufacturing and other needs all in one place.
The right commercial industrial space
The online property databases can make it easy for commercial and warehouse searches for the comfort of the home and office space. Once you have researched what type of property would fit in well for your business and you can use the database to compare the properties searched to meet the specific criteria.
When you start your research you decide on:
– The monthly budget
– The space you need
– Where you are looking for a location for example empty offices, loading docks, ceiling height, etc.
Once you have researched online to identify the needs of a specific want to get a sense of the market, make use to connect on the commercial real estate professional space. Commissions are equally been paid by the landlord and the owner in the commercial lease market so that it doesn’t cost you much and it is affordable for you as a tenant.
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Visit the commercial space
After all the research, make an appointment to see the empty commercial space in-person to see the space. Space may look perfect in pictures online but you will have to walk through each property which you will be able to access whether it meets your needs. You should put your demand about the space to the real estate agent, you may be able to make recommendations on the properties according to the client.
When you keep yourself organized, the expert will keep your potential on the research on the commercial space. One way to create a spreadsheet with the detail on each space you have. Use the following category to compare the elements for the properties to include:
– Compare lease price
– Additional cost and expense
– Time of the lease term
– Property meets your needs
If you find an empty commercial space that doesn’t match your needs, you can ask your real estate agent about researching the space. There can be a point wherein there won’t be an option but it is worth asking to find a place but it would be quite right.
You can ask certain questions to the agent like:
– Whether it has enough energy lighting but can save a lot of money
– What preventions have been taken in the space
– Is there any parking available
– Is there enough clearance
– Can the space be fitted well according to your needs
If you have found a perfect space according to your need, keep searching for the space. But the important question would be don’t you want to book the perfect space once you get it? The answer to that would be “No”
Why? Because there are two to three commercial properties that would work, it is not a compulsion to the idea to like the first space. With this idea, you can consider which one is best for you and the business. If you have a few properties to consider, you will have an upper hand when it comes to negotiating the terms because you won’t have to be desperate to close the deal.
Expert recommends you searching the three properties that meet your needs. And with that, you should consider making the offers and comparing the lease terms.