Thinking about investing in industrial leasing? Know these key terms first:
Industrial Gross Lease
Used for multi-tenant warehouses and flex space, gross leases typically include base rent, insurance, real estate taxes and CAM (Common Area Maintenance).
Under an industrial gross lease, the landlord pays base year property taxes, building insurance, exterior roof, and structure.
Think about how your business may expand in order to avoid relocating to a larger space. You should also consider redeveloped properties if you want amenities without added expenses.
Calculate costs for utilities, moving expenses, equipment fit-up, and plan for rising construction costs during the time between when you estimate the cost and when construction actually begins.
Hire a Real Estate Broker
A broker can assess your needs and come up with the best industrial spaces to lease, saving you time and money.
Manage Vacant Buildings
Take the time to improve vacant buildings by upgrading lighting, paint warehouse walls, and make cosmetic office improvements. Vacancy is often your biggest enemy.
Navigating a Tight Market
You must be creative, thorough, and efficient when faced with a tight market. This involves educating your client and going outside your normal range. You need the ability to be flexible to changes.
To combat low market demand, and avoid an excess of vacancies, brokers need to adjust their market. You must differentiate your area from others. Transportation, distribution, and logistics are fundamental economic development projects.
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