Are you thinking about leasing a commercial or industrial property? Companies lease space all the time, but there are some things to keep in mind so you understand your options. At Ullian Realty in Brevard County, Florida we have helped many clients clarify leasing details of commercial or industrial properties before signing a long-term lease. Here are four things to consider about the leasing basics of commercial or industrial property.
What are Basic Commercial or Industrial Leasing Options?
Along with different floor plans, zoning uses, and building infrastructure, come leasing options. Generally, the two main types of leases are net leases or gross leases. A net lease is a lower base rent and is what a Landlord keeps in their pocket, thus a net lease does not include real estate taxes, building insurance, and common area maintenance expenses (NNN/CAM) that are paid as additional rent by the tenant based on their square footage leased and actual costs. A net lease provides less risk to a landlord.
A gross lease is a larger amount per month, but it includes the NNN/CAM expenses mentioned above included in the lease rent payment. This type of lease is often easier to budget and common if there are many tenants within a building and provides less risk to a tenant because they have one rent amount to pay. Depending on how you intend to utilize your commercial space you may find one leasing option preferable over the other.
How Much Space Will Your Office Require?
The first step in commercial property or industrial property leasing basics, is to determine how much space you need. What direction do you envision your business going based on your business plan? Leasing a location or moving into a new space can be expensive and time-consuming. Make a list of pros and cons of your current space to determine what is most important. Do you plan on hiring more employees or offering a new product or service? Take all of this into consideration when figuring out how much space your commercial business needs. Thus a space analysis should be defined with Ullian Realty assistance to determine your requirements.
Have You Estimated Your Business Costs?
What is your budget for a commercial lease? You need to calculate the cost of utilities, equipment fit up, moving expenses, and other normal costs that come with running a business. A real estate team can help you assess your needs and determine an average monthly lease based on variables that are common with businesses.
Yes, You Should Hire A Real Estate Broker
You have a business to run, so hiring a real estate broker who understands what’s currently on the market will save you time and money. A real estate broker can assess your needs and come up with creative options to find the perfect commercial or industrial space to lease. The ideal space for rent can move quickly, so hiring a real estate team will prevent you from missing out on a commercial or industrial rental.
Looking to lease commercial or industrial real estate on Florida’s Space Coast? Ullian Realty has over 50 years of combined experience working with clients locally. We understand that every business has unique requirements to thrive and work diligently with all our clients to find the best solutions. Contact us to schedule an appointment to learn more.