Finding and leasing industrial warehouse space is a big step for any business, and should be treated as a serious decision. There’s a bit more to it than simply picking a space and setting up shop, though. Similar to purchasing or renting a house, leasing commercial warehouse space requires a decent amount of research before a final decision can be made. In all likelihood, once you find a warehouse space for rent, you’ll be there for many years to come.
So to make the process a little easier on you, here’s a short guide to leasing industrial warehouse space.
Determine How Much Space You Need, Then Add 15 to 25%
Determining warehouse space needs is an important first step in the process. Before you can look at any spaces, or even conduct research, you need to be able to determine exactly how much space you need. On top of that, you’ll want to give yourself some extra room to expand in the coming years.
If you can determine what kind of property you need and then estimate how much your business will grow in the next few years, you should have an accurate idea of the kinds of spaces your should be researching.
Locate the Right Property
Before leasing commercial property, it’s important to research different spaces. With the type of property and space requirements figured out, you shouldn’t have much of an issue finding several properties that could potentially be a good fit. Thanks to online property databases, the search process has become much easier. In fact, the amount of occupied warehouse space has increased just over 86% in the last 16 years.
Choose the Right Neighborhood, Then Conduct a Site Visit
Visiting the properties you’ve chosen is probably the most important step in the entire process. Without visiting, you won’t know what kind of space and community you’re dealing with, which is a big issue. Approximately 167,900 professionals work in the storage and warehouse leasing industry, and every one of them will stress the importance of looking at multiple spaces. You may find a property with the perfect amount of space inside, but realize it’s in a bad neighborhood when you visit. If you don’t have any backups, you can kiss those great commercial leases goodbye.
The demand for storage and warehouse space increases annually by about 7%, which means it’s more important now than ever to stick to this process like glue. Building a business takes a lot of hard work, but with the right research and patience, your warehouse space can help your business succeed.