Leasing warehouse space may seem like a simple thing to do; however, leasing the right warehouses requires some serious forethought. In order for companies to get the most efficient and useable space for their money, they need to understand the lease details and know their actual needs. When partnering with experienced commercial real estate services to find the right warehouse space, companies should consider the following questions before signing on the dotted line.
Understand Warehouse Business Needs
Warehouse space can become a large expense for some companies. To get the most from every lease dollar, businesses searching for warehouses must consider their specific needs to simplify the search and know what warehouses best fit those needs :
- How Much Space is Needed - This figure is frequently miscalculated by many companies. To accurately calculate the total size and height need from their leased warehouse, businesses should enlist the help of commercial real estate services.
- How Will the Space Be Used - Depending on whether the space will be strictly used for storage or if work will be done there, needs like office space, employee amenities, and even HVAC and IT needs can change. Warehouses that will receive frequent deliveries must be able to accommodate the trucks bringing such shipments.
Consider Important Leasing Questions
Warehouse leases are basically the same as any other leases that commercial real estate services handle. After determining warehouse space needs, companies must then ask some important questions of prospective landlords of suitable warehouses for lease:
- Who Pays What - Always determine ahead of time who is responsible for paying for everything from tenant improvements to the utilities bill each month. Tenants should define whether there are any maintenance fees, who is responsible for maintaining the outside of the building, and who pays for repairs inside or outside of the building. Companies will also want to determine if there are any additional fees applied to the lease.
- What Is Included - Other than the warehouse space, tenants must determine what is included in the base rent and whether that covers usable space or if there is a common area factor to consider. Inquire as well about which utilities and internet companies services the location and whether the site can be accessed by large trucks making deliveries or picking up shipments.
- What Is Permitted - Beyond base rent inclusions, it is important for companies to confirm things like on-site parking, signage requirements, property zoning, and permitted use of the building and land. Determine if there are any restrictions in how the warehouse space can be used as well as whether they are the only tenant of if the space is shared between one or more tenants.
Even though warehouses may not be as complicated as office buildings, getting the right warehouse space takes a lot of research and getting answer to certain questions. Commercial real estate services that specialize in these types of spaces can help businesses find the warehouses they need.