Industrial and warehouse space can range from storage, distribution to manufacturing. The industrial space which you want to lease will have its obligations and requirements hence it’s essential to understand them well.
Also, you can ask the owner or the agent many questions regarding the warehouse to make sure that you get the space which you need. Below are tips to help you when looking for a warehouse for lease Brooklyn.
- Identifying your needs
The first and the most important tip is identifying your needs before leasing a warehouse. Also how much money you need to spend to get that space which you want. Knowing what you want will help you from getting a space which you can’t afford or one which will be too big or too small to be utilized well.
When looking for a warehouse, you should also consider your future needs. Lease a warehouse which is slightly bigger to cater for all your needs in case you think of expanding your business soon.
- Square footage
Different landlords use different ways to calculate the square footage. Make sure that you are aware of how they are calculating and what is included in the calculations. Knowing the things included in the calculation will help you in understanding the amount of square foot that you are supposed to pay for. You would not want to end up paying for space that you are not using.
- Watch the market
You should first watch the market before leasing a warehouse space not unless you are in a hurry to rent the warehouse. The value can quickly fluctuate depending with factors such as external demand and time of the year. But don’t forego a good deal if you get that chance.
Usually, the demand for storage space mostly appreciates. As of now the demand for storage space has a yearly growth rate of 7%. If you happen to delay and wait for long, you will miss out on some great opportunities.
Location is paramount when leasing a warehouse. Location can affect the value of the warehouse and also have an impact on the shipping costs, distribution and the people whom you have to get in contact and deal with as neighbours or customers in the business.
- Electrical power
Make sure that the warehouse space you are leasing has enough electrical power. If both you and the landlords don’t know what’s needed, you can hire an electrical engineer to come and evaluate the building. The building should have enough power so that you won’t overwork or underwork the transformers.
- Maintenance of the property
Ensure that you are aware of the responsibilities of the landlord, what he is supposed to take care of and also the things which you are supposed to take care of.
The above tips are just but a few of the things you should consider before signing a warehouse lease. Don’t hesitate to ask the landlords questions if you don’t understand some of the obligations and requirements needed to lease the warehouse space.