As you start a business or expand your operation, you might need a bigger space for manufacturing or storing products and inventory. For this purpose, you may need industrial or warehouse space. Manufacturing buildings, warehouses, and multi-purpose spaces are examples of industrial properties. As you search for the right space for your operation, reputable agents, who specialize in industrial real estate, offer the following tips:
Determining your Industrial Space Needs
The type of business you are running determines the kind of property that suits the needs of your business. Every kind of industrial space serves a different purpose. Warehouses are used for storing and distributing products while a distribution center is used only for product distribution. The latter type is not part of the building or assembly process. Using a warehouse may require product packaging and labeling equipment in preparation for shipping.
Manufacturing space is where products are designed, built, and assembled. Depending on your manufacturing needs, such type of space may need to have special zoning or kinds of constructions like reinforced floors, a certain ceiling height, or high-volume power sources. A mixed-use property can be both a warehouse and manufacturing space where you can handle both warehouse and manufacturing needs in one place.
Finding the Best Property
These days, the availability of property databases online makes it easy to begin your search for industrial space from the comfort of your home or office. After you determine the kind of property you need, you can use these databases to compare properties that meet your criteria. When you start your search, consider your monthly rental budget, the amount of space you need, your preferred location, the features you are looking for. After determining your needs and getting a sense of the market, use your criteria list to connect with local real estate agents for industrial spaces. These agents will look for the right property that meets your requirements. Typically, the property owner or landlord will pay commissions in the industrial lease market, so the service of the professional may not cost you anything. Make sure to thoroughly describe your needs to the agents.
Visiting Industrial Properties
Make appointments to see the industrial spaces you are considering. A warehouse can look perfect on photos or online. But, checking it out in person will let you evaluate whether that space fits your needs. A good agent should be able to give recommendations or point out possible issues. They are also aware of any zoning problems. When visiting an industrial property, compare elements you see including square footage, unit lease price, lease term duration, extra costs and expenses, as well as the ability of the space to meet your business needs.
