Finding a business park space for lease is an important part of the real estate process and can eventually affect the success of your venture. No wonder you should always carry this decision with the deserved magnitude to avoid leaving the door for mistakes open.
You want to maximize your benefits when leasing business park space, and it is best done when you get your decision right from the word go. Here are some guidelines to ensure you choose the right business park space for lease.
Location and Accessibility
The location of the business park space for lease is one of the most important factors to consider. Take it upon yourself to find a space that’s easily accessible for your clients and staff. In this regard, it is essential that you look for properties near major roadways. It is important that you think about the employee commute length and local traffic patterns.
Different business types tend to have varying requirements when it comes to the ideal location. If running a retail space, it would be better to go for a space with high foot traffic, so proximity to light rails and bust stops will come in handy.
It is always important that you prioritize the operating expenses of the commercial property before the business park space for lease agreement. These potential costs include utilities, janitorial service, taxes, and maintenance fees. If working with a broker who fully understands what comparable buildings typically charge, then they can help you determine how a particular space will eventually affect your bottom line.
Last but definitely not least; you need to determine your budget and desired lease ahead of time. When evaluating different properties, be sure to find out if the rent rate is net or gross. In a net business park space for lease agreement, the tenant is liable for paying for parking, utilities and other fees separate from the base rent.
Things tend to be different with gross leases as they include these expenses in your monthly rent. Your broker will negotiate this business park space for lease terms on your behalf, including rent reductions, tenant improvements and rent-free periods.
We hope that the above tips can help ensure you choose the best business park space for lease without necessary taking a toll on your set budget.