Leasing industrial space rather than purchasing a building or funding a construction project can be a smart move for your company, especially if you are uncertain that you will remain in the same location for the long term. To ensure that you select the right space to lease, follow these tips:
1. Think in Three Dimensions
When you are renting an office space, you normally only consider the square footage of units to ensure that you have enough room for your team. For industrial space, it is important to think beyond the lengths and widths of the rooms. Pay attention to the cubic square footage, which includes the ceiling height as well. You will need to ensure that the ceilings of the spaces you're considering are tall enough to accommodate machinery and equipment.
2. Consider Logistics
Before signing a lease, be sure to think about what types of materials will be going in and out of your industrial space. What types of trucks are used to transport them and is there enough room for them to maneuver around the building? You should also evaluate the loading dock area to determine how easily you will be able to move materials in and out of the facility.
3. Put Safety First
Workplace safety is always a top priority, but it is especially important in industrial facilities. Be sure that the space you are renting complies with all federal and state safety standards for your particular line of business. In addition, you should double check that the fire suppression and ventilation systems are up to code and in good repair. Security is another important consideration. What types of systems are in place to protect your team and your property?
4. Don't Forget Compliance
Many communities have strict rules regarding what types of industrial operations can be conducted in various parts of their borders. Before signing the lease, be sure that the area you are considering is properly zoned for your line of business to avoid major hassles and the risk of costly fines.
5. Imagine the Commute
How convenient will your new location be for your team? If you are considering a location in a remote area, you may want to conduct a survey to find out if your employees rely on public transportation that may not be easily accessible. Take the time to consider your team's parking needs. Will it be easy for an entire shift to arrive at the same time and find spaces? If you're looking at a spot in an industrial complex, will your company have designated spaces or a private lot? If not, plan to visit the shared parking lot at different times of the day to see how many spaces are available.
6. Know the Area
Research the location you are considering to find out if there are any major competitors located nearby. You should also familiarize yourself with the average rates that are being charged to rent spaces similar to the ones you are considering so that you'll have an edge when it comes time to negotiate the lease.
Here are a few other industrial articles to check out:
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