Industrial Property Lease: Potential Costs

Whether you are looking for a warehouse facility, manufacturing space, or a showroom building, industrial spaces are in high demand in Maryland. Industrial rental rates have recently risen 20% or more over the past three years, making industrial spaces the fastest growing type of all commercial properties. Renting an industrial space is very challenging these days. If you are interested in leasing an industrial property in Maryland, here are some of the potential costs to consider.

HVAC Systems

Many industrial properties do not come equipped with full building HVAC systems, however you may likely lease a space where the previous owners have already installed a unit. The downside to this is that there is no way of knowing how well the previous tenant maintained the system. An experienced agent can help you negotiate this item.

Square Footage

Landlords don’t always calculate square footage the same exact way. Sometimes, they will incorporate the area below the drip line and others will start from the outside of the wall rather than the inside.  You can even go the extra mile and have a professional measure the space for you.  Ideally, you should understand the difference between the space you are using and the space you are paying for.

Operating Expenses

Triple net leases are a common type of commercial lease that puts the majority of the financial responsibility on the tenant. Other types of leases include net, modified gross, gross, and others.  Be sure to discuss how these expenses are associated with these different types of leases.

Loading Areas

Ideally, the industrial property lease that you choose should have the loading accommodations necessary for your business. However, if the property doesn’t include an adequate loading area, you will need to see if your landlord is willing to install what is needed.  If your industrial property requires a loading area, be sure to consider how it will affect the cost of the space.

Parking Areas

Just like loading areas, the size and features of your parking area will depend on the amount of vehicles coming to the property and their size. You should also consider if you need long term and overnight parking for vehicles.

Want to Find an Ideal Location for Your Growing Maryland Company?

Want to find an ideal location for your growing Maryland company? At NeedSpace Commercial, we fully represent the tenant looking to find the perfect commercial space.

Born from A. J. Properties, an Anne Arundel County based commercial real estate firm, NeedSpace Commercial is designed to focus solely on Tenant Representation services, ensuring that you find your perfect business space, avoid mistakes, and negotiate the best deal.

For more information, visit our website www.needspacecommercial.com. To contact us, give us a call at (410)-551-3278!