There are many instances in life in which knowing all you can before you begin dramatically improves your chances for success. The industrial real estate lease process is one of them. Going into the experience with the right data and the right information ahead of time can save you frustration, time, and money down the line. The key is in doing your homework upfront, and being very clear about what matters – and what doesn’t. To that end, here are two tips from Miller Industrial Properties to help you improve the industrial lease process experience and boost your odds of a successful transaction.
Partnering with the right industrial real estate firm is a major decision, and it’s not an overstatement to say it could make or break your deal. You’ll likely have no shortage of options when it comes to compiling a short list, and your best bet is to find a company with a reputable, proven track record for closing transactions just like the one you’re pursuing. We’ve written before about the best way to find the right agent, so take a few minutes to scan these posts for guidance:
- What’s the Best Way to Pick a Commercial Real Estate Agent in a New State?
- Leasing Industrial Property? Ask your Agent Three Critical Questions
- The Key to Finding the Right Industrial Agent
- Three Mistakes to Avoid when Choosing an Industrial Real Estate Agent
- Will my Lease Rates Go Up If I Use an Industrial Real Estate Agent?
While your carefully-chosen agent will provide direction and guidance, it’s still important that you develop at least a passing familiarity with industrial leases. Fortunately, Miller Industrial Properties made it easy to do just that. We developed a 13-step guide that outlines every part of the industrial lease process, along with useful tips and details. It’s available to download at no cost, and includes:
- How to determine your need and project scope
- The process of reviewing and presenting marketplace opportunities
- The process of site selection and property tours
- How to develop and then refine a short list of suitable properties
- What to know about the RFP process and making an offer
- Details about beginning, navigating, and ending negotiations
- Approving transaction points
- Reviewing the lease and closing the deal
- Tenant improvements and post-lease start-up and occupancy
Even if you’ve leased property before, this free guide will help you improve your chances of a successful transaction. Pair that background knowledge with an experienced agent, and you’re starting things off on the right foot.