Leasing a Warehouse? Don’t Make These Mistakes!0

Posted by Thomas Miller, CCIM

leasing-warehouse-avoid-mistakes-miller-industrial-properties-renoIf you own a business and have reason to lease a warehouse, it’s probably a chore you try to manage as quickly and painlessly as you can. That’s usually a problem, because in your haste to get things handled, it’s very likely that you’ve fallen victim to any number of pitfalls. The result, all-too-often, is costly business errors. If you’re leasing a warehouse, don’t make these mistakes.

Warehouse Lease Mistake – DIYing It

If you aren’t in the habit of defending yourself in court or diagnosing that worrisome cough, the same reasoning should apply to leasing a warehouse. If you aren’t a trained, experienced professional in the field, why would you put yourself in the position of having to deal with them – from the other side of the negotiating table? It’s amazing what you can learn on the internet these days, but don’t make the mistake of assuming that you can bluff your way through this kind of transaction. It will cost you, even if you think you’re doing well.

Pro tip – instead of subjecting your business and livelihood to the end result of your own inexperience, find a professional. There are multiple benefits to this course of action, not the least of which being how enormously you’ll benefit from their years of experience in terms of rates, terms and conditions for your lease.

Warehouse Lease Mistake – Engaging Multiple Agents

We live in a world that automatically assumes more is always better, but this absolutely does not apply to industrial real estate. In a small market, engaging multiple agents quickly becomes problematic when the word spreads that everyone is working on the same deal. In a bigger market, multiple agents working on your deal creates the illusion that the market in your size range is actually bigger than it is, and you end up bidding against yourself for available space.

Pro tip – Find the right agent upfront by getting references and asking the right questions.

Warehouse Lease Mistakes – Get the Guide

There are three other mistakes that too many people make when it comes to leasing a warehouse. We’ve prepared a free guide laying out these mistakes and offering advice on what to do instead. If you’re in the business of leasing warehouse, save yourself time, money and aggravation. Download our free guide today.

Our posts are intended to educate commercial real estate users so they can make better decisions in their real estate use, investments, buying and selling. We encourage your input and commentary. If you are enjoying these posts and finding them useful, help spread the word via Facebook, Twitter, LinkedIn, Google + or email with the buttons above.

About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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