Tips & Tricks for Successfully Navigating the Industrial Lease Process0

Posted by Thomas Miller, CCIM

9393gatewayext-rear-7The industrial leasing process is like anything else – the more you know before you begin, the greater your chances of success. In many instances, a business pursues the lease of industrial or commercial real estate while simultaneously continuing its day-to-day operations, and the complicated intricacies of the lease process can quickly become overwhelming. Fortunately, there are a few ways to reduce the stressful nature of an industrial property lease.

First, partner with a reputable local firm. Find a company with a solid and proven track record for closing transactions like the one you’re pursuing. And if you’re concerned that using an agent will increase the cost of your lease, read how we debunked that myth and rest easy. We’ve written extensively on the topic of finding a suitable agent – from why it’s the smartest move you can make to steps for screening potential agents to find the right one.

Second, educate yourself about industrial leases so that you understand exactly what is involved in the lease process and what you can do to streamline it. We developed a 13-step guide about the lease process for this purpose, and it’s available as a free download. The guide outlines each part of the industrial lease process and offers invaluable information step by step, plus pro tips. The guide covers:

• Determining your need and project scope
• The review and presentation of marketplace opportunities
• Selecting appropriate site locations and beginning property tours
• Developing a short list of suitable properties
• How to refine that short list
• The RFP process – making an offer
• Beginning negotiations and understanding when they need to end
• Approving transaction points
• Lease review
• Closing the deal
• Tenant improvements
• Post lease start-up and occupancy

Bottom line: if you’re considering an industrial lease in northern Nevada or elsewhere, even if you’ve leased property before, increase your chances for success with the 13-Step Lease Process Guide. Get it free now.

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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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