Searching for the ideal industrial space for your business can be a daunting task. Unlike finding traditional office space, industrial properties come with unique requirements and considerations that can make the process more complex.
At AQUILA, our industrial team specializes in helping businesses of all sizes find the perfect industrial space to meet their needs. With years of experience and a proven track record of success, we’ve assisted countless clients in navigating the industrial real estate market.
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While we highly recommend working with a qualified industrial tenant representation broker due to the intricacies of site selection and lease negotiation, we understand that some businesses prefer to explore their options independently during the preliminary stages of their search.
In this article, we’ll provide valuable tips on how to find available industrial space on your own and discuss the potential challenges you may face along the way.
Defining Your Industrial Space Requirements
Before beginning your search for industrial space, it’s crucial to have a clear understanding of your specific business needs. Consider the following factors:
- Square Footage: Determine the amount of space your business requires, taking into account your current operations, storage needs, and potential future growth.
- Location: Identify the ideal location for your industrial space, considering factors such as proximity to suppliers, customers, transportation routes, and workforce availability.
- Space Requirements: Outline the specific amenities and features your business needs, such as loading docks, ceiling height, specialized utilities, or ample parking.
- Budget: Establish a realistic budget for your industrial space, including rent, utilities, maintenance, and any necessary renovations or upgrades.
- Lease Terms: Determine your preferred lease duration and consider any flexibility you may require for future expansion or contraction.
Having a well-defined set of requirements will help you narrow down your search and ensure that you find an industrial space that aligns with your business goals.
Read Next: Industrial Lease Renewal vs. Relocation: Key Factors to Consider
Searching for Available Industrial Space
There are several methods you can use to search for available industrial space on your own. While each approach has its advantages, it’s essential to explore multiple avenues to ensure you uncover all potential options in the market.
Driving Through Industrial Areas
One of the most straightforward methods is to drive through industrial areas and look for “For Lease” signs. Many industrial buildings with available space will display signs with the leasing agent’s contact information. If you come across a property that piques your interest, simply reach out to the listed contact.
However, keep in mind that some leasing agents may not respond to inquiries from prospects who are not represented by a tenant rep broker. Additionally, it’s common for buildings to display signs even when no space is currently available, as a means to generate interest and attract potential tenants.
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Online Listings
Websites like LoopNet provide online marketplaces for commercial real estate, including industrial properties. These platforms allow you to search for available space using filters such as location, size, property type, and rental rate. Each listing typically includes photos, property details, and contact information for the leasing agent.
While online listings can be a convenient way to search for industrial space, it’s important to note that they may not encompass every available property in the market. Some owners and brokers may choose not to list their spaces on these platforms, and there can be a delay between a space becoming available and it being posted online.
CoStar
CoStar, the owner of LoopNet, is the industry-leading resource for finding information on available spaces in the market. This service is what professional brokers use to find an initial survey of what is available in any given market.
Costar gives more detail, is updated more frequently, and has a far more comprehensive database of availabilities than its free counterpart.
However, CoStar is a paid service, and will likely not be available to you if you are searching on your own. We recommend utilizing the services of a tenant representation broker to get the most out of what this online platform has to offer.
Commercial Real Estate Brokerage Websites
Most commercial real estate brokerage firms maintain websites featuring their active listings. These websites often provide detailed information on each property including photos, available space, asking rental rates, and building amenities. Visiting these websites can give you a good sense of the industrial spaces currently being marketed by each brokerage.
However, navigating multiple brokerage websites can be time-consuming, and it requires you to be familiar with the firms operating in your market. Additionally, you’ll need to manually compare and contrast the available options to determine which spaces best meet your needs.
Read Next: How Long of an Industrial Lease Should I Sign?
Challenges of Searching for Industrial Space Independently
While it’s possible to search for industrial space on your own, particularly during the initial stages of your search, there are several challenges you may encounter without the assistance of a tenant representation broker:
- Time and Resource Allocation: Searching for industrial space can be a time-consuming process, diverting your attention away from running your business and focusing on core operations.
- Limited Access to Market Information: Without access to comprehensive market data, off-market opportunities, and CoStar you may not have a complete picture of the available options that meet your requirements.
- Negotiation Expertise: Industrial leases are complex documents, and navigating the negotiation process requires specialized knowledge and experience to ensure you secure the best possible terms for your business.
- Landlord Representation: In some cases, landlords may have their own representation, putting you at a disadvantage during negotiations if you don’t have a tenant rep broker advocating on your behalf.
- Credibility with Landlords: Engaging a tenant representation broker signals to landlords that you are a serious prospect who is committed to finding the right space for your business. Landlords are more likely to prioritize inquiries from tenant rep brokers, as they know these leads have been pre-qualified and are genuinely interested in leasing space.
Partnering with a knowledgeable industrial tenant representation broker can help mitigate these challenges and ensure a more efficient and effective search process. Tenant rep brokers offer valuable market insights, access to a wide range of properties, and expert guidance throughout the leasing process, allowing you to make informed decisions that align with your business objectives.
Read Next: 7 Steps to Finding the Perfect Industrial Space to Lease with a Broker
Conclusion
Finding the perfect industrial space for your business is a significant undertaking that requires careful planning, research, and due diligence. While it’s possible to search for available properties on your own, particularly in the early stages of your search, working with a qualified industrial tenant representation broker can provide numerous advantages.
If you’re considering leasing industrial space in Central Texas, our team of experienced industrial tenant representation brokers at AQUILA is here to help. Contact us today to schedule a consultation and learn how we can assist you in finding the perfect industrial property for your business.
Interested in the property featured in the image at the top of this article? Learn more about the property on the Northgate 35 Logistics Center property page.
