What do you know about industrial space for lease?
If you are the average citizen, the answer to that question is “next to nothing.” Most Americans have a functional knowledge of residential real estate, but they know practically nothing about commercial property for rent or industrial property for rent.
Let’s assume you know very little. We are going to keep this article simple. We are going to boil it all down for you into two chunks of information about industrial space for lease: size and location!
After you read this industrial real estate primer, if you have questions, contact us at (817) 439-3224. We are RDS Real Estate, developers of the Fort Worth Design District, and we have your answers.
Yes, size matters in industrial space
The basic pricing factor in industrial properties for lease is size. Properties are priced by the square foot, whatever that price might be i.e. $.75 per square foot, $1.00 per square foot. That is why it is extremely important that you have at least a general idea of the space you need before you start shopping around. Your goal should not be to find a warehouse for rent but specifically to find a 1,000 square foot warehouse for rent, or 2,000 square feet. Your goal should not be to find a shop for rent but rather a shop for rent of a specific size. Similarly, an office for rent, or a retail space for rent, should be the size you need. Never pay for space you do not need. It is like flushing money down a toilet. Few businesses have money to waste on wasted industrial space.
Location also factors into the equation
Not only are industrial properties priced according to size, but they are also priced according to location. A 2,000 square foot warehouse for rent in a busy, active economic area will be more expensive than a 2,000 square foot warehouse for rent in a depressed economic area. We can show you identical properties in Detroit and Fort Worth, and the one in Fort Worth will be more expensive for the simple reason that Detroit is not an attractive market at this time.
So what does it all mean to you, the business owner?
It means you have to have a game plan, you have to stick with your operational budget, and you have to be patient about finding what you want. You must know exactly what you need and what you can afford to spend. If you find a property which is perfect for your needs, but costs too much, you must walk away or possibly find another business owner who is willing to “share” that property with you. You have no other option if you want your business to survive. Cheating on your budget is a quick way to find yourself in bankruptcy court.
Questions? You can contact us for more information. RDS Real Estate is locally owned and operated, and the Fort Worth Design District is an economic area highly desired with prices aimed at small-to-medium sized companies. And ask about our events & festivals when you call us.
Size plus location equals value, and the Fort Worth Design District is all about value!