When a company starts to grow, it can be difficult to keep up with only a small office. In order to expand, companies need new workers, new technology, new inventory, and, of course, the space to put it all in. With 4 billion square feet of warehouse space built between 1990 and 2003, and more warehouse development on the rise with an average growth rate of over 7% per year, finding a warehouse to rent can be easy. Sixty-two percent of the 59 million square feet of commercial warehousing under construction lacks tenets, which means there’s a huge supply of warehouse space for you and your company. But how do you choose which space is best for you?
When choosing a warehouse space, the first step is determining warehouse space needs. While size is the most obvious factor to take into consideration, you should also think about other important aspects, such as water access or electricity needs. You should also consider the employees that will work there, who will need proper ventilation, a parking lot, break room, and bathroom facilities.
It’s also important to consider the location of your warehouse. If the warehouse is for storing purposes, it might be easier to find a location further away from busy areas. However, if you use the warehouse to send out shipments, it might make it easier to find a location near a highway. With commercial leases, it’s important to find a space that can benefit your company now, and in the future. Will this space be able to meet the needs of your company’s future growth? Is it in a location that will still be relevant to your company in the next few years?
When entering into an office lease agreement, protection of your property is another thing to consider. Make sure your equipment is covered by your insurance, as commercial leases often do not cover the renter’s property. That means if there is damage, your company will have to deal with it, even if it’s not by any fault of your own.
When choosing a warehouse for your business, it is important to take the time to consider all of these variables. Choosing the right space for your business will likely increase your production, and allow your company to grow even more.