Greetings! I'm Christy Westphal, your local commercial real estate expert from CENTURY 21 Masters Commercial. This week, we're going to explore the essentials of commercial leasing in Long Beach. Whether you're a business owner looking for the perfect location or an investor seeking to lease out your property, understanding the leasing process is crucial.
Why Lease Commercial Property in Long Beach?
Strategic Location: Long Beach’s prime location, with its access to major highways, ports, and airports, makes it an attractive spot for businesses. This connectivity ensures a steady demand for commercial properties.
Thriving Business Community: The city's diverse economy supports a wide range of industries, including healthcare, technology, and logistics. Leasing a commercial space here places your business in a vibrant and supportive environment.
Flexibility: Leasing commercial property offers flexibility that purchasing may not. It allows businesses to adapt to market changes and growth without the long-term commitment of owning property.
Key Considerations for Commercial Leasing
Lease Terms: Understand the terms of the lease agreement, including the duration, rent escalation clauses, and renewal options. Make sure the terms align with your business needs.
Location: Choose a location that suits your business. Consider factors like foot traffic, accessibility, and proximity to other businesses or amenities.
Property Condition: Ensure the property meets your business requirements. Check for necessary amenities, infrastructure, and compliance with local regulations.
Costs: Be aware of all costs involved, including base rent, maintenance fees, utilities, and any other charges. This will help you budget effectively and avoid surprises.
Types of Commercial Leases
Gross Lease: The tenant pays a single lump sum for rent, covering all expenses including utilities, maintenance, and taxes. This type of lease offers simplicity and predictability.
Net Lease: The tenant pays a base rent plus a portion of the property’s operating expenses. This type includes single, double, and triple net leases, each varying in what expenses the tenant is responsible for.
Modified Gross Lease: A hybrid between a gross and a net lease, where the tenant and landlord share the expenses. This type offers a balance of cost-sharing and predictability.
Commercial leasing in Long Beach presents numerous opportunities for businesses and investors alike. By understanding the leasing process and key considerations, you can make informed decisions that support your business goals. Stay tuned as we continue to explore more about the Long Beach commercial real estate market in our upcoming blog posts.
If you have any questions or need personalized assistance, don't hesitate to contact me at (562) 294-1838 or via email at christy@christywestphal.com.
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