In a competitive market, there are often different approaches to consider. In Portland OR, the industrial warehouse market continues to stay incredibly competitive and no one expects it to change anytime soon. NAI Elliott broker Chris Lio shared the reasons for the competitive market in his last video and he’s back this week with advice for businesses looking for industrial warehouse space in Portland.
Be prepared to pay close to the asking rate and asking for less concessions than usual. In the industrial warehouse sector, commercial brokers aren’t seeing things like free rent or other incentives that landlords have used in the past to bring in tenants.
When you find something that seems to fit, be ready to move quickly. Get yourself to the table with the landlord as soon as possible and present yourself in the best light, so you’re part of the conversation early as they look at offers.
When you have a limited number of options, anticipate that you’ll have to do things a little differently. A warehouse space may come along that’s not perfect but it will put you in the position of being in business versus sitting on the sidelines or in a facility that you’ve outgrown.