Industrial properties are still new in some Orange County locations, but the city of Buena Park, with its many tourist attractions and thriving business district has seen a rise in the need for these properties across the city. This city is nestled in the metropolitan area of Los Angeles, and is home to Knot’s Berry Farm Theme Park. Aside from the increasing number of tourists who venture into the city each year, there is also a population of more than 80,000 people living in the area.
Industrial properties, such as warehouses, in this location, come in different sizes, and with unique features which set them apart. From 3,000 square feet to 90,000 square feet, the industrial lots here are designed to host many different machines, workers, and services.
Buena Park Industrial Building for Sale & Lease
Most industrial properties in Buena Park are used for shipping, storage, automotive, and manufacturing. Price points are measured per square foot, with leases paying per square foot per year, over the life of a contract. Contracts involved in industrial leases tend to be quite long, as it is difficult to find new tenants on short notice, and there is often a lot of property and equipment to be moved when the contract ends.
Some businesses in Buena Park set themselves up for success by choosing locations which they know will extend the contract once it has ended. You can discuss renewal options before signing a lease to determine whether the owner you may be leasing from is open to a continued professional relationship. As long as you haven’t missed a payment or given a reason not to extend the lease, most owners will choose to renew, rather than find a brand new tenant, every time.
Buena Park Industrial Property for Sale
The prices of industrial lots in Buena Park depend on the size, proximity to convenient locations, and the age of the building. New, large buildings tend to be more expensive, while small, older-style buildings will be cost less per square foot. The average price for a sale of this magnitude ranges from $900,000 to $14,000,000.
If you are purchasing an industrial building for your own needs, be sure to visit the site in person before signing a sale agreement. Look for flaws in the property, areas which need to be upgraded, and whether the building has all the available features you require for succeed as a business.
Buena Park Industrial Property for Lease
Leasing industrial spaces in Buena Park opens the doors to several options you wouldn’t see while buying. You can dive in with no holds barred, and no fear of making a lifelong investment that could cost you your business. By leasing, you do take on a long-term commitment, but when the contract is over, you have the option of moving on as well.
Properties in this part of Orange County vary in price, ranging anywhere from $12,60 to $48.00 per square foot per year. If you lease a multiunit warehouse, for instance, you gain the ability to share much of the security and maintenance fees with other businesses renting from the same owner. In a multi-warehouse situation, there are usually communal features, such as parking lots and privacy gates. Each individual business would have bay doors and access to a back door.
Long-term lease agreements last about 5-10 years, and often put much of the property management requirements on the lessee. From keeping the external property clean, to paying for costs of renovations and monitoring security, you could be charged with overseeing upkeep of the building, if it is detailed in the contract. This is why an important step in industrial real estate, whether leasing or owning, is consulting with a lawyer. Your lawyer will help you read and understand your contract before you sign it. Bringing your lawyer to the bargaining table, also gives you a chance to get a better agreement.
Finding a new tenant for an industrial property is more difficult than finding one to rent a house, or even retail property. This explains the lengthy terms on most industrial leases. While being locked in for the long run can seem confining, it also protects you from needing to move large equipment and your staff from building to building. Take your time when finding the perfect lease, because you may be there for a long time. Pick an area in Buena Park where your business will flourish, and you’re already seeing potential for growth within your niche market.
Take your time and use all your resources for buying or leasing an industrial property. Be direct, and provide your realtor with a concrete overview of things that you are and aren’t willing to budge on. From parking space to staff break rooms, there are important features which could be missed if you don’t include them in the original agreement.