Westminster Industrial Property for Sale & Lease

Westminster is part of Orange County, CA, and is home to a diverse and ever-growing population. While most zones within the city are residential, there is access to a large selection of industrial properties for sale and lease. Warehouses in the city range in size, with the smaller locations being more affordable and better suited to small business needs or storage. Midsized and large locations are costlier, as they are evaluated by square footage. Industrial sites in Westminster are used for recycling, storage, manufacturing, packaging, and a variety of other tasks.

Owning industrial real estate in Westminster opens the doors to property rentals and additional income, especially if you own a large property where multiple businesses can conduct their operations. Having more than one business in one location means that even if one defaults or closes its doors, the others may continue to pay rent.

Westminster Industrial Building for Sale & Lease

Choosing between owning and leasing is a big decision, and the difference is like night and day. Purchasing a property of this magnitude will require a large deposit, and either a loan or plenty of capital. You can work with a local broker to finance the sale if you don’t have your own means to make it happen. On the other hand, leases can be paid out monthly, or yearly over a term of up to ten years. The lengthy lease terms make it easier to settle in with large equipment and find security in the location you’ve chosen to set your base in.

Westminster is less active with tourists than nearby Los Angeles, and thus it depends more upon the residents of the community to grow the economy. Having more industrial locations around town assists with this economic growth. It is also beneficial for buyers, because this is not a niche that has been exhausted within Westminster. In fact, there is plenty of potential for income within industrial real estate, manufacturing, auto, recycling plants, and other businesses using warehouses across the city.

Westminster Industrial Property for Sale

Westminster properties sell for anywhere between $75,000 to $6,000,000, with an assortment of sizes and sites to choose from. Land within the industrial section of town is also available for sale to those who wish to develop their own warehouse properties

Before buying there are a few details you should be wary of. Talk to a realtor, or the seller about the following:

  • Property Maintenance: Unlike residential buildings, industrial sites have the option to pass on much of the responsibility for upkeep to the lessee. This is due to much of the heavy machinery, and intense work that goes on in large buildings. You should get an idea about past practices, and find out if you will be able to pass on this responsibility to renters in the future. If you plan on setting up your own business in the property that you buy, you’ll want to know how previous tenants went about handling large jobs. You may even be able to use the same maintenance team.
  • Zoning: Not all industrial properties are outfitted for the same types of jobs. If you’re in the automotive industry, for example, and your need in Westminster is a warehouse to perform auto body tasks, such as sanding and painting vehicles, you’ll need proper ventilation, and waste management for chemicals. You’ll want to speak to city government about the zone laws surrounding potential warehouse sites before buying.
  • Setup and Construction: Some warehouses have parking lots, bay doors, reception areas, full kitchens, and more. Others are bare, and provide the minimum to manage storage or manufacturing purposes. To get the most for your money, tour each facility you are considering, and see if there is space for any additions you want to put in, or ask the seller if they are willing to bend on price based on missing rooms or construction that you require.

Westminster Industrial Property for Lease

Leasing industrial property in Westminster is far less complicated than buying, as there are less details to sort out. One thing you should worry about, however, is the cost of maintenance and upkeep, the price of insurance, as well as the ability of the owner to lease to somebody else following the end of your initial contract period. Fortunately, long term leases are common in industrial sites, and many lessors will go as long as ten years before changing a contract with a building management company. Be sure to discuss the option for maintenance costs over the period of the contract, as market prices are sure to fluctuate while you’re leasing the site. You may also want to include a clause for a contract renewal following the initial years of the lease.

Westminster has plenty of room to grow an industrial business, but there are risks and rewards to consider before you decide to buy or lease. Take your time, and speak to as many local industrial site owners so that you can to discover the best route for you and your business.