Fullerton is a mere 25 miles from the heart of downtown Los Angeles. The city has a population of more than 130,000 individuals, and is constantly growing to meet the needs of newcomers and tourists. While the city is best known for its thriving residential districts and schools, the industrial sector of Fullerton is something of a hidden gem. This makes it an ideal location for those seeking warehouses and other industrial properties for sale or lease.
Deciding whether you want to buy or lease is a big deal, and will come down to available locations, personal finance, and the needs of your business. Not all companies are in a position to buy, while others may just gain more benefits from leasing than owning.
Fullerton Industrial Building for Sale & Lease
Industrial locations in Fullerton are used for manufacturing, assembly, recycling, automotive industries, and more. Due to the wide selection of buildings hosting an assortment of different equipment and features, you must be sure you’re getting the right type of building for your business. For example, jobs that include welding, paint, or chemicals will need proper ventilation. Tasks which require sorting and assembly, will need large open spaces, bins, conveyer belts, and the like.
Before you lease or buy, you’ll also want to look at the measurements of the building you will potentially use. Most industrial real estate are sold based on square feet, and this is a measurement of usable floor space. Warehouses sometimes have height requirements as well, depending on the equipment you will be bringing inside. Before you start looking for a location, get a measurement of your tallest equipment. You’ll want to ceiling to clear it, with room to spare. You might end up paying more for higher ceilings, but it will be worth it in the end, when everything fits correctly.
Fullerton Industrial Property for Sale
When leasing a residential or office building, things like maintenance, insurance, and other building fees are often covered by the owner. In industrial buildings, however, the renter is usually obligated to pay for these services themselves. This is because of the heavy-duty work, machinery, and other equipment which are used in warehouses and other large industrial spaces. If you’re thinking of buying and then leasing the space to other companies, this is one area of the contract you can benefit from.
If you’re buying property to use for your own business needs, then there are a few aspects of the space you’ll want to discuss with your realtor before buying. Here are a few questions to bring to your initial consultation:
- Is this area zoned for the type of industrial work that I will be doing? Will I need any further permits?
- What is the resale value in this area? Has Fullerton seen much growth in its industrial sector lately?
- Will the design and materials of this building allow for future renovations? When were the electrical fixtures and windows last updated or renovated?
It also helps to have a list of potential features you would like to see in the industrial building. Things like garage bay doors, separated spaces, certain types of machinery, and parking availability are all good features to ask about.
Fullerton Industrial Property for Lease
Industrial property in this city is leased based on square feet, which means that you will pay more for larger spaces, and less for smaller ones. In a sense, this format for pricing is convenient, dependable, and fair, but there are often more factors at work than just square footage alone. Your location within the city limits, special amenities, and how new the building is will also make a difference as to whether the price will go up.
Leasing industrial real estate differs from standard house rentals or retail property in that most leases are long term. Five to 10 years is an average contract length on an industrial property. This is because they are more difficult to disassemble and reassemble in a new location. While this lengthy contract has benefits to you as a renter, it also acts as protection for the owner. These large buildings don’t rent as quickly as small shops and residential properties, which means that when one tenant leaves, it can be weeks or even months before another comes along. Keep this in mind when you’re putting in an offer to lease, and the owner may sweeten the pot for you based on a longer contract.
The average income for families in Fullerton is more than $80,000 per year. This is above average for many nearby cities in Southern California, and as such puts Fullerton on the map as a front runner in business and tourism. While most industrial property owners aren’t looking for the same foot traffic as retail and hospitality businesses, it certainly helps to increase the value of property which has been purchased.
If you still haven’t decided whether leasing or buying is the better option, speak to a broker and realtor, and go through your options. Both have positive and negative outcomes to consider.