What is the average rent for a warehouse greater than 50K sq. ft.?
$3.89 per sq. ft. per year
What is the average rent for a manufacturing facility greater than 50K sq. ft.?
$5.09 per sq. ft. per year
Is there a rent review during the lease?
What are the average service charges (OPEX)?
$0.45-$1.30 per sq. ft. per year
Who is responsible for the service charges?
What are the average taxes paid on the lease?
$0.60-$1.00 per sq. ft. per year range; typically, the average is around $0.80 per sq. ft.
Who is responsible for the property taxes?
Tenant (Note: Landlord is typically directly responsible, but the tenant pays as either part of rent in the case of a modified gross lease or as a direct pass-through from the owner to tenant).
Who is responsible for the utilities?
Tenant (Note: Landlord pays a small portion of utilities for things like exterior lighting, which is included in CAM charges, but tenant is responsible for gas, electric and phone services).
Who is responsible for the fit-out costs, if any?
Tenant (Note: This is negotiable but typically the tenant provides the landlord with a list of requirements that ultimately are included in the rent).
What is the typical security deposit?
1 month rent
How is car/truck parking paid?
Usually included in rent
Any other occupancy costs?
Insurance (on the building itself), CAM and property management fees.