Key Points

• There are two major types of lease spaces for industries.
• One is a single tenant offering full control over the environment, but it is expensive.
• The other is a multi-tenant building that offers shared resources at affordable rates.

Introduction

There are two main choices to pick from. One is a multi-tenant space, and the other is a single-tenant. So, how do you select from any of these? The answer isn’t simple, as both have their own perks and requirements. All you need is a flexible industrial leasing space.

You don’t have to worry, as we’ll be exploring both of these in depth. So, you can make a great decision towards choosing the best industrial property for lease. Why waste time? Let’s start right away!

What is a Single Tenant Lease?

This is the type of rental agreement that is done between the lessor and a single lessee. Triple net NNN leases are the best for these properties, commonly used by corporations running on investments. You can learn more about triple net (NNN).These industrial spaces also offer consumer staples in perfect locations and are resilient against economic fluctuations.

There are a couple of examples for single-tenant properties:

• Medicine Stores
• Petrol Pumps
• Retail Units
• Car washes
• Drive-thrus and fast food restaurants
• Warehouses and manufacturing units

What is a Multi-Tenant Lease?

This one is dedicated to various renters. It’s done by signing the agreement between the lessor and lessees. The property has many units in this setting. Therefore, renters do get each unit simultaneously by a net or gross lease. Sustainable multi-tenant properties to invest in have a proper portfolio of reliable tenants that offer customer staples in a desired location.

Examples for multi-tenant industrial buildings include:

• Office complexes
• Shopping malls
• Industrial Warehouses 
• Healthcare centers 
• Apartment complexes

Pros of Single-Tenant and Multi-Tenant Leases?

We have understood the basics of both in detail. Now, we’ll dig into the benefits of both leases.

• Single Tenant Leases

These spaces are better as they offer more privacy with better control. Businesses can easily customise the environment accordingly without sharing anything with other companies. These leases are very flexible in terms of design and customisation. This way, you can concentrate on your business’s needs. With this lease, you can dedicate an entire space to showcasing your company’s working style and culture.

Significant Perks:

• You are the only business in the space.
• Freedom to style the space as you want.
• Availability of the space is guaranteed for an extended period.

• Multi-Tenant Spaces

Next, we have multi-tenant spaces on the list. It offers better flexibility with shorter leases and is friendly, with shared facilities and opportunities to network. This is already in trend across the globe, because more industries are now going for these types of spaces.

Notable perks for these are:

• Chances are higher for turn-key leased spaces
• Services are available within the space
• Better networking opportunities are available. 

Which One Should You Choose?

It’s not easy to pick among these options for industrial property for lease in Norwalk, CT. You have to know a few things before making the final pick.

In case you want full privacy and a certain environment that fulfills your business’s needs, it’s best. If you want full control over the site, go for this leasing option. For having a unique industrial identity and getting the customized facilities, or if you don’t want shared resources, it’s the best you can get.

But, you have to keep in mind that it’ll need a huge investment, including the leasing, maintenance, and management costs. The investment is beneficial as it’ll offer benefits and growth in the long run for your business.

If we talk about multi-tenant leased spaces, they are budget-friendly compared to the former ones. Also, it offers flexibility for your business. If you want to halve the expense with the same facilities, it’s a smart move.

This way, you can’t enjoy full control over the place. Because the choices get influenced by different voices.

Final Thoughts 

We have shed light on two different leasing options for you: one is a single tenant lease, and the other is a multi-tenant lease. 

The question is how to pick the one for your business. We have elaborated that if you want a cost-effective option, the latter one is better for you. But if you want one with more control and independence, you have the single-tenant one. 

If you want both types of leasing options under one roof, 25 Van Zant is the best option you can have. We not only have leased industrial spaces, but we also have commercial and business spaces for rent in Norwalk CT. Alongside, we have the necessary amenities as well.

Frequently Asked Questions 

What is flexible industrial leasing?

This is a type of commercial real estate agreement that allows tenants to stay with easy terms, like shorter lease durations.

What are the three main types of leases?

These are the three main types of leases:

• Gross Lease: This works in favor of the tenant
• Net Lease: It favors the landlord 
• Modified Gross Lease: It favors both.