What You Need to Know About Subleasing Commercial Property
Whether you are an existing commercial business, or a start-up looking to make a splash, a commercial property location can be critical for establishing your business. Even in our current tech-driven markets, a commercial building can be critical for several reasons. Business logistics, shipping and packaging, as well as housing equipment or serving as a home base and office space are all aspects. Equally, if you are a business with properties for lease, there are available avenues for making the most of your real estate investments through commercial subleasing.
Subleasing commercial real estate allows for property owners to use other businesses as their real estate agents as well. In essence, an investor or business group will help to rent the commercial properties. This can be done for the property owner for a percentage of the profits. There are several reasons why a property owner would decide to sublease.
• Numerous properties owned – Some owners may have multiple properties across multiple cities and states. In order to remain more relevant to their tenants, owners may hire other companies to sublease and manage their local tenants.
• Specific property needs – Some tenants may need additional build-outs or specific equipment installed. A property owner may use the commercial contractor as a sub-leaser. This can be done in order to streamline the customer needs to the business making building adjustments.
• Property protections – If a property owner falls on hard times and needs to downsize. Instead of evicting existing tenants or breaching contracts, a property owner may decide to let another real estate company take over their tenants as a sub-lease. Equally, a company renting commercial space may also downsize and decide to sublease their space to another business. This can be done if it has been agreed upon with the property owner(s).
Subleasing can offer numerous options and can be quite lucrative. Contact us today at Harkins Commercial Real Estate and learn more about your subleasing options.