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How to negotiate leasing price for retail spot?
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Hello all!

Currently looking for a unit to expand my embroidery business. Originally looking to get a warehouse space and found a few that I'm interested in. The main WH unit I'm looking into is 1,000 sf with 3 offices bathroom at ~ $1,440 rent (not including utilities / other expenses). Probably the best value and bang for your buck, the downside is that it's about a 30 min drive from me. Which isn't the biggest issue because I drive a Prius.

While still looking however, I found a smaller retail space literally 4 blocks from my apartment. It's in a plaza I frequently walk to often with my daughter & girlfriend. It's only 667 sf and the leasing price is $48.60/sf/yr (~$2,700 ).

Ideally I would love to sign a lease at about $2,000/month. Do you guys have any tips or suggestions on possibly getting it that low? Or is that just impossible? I notice some retail locations in neighboring cities charge as low as $18 - $30/sf/yr.

I feel with the current COVID situation and many businesses not even interested in leasing spaces/working remotely could be advantageous for me.

I know it's much steeper rent than the warehouse at a smaller space, but living so close is such a dream for me. I like to work at nights a lot too, so it would be nice to come home to help with family duties (cleaning, giving my daughter a bath, putting her to bed) then just heading over to work again around 9:30PM in a couple minutes.

Any advice would be appreciated, thank you!

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4 years ago