Commercial Lease Checklist

[Adam Lowe]

Hey Everyone,

I don't see many conversations on BP regarding Commercial Real Estate, especially in my area (Tampa Bay) so I figured I'd share this checklist for small business owners looking to lease a commercial space. Hopefully it'll be a value add and maybe spark more CRE topics:


Here’s a quick "Ready to Lease" checklist I share with business owners before they sign anything:

Know Your Needs Clearly:

Size, layout, location, and future growth plans. Don’t just lease for today — lease for the next 3–5 years.

Understand the True Cost:

It’s not just base rent. Ask about CAM (common area maintenance), utilities, build-out costs, and annual increases.

Review Key Lease Clauses:

Assignment/subletting rights, renewal options, recapture clauses, and repair responsibilities — these matter as much as rent.

Check Landlord Incentives:

Vacancy is up in many markets, which means landlords may offer free rent, TI (tenant improvement) allowances, or more flexible terms.

Line Up Your Team

Have your broker, attorney, and lender (if financing improvements) involved early. It saves headaches later.

Question for you:

If you could go back in time, is there anything you’d do differently before signing your lease?

[Adam Lowe]

Hey @Evan Polaski, I appreciate you adding to the conversation and the insights!

Vacancy for industrial in my market (Pinellas county) Is at a nine year high interestingly enough. Despite the recent increase in vacancy there's still been a moderate 4.4% YoY rent growth. At first glance it can make you scratch your head but the paradox here is caused by a flight to quality and land scarcity. Driving tenants from older obsolete spaces to the newer more modern spaces. 

You're correct. There are a lot of levers to be pulled in a lease negotiation depending on which side of the table you're sitting on, asset class, specific business etc. Maybe I'll do a post on Commercial lease structures next!