Commercial Properties for Lease Erie, PA

wecreate / July 10, 2024
Commercial Properties for Lease in Erie PA at Copperleaf Community

Commercial Properties for Lease Erie, PA

Finding the right commercial properties for lease in Erie, PA can be a challenging obstacle for new and established business owners. Defined as property used solely for business-related purposes or to provide additional working space, commercial real estate can be leased from building owners in negotiated contracts that range from a single year to over ten years. Palermo Realty, one of Erie’s largest apartment and townhouse rental agencies, is quickly growing in the commercial property sector. This article provides insight into different types or classes of commercial properties, what prospective tenants should look for, and the benefits of working with Palermo Realty to find commercial properties for lease in Erie, PA including availabilities at their esteemed Copperleaf Community.

Different Classes of Commercial Properties

Commercial properties can be suitable options for a wide variety of business types but are not necessarily a “one size fits all” solution. It is important to note that there is no singular governing organization that determines the below classifications of commercial properties. These three separate classes are determined through a collective consensus between developers, real estate brokers, property agents, and bank appraisers. Any business owner or prospective tenant should have a clear vision of the property class they require before consulting with a real estate agency like Palermo.

  • Class A Commercial Properties: These buildings or rental spaces are designated “Class A” as they are the newest builds with premium locations and little expected maintenance over the first few years of a lease agreement. Often outfitted with top-class amenities, design features, and accessibility, Class A commercial properties for lease in Erie, PA provide immediate marketability for high-quality tenants and will most likely have the highest monthly rental costs.
  • Class B Commercial Properties: The most widely available commercial properties for lease in Erie, PA can be classified as “Class B.” These buildings were built in the last few decades but still provide some modernized amenities and upgrades to the original structure. Class B properties can be a suitable rental option for emerging businesses looking for an additional storefront location or new companies not capable of paying the premium costs of a Class A space.
  • Class C Commercial Properties: More often than not, Class C commercial properties were constructed over two decades ago and may need additional investment to fit business needs. These spaces can be used for companies or businesses that need extra space to support secondary locations, as investment opportunities, or to completely demolish the existing structure and rebuild for new uses.

What Tenants Should Know About Leasing Commercial Properties?

While the experienced real estate professionals at Palermo Realty can help you search for available commercial properties for lease in Erie, PA, there are several things tenants should consider before starting. Our goal is to find the ideal commercial space for you to open, grow, and evolve your business, and the items listed below help our agents narrow down the availabilities that best suit your needs.

  • Intended Use: The intended use of a commercial property is by in large the most significant factor in determining viable spaces. These uses can include additional office space, industrial use, warehousing, and retail stores. Buildings designed for office use may not work for tenants looking to open a retail location with open floor plans, and vice versa. Having a clear vision helps us narrow our focus and find the property right for you.
  • Understand the Area: Location, location, location! The final location of your business in a commercial property can go a long way in determining levels of success. Retail companies that predominantly serve walk-in or in-person customers should seek out commercial properties along busy streets like Peach Street or State Street or in downtown Erie. Researching regional demographics, competing businesses in the area, or the number of successful businesses can also help inform your decision.
  • Additional Provisions: Any prospective tenant looking for commercial properties for lease in Erie, PA should negotiate all factors of the agreement up front to avoid future complications. This can be something as simple as business hours or insurance requirements or more complicated provisions like sublet clauses or maintenance responsibilities over the length of the agreement.
  • Working With A Real Estate Agency: Working with a knowledgeable real estate agency like Palermo Realty can help ease the burden of finding commercial properties for lease in Erie, PA. We know the city of Erie and surrounding areas intimately, have strong relationships with property owners, our own commercial spaces for lease, and knowledge you can rely on to find the best space for your business.

Leasing Commercial Properties with Palermo Realty

The decades of experience and detailed knowledge of the area make Palermo Realty a premier option for anyone looking for commercial properties for lease in Erie, PA. Although space is limited we currently lease commercial spaces at our beautiful Copperleaf Community for a coffee shop, an insurance company, and other boutique retail shops and are always accepting inquiries about our properties. Whether you are looking for an additional space for your established business or your very first commercial property, Palermo Realty is committed to helping you. You can reach out to us directly by following the link below and providing us with more information on the class of property you are interested in, your business type, and any pertinent timelines that may help refine our search.

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