A STEP-By-step Guide to Leasing Your First Commercial Space
- Cheyenne Matos
- Sep 5, 2025
- 3 min read
Leasing your first commercial space is an exciting milestone, but it can also feel overwhelming. Whether you’re opening a retail store, expanding your office, or setting up a warehouse, the process comes with unique steps, legal details, and financial commitments.
At Blueprint Commercial, we’ve guided countless tenants through their first lease. Here’s a simple step-by-step guide to help you move forward with confidence.
Step 1: Define Your Needs
Before you start touring properties, clarify what you need:
Size: How many square feet do you realistically need today and in the next 3–5 years?
Location: Do you need high foot traffic, highway visibility, or proximity to suppliers/clients?
Budget: Beyond base rent, factor in common area maintenance (CAM), utilities, and insurance.
Layout: Think about private offices, open floor plans, storage, or specialized build-outs.
Tip: Make a “must-have” vs. “nice-to-have” list to guide your search.
Step 2: Assemble Your Team
Commercial real estate is complex- you don’t want to go it alone. At a minimum, consider a:
Tenant Rep Broker: Advocates for your interests, finds properties, and negotiates lease terms.
Attorney: Reviews legal documents to protect you from hidden risks.
Contractor/Architect: Advises on build-out costs and feasibility.
Accountant: Helps evaluate the financial impact.
✨ Blueprint Commercial specializes in Tenant Representation. We can help guide you and recommend vendors who can help get your project to the finish line.
Step 3: Start the Property Search
With your broker, tour properties that meet your criteria. Compare:
Visibility and signage opportunities
Parking availability
Condition of HVAC, electrical, and plumbing
Neighboring tenants (will they complement or compete with your business?)
Pro Tip: Keep detailed notes and photos- it’s easy to forget details after multiple tours.
Step 4: Submit a Letter of Intent (LOI)
When you’ve found a space you like, your broker will draft an LOI- a non-binding offer outlining the major business terms:
Rent and escalation schedule
Rent abatement
Lease term (typically 3–10 years)
Tenant improvement allowance (TI)
Renewal or expansion options
Responsibility for operating expenses (CAM, taxes, insurance)
This sets the stage for the lease negotiation.
Step 5: Negotiate the Lease
This is where having a strong team pays off. A commercial lease is a legally binding contract with long-term implications. Common items to negotiate include:
Base rent and free rent periods
Build-out allowances
Personal guarantees
Maintenance and repair responsibilities
Sublease and assignment rights
Your broker and attorney work together to ensure you’re protected.
Step 6: Plan Your Build-Out
Most tenants need modifications before moving in. Review:
Timeline: Coordinate with your landlord and contractor so build-out aligns with your opening date.
Permits: Make sure required permits are filed early.
Budget: Stay realistic about what allowances will and won’t cover.
Step 7: Move In and Open for Business
Once the space is ready, it’s time to move in. Be sure to:
Inspect the property and document its condition.
Transfer utilities into your name.
Set up signage and marketing before your grand opening.
Congratulations- you’ve officially launched your business in a professional space!
Final Thoughts
Leasing your first commercial space is a big step, but it doesn’t have to be stressful. With the right guidance and a clear process, you can secure a location that supports your growth today and in the future.
At Blueprint Commercial, our tenant representation services ensure you get the right space on the right terms. From site selection to lease negotiation, we’re here to guide you every step of the way.
👉 Ready to start your search? Contact our team today to schedule a consultation.
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