Many agents specialise in just industrial real estate, be that sale or leasing. That focus can be a good thing because the industrial segment can be quite unique when you consider the factors of large manufacturing and warehousing.
When you are listing a property that is industrially zoned or perhaps already has an industrial use, you need to get to the key issues of the property and how it relates to other industrial properties locally. Comparisons will help you understand future opportunity and marketing potential for the asset.
Important Facts to Investigate
Here are some factors to investigate when assessing the potential of an industrial property from a sale or lease perspective:
- Zoning – There are differences in industrial zoning, and therefore the types of work, manufacturing, and or business that can be generated in an industrial site or warehouse. Check out the zoning regulations that apply to the location and the listing; understand what types of business and manufacturing can occur on the property.
- Orders or Notices – Some industrially located properties are impacted by factors of the environment and location. Ground water, soil toxicity, topography, and stored or manufactured chemicals are just a few factors that will impact the use and or occupancy of the property. Ask about orders or notices that may have been issued to control the way things happen in the property.
- Warehouse and building floor area – There will be locations in the property that are used in a specific way. The configuration of those particular areas may suit or typify the standards of a particular industry; that means some of those areas could be redundant to the next property occupier. Review the areas and understand them. Typically you are looking at the spaces relating to warehousing, office, laboratories, storage, power plants, machinery, production, loading bays, and hardstand. There may also be special requirements associated with the certification of plant and equipment such as cranes.
- Warehouse size and construction – Storage of goods today involves pallet stacking, forklifts, floor loading, and staging areas. Every industrial business will have factors that are quite special in the way they receive, move, and store goods. Clear span warehousing will help with the logistical factors of goods movement, pelleting, and storage. Modern warehouses tend to incorporate clear span design.
- Access – Most industrial businesses today require truck access and special loading and unloading facilities. The efficiency of the moving of goods can be a big part of cost control and customer service for any industrial business. A large loading dock and infrastructure will be helpful for many occupants of business types.
Given all of these things, a good industrial property will be situated in a location that is well supported by service infrastructure such as electricity, gas, water, roads, rail, and airports. Why not do your full property assessments before you decide on the best way to market the industrial property to attract potential buyers and tenants?