Whether you are working with an investor or a user/occupant, picking the right industrial commercial property location is very important. Depending on needs, the best location might be different for each type of commercial buyer. Investor will first be looking at the potential return on investment. Some investors will want to put their money in newer developing areas and others might want to look at more established property feeling that they will be able to purchase the property at a reduced price with a higher return.
The user/occupant may start out selecting a property based on price. However, both the investors and user/occupant will want to also look at some of the same things regardless of whether they are looking at newer or more established areas.
Accessibility is a major criteria that most buyers look at. How close is it to the interstate or other major highways? Is it in an area that can access an interstate highway system that runs north and south as well as east and west? How close is the nearest major airport and how easy is it to access. For some, a rail siding might be an issue to consider. While this is not as critical as it used to be it is still important when you are considering location. Access to a seaport can be important, but most of the country will not have this option nor need.
The user/occupant will have some additional requirements that might make one location better for them than another. The availability of utility needs greater than what might be considered normal as an example. Some operation may require more power or water depending on their operation. Loading docks, ceiling height or open floor space are some of the other things to consider.
Raw industrial ground has some of it’s own requirements in addition to the ones mentioned above. For example – What are some of the zoning restrictions for that area? Are there any restrictions as to the allowable use of the property? What are the height limits, set backs and parking requirements? What utilities will be available to the site and at what level of service? While this type of information might be easy to get in existing established area, newer development may take a little more due-diligence.
All property types require a look at at demographics of a location. Is industrial growth in decline? Upswing? It all gets back to the interplay of Location – Timing and Demographics. If you have a client, or a property that needs this type of analysis and you need help finding the answers, call us @ 208-946-5271. We can help. That’s what we do.