Choosing an industrial property is a complicated process that you should not take lightly. There are several factors you have to consider to ensure your investment is a sound one. Selecting the perfect industrial property is about more than finding an appropriately sized space or a place with an attractive rent rate.
This article shares a few crucial things you should look for when looking at available industrial properties.
The first and arguably most important thing you should consider when choosing an industrial property is the location. Several factors come into play when choosing an ideal location for your industrial building.
For starters, your facility's location should be easily found by suppliers or clients. Good infrastructural connectivity, transportation, bus routes, and rail tracks are something you may not have thought about cautiously, but they should be on your radar.
You wouldn't want to purchase or build on a property just to realize later that the building is close to impossible to move raw materials or goods in and out quickly. Or that maintenance is what you require to do before you can begin operations.
Good accessibility in an industrial building area can significantly improve productivity while adding value to your overall business. Look out for things like ample entrances and exits, loading docks, overhead bay doors, and other accessories in buildings.
Make sure to do due diligence on the surrounding area and check the crime statistics and local security arrangements. You may also want to consider zoning laws in the location since these can impact how you can use the property.
The right amount and type of space are necessary to make business operations efficient and productive. You'll also want to factor in the type of space you need. Is it customizable? Will it allow for future expansion, or is it too large?
Delineate the functions you envision your industrial property will serve, and use those needs to discover the optimal space dimensions. You'll also want to consider how the property allows for critical expansion should your manufacturing growth exceed your initial predictions. Indeed, you can consider creating flex space to use in this regard.
Flex space is an area that can be used for a variety of functions, such as storage or manufacturing. It also allows you to adjust the space to meet your changing needs. Make sure to check for ceiling heights and the number of floors, if any, to determine whether or not it can accommodate your operations.