OUR SPECIALISTS ARE Here to Assist you
The industrial sector covers a wide variety of usage types and specialized knowledge is essential for both investors and space users.
When people think of industrial properties, they usually think of factories manufacturing things, but the sector also embraces light industrial parks where there may be limited manufacturing, warehouses, logistic centers, even showrooms, and car repair centers.
With such a range of property types, as you can appreciate, no matter which industrial sub-sector you are involved in, there needs to be a vast knowledge resource of how best to handle the property in question. But that’s what we are here for, so, whether you are a landlord or tenant, seller or buyer of industrial space, one of our professional commercial property advisors at Century 21 will be able to provide you service.
Typically, many manufacturers tend to own the industrial space they occupy owing to the complexity of their processes and their desire not to have to move due to relocation costs involved. There’s more flexibility for logistics or warehouse users, although many do own their properties, maybe in conjunction with an investment entity—or at least hold very long leases.
As you might expect, given that investment yields tend to be higher in the industrial sector than with other asset classes, there is a large pool of investors who acquire industrial property for cash flow or rental yields.
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Our industrial experience can help you with issues such as:
Is often determined by planning authorities who favor restricting most industrial uses to certain zones, perhaps grouping certain types of factories together. However, good accessibility to road and rail systems and airports is important for industrial space users in the case they have goods to transport—but also the location has to be convenient for customers and employees.
Investors will always look for well-located industrial properties close to population catchment areas and with good accessibility and potential for long-term value growth.
Can the industrial property meet the requirements of the occupier in terms of matters such as ceiling height, floor loading, door access width, power supply, drainage provisions? Any other special requirements need to be noted.
Most local authorities have different use categories for different types of industrial premises, with certain uses not permitted in or close to, for example, residential areas. Categories may include “clean industrial” or “dirty industrial” (heavy manufacturing or processes such as fabric dyeing.
DURATION OF LEASE
If the industrial property is not owned, are leases 3 years, 5 years, or maybe even 10 years available? Plus, is there a right or an option for a tenant to renew the lease after the first period (the "Term") expires?
How is the rent calculated, is it only on the space occupied, or is there a separate rent for ancillary areas such as open storage areas or use of loading docks if these are communal?
Will the lease be: Triple Net (“NNN”), Double Net (“NN”), or just a Net (“N”) lease? It is best to ask one of our professionals if you don't know what these terms mean.
COMMON AREA MANAGEMENT ("CAM")
How much are these? What do they cover? Who pays and do they increase every year?
RENTAL SECURITY DEPOSIT
How much is this and what is it for?
Can the premises be easily accessed by container trucks or other commercial vehicles? Are there ample loading and unloading bays? What about customer and employee parking?
You can be sure that Century 21 has specialists who are both knowledgeable and experienced regarding the above issues. No matter what your requirements are for industrial property, we can provide a full service to suit all of your needs.
Whether you are an owner, a tenant, a buyer, or a seller, all you have to do is call or email us and we’ll be pleased to assist!
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Our Commercial Advisors offer local knowledge
with a global reach.