Commercial Property Loans Facilities are increasingly being built with 50'x50' and larger column spacing. New innovations called "speed bays" (area from the dock doors to the main column) have larger spacing than the rest of the facility to provide even more room for product being staged for loading/unloading vehicles.
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Land - Obviously the more land with the property or home, the better. Three key areas stretch of land around the property can be utilized for:
- Trailer Storage - Stated earlier, imports to your U. S. are increasing rapidly and also the need for trailer together with shipping container storage is becoming a crucial issue. Communities are beginning to push back on this issue limiting, or banning trailer/shipping containers in their communities, which they see for an eyesore. It is important to check with local officials to learn the laws pertaining to this to check the limitations are known.
- Car Parking - This is particularly important to manufacturing companies who typically have many more employees compared to a distribution center. Typically new distribution centers will not have as good of some sort of parking space/building square video clips ratio than older production facilities.
- Outside Storage - This ties in along with the trailer/shipping container storage issue. There is a robust demand for outside storage space from both distribution and manufacturing facilities. With communities looking to restrict this, you can have a distinct advantage over competing buildings whenever you sell.
- Building Expansion - This can be a little more obvious, but having land to help expand your building is very important to many buyers.
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Taxes - What you are going to pay in real estate taxes will have a big impact on the selling price. In your Chicago industrial market where by I work, we see real-estate taxes ranging from usd. 30/foot to $4. 00/foot contingent on which county you are in. This will have an important impact on the price you will get when you sell. Check with your county and local community to see what types of tax incentives are accessible to you. For example: in Prepare food County, IL there is some sort of tax abatement program you must apply for before you purchase the property so it is important to check on this prior to you (or your potential buyer) purchasing the home.
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Labor Supply - Being proudly located near the labor, your need is critical for your operations. Companies have relocated to help nicer buildings in better communities just to experience significant losses in their labor force. All increases in size they made in the property market are lost in output. This is particularly important if you are looking to purchase an older lower clearance facility in which the next user will probably be a production company.
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Office space - Typically 5-10% with the building's total square footage is office space. The percentage of workplace can be critical in how many users could use ones building. Too little space will force the new user to create space inside building thereby taking up room because of their operations and add costs on the acquisition for the buyer. Industrial buildings that have excessive office space will make it difficult for users to help justify purchasing space that they can't use.
Commercial Property Loans