When listing an industrial property, there are things to check and understand.
The industrial sector of the property division is usually bustling. Typically, it is the first segment within most cities and towns to react to economic turnarounds. As such, you can prosper – even flourish – selling and leasing industrial properties.
But the question then becomes: Where do you begin?
It starts with research. The more you know about all the details: location, industrial property management for the premises, accommodation types, etc., the easier the listing, inspection, and negotiation processes will be.
Keep reading to learn the simple 6-step checklist for how to list an industrial property properly.
Industrial Property Checklist
Regarding property listing, everything about the facility should be copacetic.
How else will you attract tenants to your property? Consider the following checklist below to ensure your property makes the grade.
1. Familiarize Yourself with the Property
Familiarizing yourself with the property (its improvements, arrangements, areas, etc.) is essential.
View the property from the perspective of an industrial occupant. Then try to understand better how you would inhabit the facilities. In what ways will it work for you, and have you thought about the strengths and weaknesses of the property and how they would affect your business?
By becoming familiar with the property and putting yourself in the prospective tenant’s shoes, it’s easier to see what can be fixed to make it a more attractive facility.
2. View the Surrounding Buildings
Look at the safety, loading, parking, and appearance of the facilities. Think of how cars and trucks would get to the building and how they would get around. Consider employees, dispatches, customers, and more.
By getting a holistic view of the building, it’s much easier to gain that knowledge and perspective.
3. Ensure it’s Practical for Business Owners
Ask yourself if the industrial property is practical for the business in occupancy.
Also, consider outside variables like fencing, gardens, footpaths, etc. These considerations will float under property qualities such as environment, security, and practicality. Depending on the business owner viewing the listing, all can be major selling points.
Some corporate industrial companies are more inclined to desire appealing visual features of a particular property because it better matches their brand and culture.
4. Check the Facility for Special Zones and Issues
View inside and around the facilities and be as thorough as you can.
Check the environment, storage rooms, access and functionality of machinery, warehouse elevations, etc. Industrial companies need a certain amount of both functionality and practicality for success. Such property zones will affect that.
5. Think of How Employees and Customers Would Use the Premises
The property’s particular areas (amenities, showroom, office, etc.) will affect both the occupants and visitors of the property. So think about these areas of the property – their location, size, practicality, etc. – and how they relate and function to the business in question.
6. The Effect of the Tenant on the Facility
This aspect should be contemplated and noted in the lease.
It will ensure that any matters of direct damage, wear and tear, etc., are monitored and controlled. Many industrial companies impose pressure on a property or its outside zones. Be sure the property is ‘code-compliant’ for safety and occupancy problems and is controlled and upgraded for the tenant.
Next Step in Your Industrial Property Checklist
There is a lot to consider when managing an industrial property.
As such, it helps to get a team on your side. A team can help lighten the load and ease the pressure. For example, suppose you need assistance with industrial property management in Calgary. We at CMS Real Estate Ltd. offer the experience and tailored approach to help you relieve stress and reach your goals.
Contact us today to learn more about how we can help.