When you, as an agent, list industrial property, there are facts to know and things to check. The industrial segment of the property sector is normally quite busy. In most towns and cities it is the first sector to respond to an economic change in a town or city.
This says that you can do very well as an agent focusing on leasing and selling industrial property. As part of that, focus on the larger warehouses and the precincts in your city that are growing or popular from an industrial occupant or business location perspective.
Where can you start with this? There are property and precinct matters to be researched. The more that you know about the location and the industrial property types, the easier it is to list, inspect, and negotiate.
It is then also easier to attract the right people to the property, be they, tenants or purchasers. Review these slides for industrial property inspections.
Checklist for Inspecting Industrial Property
Let’s say you are to inspect a property for a potential listing. There are a few levels of investigation to work with. Here are a few ideas to get started on that.
- Know the subject property with all its improvements, layouts and areas. Those areas internally will be storage, hardstand, warehouse, office, showroom, and services or amenities. Look at the property from an industrial occupancy perspective and understand how you could occupy the buildings. How will it work for you and what are the strengths and weaknesses? There will always be those issues to think about and address. If the property has weaknesses of significance, then how can you address them in any inspection and or sale or lease?
- Check out the building surrounds. Look at how people get into the property, but also consider the matters of appearance, safety, security, car parking, loading, and turnaround or driveway areas. Think about how vehicles (cars and trucks) would get into the property and how they will move around. You will have staff, deliveries, customers, and the general public to consider in those matters.
- Practicality is important for business owners. The key question to address here is how practical the property would be for the business in occupancy. Consider also the external ‘appearance’ factors such as signage, the walkways, any gardens, and fencing. The questions to think about here will be centred on safety, practicality, the enviroment, and overall appearance. Many corporate industrial businesses are concerned with the visual aspects of a location because of customers, but also community acceptance.
- Look at the special zones and special issues in and around the buildings such as the environment, goods storage, machinery access and function, elevations inside the warehouse, the spans of the roofing structure, and how all of that can work for practical modern storage. Industrial businesses require certain funcionality and practicality to be successful. The zones of a property will have an impact on that.
- Consider how staff and customers would use the buildings and premises. The special parts of the property such as the office, showroom, and amenities will have an impact on the occupants and visitors to the property. Consider the special parts of the overally property with a focus on where the office area is located, how large it is, and how practical it is to the function of the partiular business.
- The impact of the occupant on the premises should be considered and documented in the lease, so any matters of excessive wear and tear, damage, or environmental risk can be controlled. Many industrial businesses bring or apply special pressures on a warehouse, or the external areas. Ensure that the property has all the ‘code compliant’ safety and occupancy issues under control and optimized for the occupant.
Slide Deck for Industrial Property Inspections
So there are many things to think about when listing an industrial property. That is why you can and should specialise in that part of sales and leasing if this is a property segment you can relate to and see the opportunity in.
Taking all of these matters into consideration, you can create your checklist and make the listing process very professional. In that way, you can convert more listings and clients to your sales and leasing processes.
To help you with that, here are some ideas and tips we have put on a slide deck about industrial property for you to keep and refer to.
Are you new to industrial property sales or leasing? Take the struggle out of listing a property type that you don’t understand or need to know more about. Use this industrial property checklist to get your questions, investigations and your industrial property listing underway.