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Industrial
Warehouse, flex, cold storage, and light manufacturing: clear heights, dock doors, and last-mile logistics.
Property Types
- Warehouse / distribution centre
- Flex industrial (office/warehouse hybrid)
- Manufacturing / heavy industrial
- Cold storage / refrigerated warehouse
- Data centre (light industrial classification)
- Last-mile urban infill facility
Physical Attributes
- Clear height (32′-40′ modern spec), column spacing, and bay depth
- Dock-high doors, drive-in doors, and truck court depth (130′+ preferred)
- Power supply: voltage, amperage, redundancy (critical for data/cold)
- Floor slab thickness, flatness (F-number), and load capacity
- Trailer parking count, fire suppression (ESFR vs in-rack), and yard depth
Value-Add
- Spec-to-build-to-suit conversion for single-tenant credit occupancy
- Automation retrofit: conveyor, AS/RS, robotic sortation integration
- Last-mile infill repositioning from obsolete light industrial
- Cold-chain upgrade: blast freezer addition, multi-temp zone build-out
- Clear height increase via roof raise on older shallow-bay buildings
Appraisal Approach
- Income approach with long-term NNN lease analysis and credit tenant premium
- Cost approach for specialized facilities (cold storage, data centre)
- Replacement cost analysis: land scarcity premium in constrained submarkets
- Functional obsolescence deduction for low clear height or shallow bay depth
Management
- Preventive maintenance: roof, HVAC/refrigeration, dock levellers, fire suppression
- Minimal tenant improvement scope; landlord focus on shell and site
- Yard management: trailer staging, truck traffic flow, pavement maintenance
- Environmental compliance: stormwater management, Phase I baseline
Strategic Concepts
- Supply chain proximity and transportation node adjacency as rent drivers
- E-commerce tailwinds: same-day delivery network densification
- Land supply constraint and entitlement barriers in infill markets
- Yield compression in institutional-grade logistics portfolios
- Build-to-suit development spread vs stabilized acquisition pricing