If you’re in need of an industrial space for your business to operate out of, the team at Compass Commercial can help! The industrial market has been booming, despite many economic issues throughout the United States. So, this is an excellent time to consider investing or leasing this type of property. Our team specializes in helping buyers and tenants find the right space for their investment or staff. If you’re investing in a space to make more income, or you’re looking to lease industrial space for your operations, we can help you! Before we cover our process for finding our client’s property, let’s look at the types of industrial space you may need.
Industrial Space Options
There are many types of industrial space to choose from. Because the industrial market is highly successful, there are more options becoming available as businesses move to bigger locations. The most common types of space are listed below, but there are others that exist. Our team can assist you in any industrial space purchase or lease, regardless of the type.
Warehouse and Distribution Buildings
Warehouses and distribution buildings have been popular for decades in the United States. However, due to the demand caused by online shopping, distribution centers are a hot commodity today. This means they are also a great investment to make. Many companies, such as Amazon, own distribution centers across America so customers can quickly get their products. But, no matter the size of the business, if you sell products, you will need a distribution building. So, if this is the business you are in, you are likely looking for a distribution building or warehouse.
Product Showrooms and Flex Buildings
Product showrooms are another popular industrial building. These are most commonly furniture showrooms, home design items, bulk-fashion products for boutiques, and electronics. Often times, when a third-party can purchase something and sell it to their customers, a product showroom is used to display the products. These are usually wide open spaces to feature a large number of products. However, they should still be welcoming as they are serving customers directly. Flex buildings offer the tenant space that can be used as an office and or a warehouse depending on how the space is set up.
A type of industrial building many people in Detroit, Michigan know well is manufacturing plants. These plants are where parts are manufactured to create the final stage of a product. Whether it be for cars, home electronics, or furniture, manufacturing plants will always be highly important for the economy. So, either investing in a manufacturing building or leasing one for your own business is a great idea.
The Compass Commercial Team’s Process
Our team knows how valuable time is for our clients. If you are a busy business owner trying to stay on top of day-to-day operations, we know you have a busy schedule. So, we follow a straight-forward process to help our clients find the industrial space of their dreams.
First, we gather an understanding of what our clients need. As you can see from the section above, there are many different types of industrial property. We will need to get a full understanding of what your needs are as a business owner. Our questions will help us understand your square footage, ceiling heights, power requirements, office to warehouse ratio, specialized equipment, and budget requirements. This allows us to have a better understanding before we start searching for your industrial space.
Next, we will contact our network and see if we know anyone who has a building that will perfectly suit your needs. If so, this makes the search process much quicker. If not, we will continue looking through commercial real estate listing websites. No matter what, we won’t stop searching until we find several great properties that will meet your needs. Then, once we find great properties to choose from, we will review them with you to see if any catch your eye. We do this so you don’t have to take time out of your day looking at different industrial properties that don’t interest you.
Our team will take you to tour the properties you think may work for your business. We will answer any questions you may have about the property and will give our insight into whether or not the sites will work. After touring the properties, you will choose at least two potential industrial properties that are right for your business. We will prepare a written request for proposal to the landlord outlining your firm’s requirements. When the landlords respond to the request for proposal, we will prepare a cash flow summary on each potential location. This will show your team the true costs of leasing each location. Understanding these costs allows us to negotiate on your behalf to get the best possible deal.
Contact Us Today For Industrial Space!
If you are looking for an industrial property to purchase or lease in Metro Detroit, Michigan, or across the country, contact us today! Our team is happy to help, regardless of your location. We only represent tenants and buyers, so we are highly specialized in this area. You can count on us to help you find an ideal location.