What is industrial space? The truth is, industrial space/property has been around since the 1700s in the United States, possibly the 1600s. It has been, and is, a part of the landscape of America, and yet very few people truly understand what the phrase means, the different types of industrial property, and other important factors.
This, then, is a beginner’s guide to industrial space, a primer if you will, for those interested in renting some but just not confident enough to go beyond the wishing stage.
We are RDS Real Estate, serving the Greater Fort Worth area with over three million square feet of affordable industrial property for rent and commercial property for rent. Call us at 817-439-3224 for more information.
Now, though, let’s dive into industrial space.
What is industrial space?
“Industrial space” is a building used for manufacturing, production, fabrication, assembling and conducting meetings. And, while industrial space can also include warehousing tasks, it doesn’t always have to be a warehouse property.
And, with that, the light bulb turns on over your heads. All of the warehouses you have seen during your lifetime, all of the manufacturing plants, all of the assembly plants, they were all, they all are, industrial space. As we said, a part of the American landscape for hundreds of years.
Size and cost?
Industrial property can be as small as 300 square feet and as large as several hundred thousand square feet in size. They almost always have tall bay doors, a loading dock, and ample parking lot to allow large trucks to maneuver.
The cost discussion depends upon purchasing or renting. To purchase a large warehouse, or build one from scratch, you can easily be looking at several a half-million, possibly a million, dollars. But the vast majority of industrial properties you see daily are rented by companies from real estate holding companies.
The cost of renting varies according to size and location. It is entirely possible, in some cities and states, to lease industrial property for a thousand dollars per month; it is also possible to pay $5000 or more per month. Again, size and location are the determining factors.
Single most important factor when considering industrial property for lease.
The location of the property you lease will play a huge part in your business success or failure. Does the property have good access to major roads? Is it close to your target customers if delivery of goods is part of your business offerings? And is it a location which is situated in an area of growth for the future?
We have just scratched the surface in this discussion. Our advice is to hire yourself a good real estate attorney and a good tax accountant, both of whom will be able to help you as you search for property and face a lease agreement. Also find an industrial property real estate broker who has a good knowledge of your area, a professional who is approachable and willing to put in the effort to find the perfect industrial space for your specific needs.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated with over three million square feet of prime industrial property for lease and commercial property for rent. Call us no matter what you need, i.e. warehouse for rent, office space for rent, retail space for lease, shop for rent, we have it all at a price you can afford. And ask us about the Fort Worth Design District and the 917 Industrial Park, two great locations perfectly situated for the population boom currently hitting Fort Worth.