- Lower Cost to Turnover Tenants: Generally speaking, Industrial space has a few offices and a warehouse. Carpet and paint are usually the only cost when turning over a tenant. This leaves less variables to worry about which may make Industrial favorable to some investors.
- Long Term Stability: Industrial space seems to continually be in demand for companies who need work and storage space vs Office space which seems to be constantly changing due to new office models, mobility and technology.
- Reduced Expenses: Generally for Industrial investors, the Tenant is responsible for most of the costs associated with leasing such as electric, janitorial, sometimes property taxes, property insurance, repairs, and replacements.
- Flexibility: Industrial Property is flexible allowing to accommodate a variety of Tenant’s uses. There are many possibilities for Industrial build-out (depending on parking and zoning). You can have large warehouses with small offices, mostly office with small warehouse, and anywhere in between. It is generally easy to change the space according to the Tenant’s needs as long as zoning and other variables are in place.
CLICK HERE for a current snapshot of the industrial space sold in the Scottsdale Airpark within the past year. (Snapshot Data gathered from COSTAR).
Please Note: The above is only the opinion of The Lieberthal Team – before investing, consult your Real Estate Agent, Accountant and Attorney.