Types of Industrial Real Estate Part 1
Most people think of tourism regarding Lake Havasu CRE investment opportunities. While tourism is a significant factor in the area, the market is much more diverse than you might think. The Lake Havasu region has a significant industrial sector. This two-part post will cover the types of industrial real estate investors and businesses should know about.
Common Types of Industrial Real Estate Properties
General Warehouses
General warehouses are conventional storage facilities that businesses have been using for years. They are broadly for storing various goods and materials that don’t require special handling or storage conditions. These facilities offer flexible layouts to accommodate a wider variety of needs. Common features include high ceilings, loading docks, and open floor plans. The versatility makes these good for investors because the space can accommodate many potential tenants.
Trucking Terminals
Transport is a crucial feature of logistic networks, and in many cases, that includes a large fleet of trucks. Trucking terminals can serve as centers to park trucks when not in use. They might also have loading and unloading areas where workers can transfer goods from large trucks to smaller vehicles. These properties should accommodate high traffic, with large paved areas for parking and maneuvering. Many truck terminals also have maintenance facilities for the vehicles.
Manufacturing Facilities
Manufacturing involves a diverse array of facilities for assembling and producing goods. These facilities typically fall into two categories: light and heavy manufacturing. Light manufacturing facilities are for electronics, clothing, or food products. On the other hand, heavy manufacturing supports large-scale industrial production, such as automotive or chemical plants. Heavy manufacturing tends to require more energy and larger machinery. Zoning and environmental issues are significant concerns with manufacturing facilities.
Research and Development
As the name suggests, businesses use these facilities to research and develop new technologies or products. For example, it could be pharmaceuticals, chemical manufacturers, vehicles, or tech companies. They might have offices, laboratories, testing facilities, and more. Many may also have warehouses to store the materials they need for research. These facilities are often highly specialized to meet specific research and development needs. They might also require technology or infrastructure you wouldn’t find in other types of industrial real estate.
Industrial Showrooms
Industrial showrooms are hybrid spaces that combine warehouse storage with retail display areas. They are for businesses that need to showcase products while keeping inventory on-site. Common examples include auto dealerships and large home improvement stores. Showrooms typically have large open floorplans and adaptable designs, which allow owners to adjust the layout as their needs change.
That is part one of our look at the types of industrial real estate. Please return for part two, where we will examine flex space, data centers, self-storage, distribution hubs, and energy facilities.
Are you interested in industrial real estate near Lake Havasu? Click here to contact Randy Shuffler, a local CRE expert ready to help you achieve your goals.
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