The industrial market continues to heat up in the United States, including in Arizona where Menlo Group is headquartered. New product is continually being brought to market, and vacancies are filling quickly. If you are looking for industrial property, here are a few tips to choose the right space for your business.
Location is typically one of the top requirements of tenants and buyers looking for industrial property. Manufacturers, distributors and similar companies aren’t often customer-facing businesses, so you won’t likely need to be located on a main road to attract foot traffic like retail and other businesses do.
Instead, your focus will be on locations that will minimize travel times and transportation costs, so look for properties near major highways and airports. Likewise, you will want to choose a location in a community with an active labor pool and that is easily accessible by your employees.
Warehouses and other industrial spaces are typically quite large to accommodate heavy machinery or stored goods. You should consider both square footage and clear height to ensure ceilings and entryways are high enough for your equipment. If you expect to grow your business in the near future, choose a space with room to expand.
Depending on your type of business, you may have specific property requirements. Features to look for include:
- Loading docks
- Ample parking
- Extra land
- Fenced yards
- Heating and cooling
- Outdoor storage
- Office spaces
- Heavy power
Menlo Group was recognized as the top industrial brokerage in Arizona according to Ranking Arizona’s public opinion poll. Let our team of industrial experts help you find the perfect industrial property. Contact us today to get started.