Industrial real estate is a type of real estate that will always have a use.
The pandemic has pivoted the way we think of the real estate industry. Even though more and more people are fully vaccinated at this point, some offices have decided to go fully remote. This has shifted the market by an increased amount of people looking for high quality living spaces, and diminished the desire for office real estate. However, there is one type of commercial real estate that has not been affected by the crazy pandemic market– industrial real estate. This makes industrial real estate a solid, dependable choice for anyone looking to invest in commercial real estate in 2021. But why is that exactly? Read below to find out!
Diverse Use
Industrial real estate is a subsection of commercial real estate that focuses primarily on large scale, open facilities that are multi purpose. Some examples include warehouses, factories, or shipyards. Once great attribute of industrial real estate is that all of it starts out virtually the same; a wide open, spacious build that is easily adaptable. This means that one industrial real estate location can be easily transformed into whatever industry a renter may need it to be, so you won’t need to worry about spending a lot of money on appearance appeal.
It’s Essential
One important factor to think about that was never needed before this pandemic is whether a business is essential or not. We now know just how important that word is when it comes to real estate like never before. Luckily, almost all industrial real estate uses are considered essential, so there will always be a need to have a physical space consistently. Even in times when a pandemic is not an issue, there are always potential tenants looking for industrial real estate to find their manufacturing or storage business a new home.
Lower Maintenance Costs
Another great attribute of industrial real estate is that there is minimal need for maintenance. The space itself is rather simple, and built to be adaptable, so most renters will bring in their own equipment they need for their business. The only maintenance you will need to worry about as an investor is the overall structure of the building itself, and any new technological upgrades. Other than that, other specialty maintenance costs will likely be up to the client to repair themselves.
Easy to Vacate and Clean Up
Unfortunately, there will always be bad tenants. Some tenants do not respect the property that they use for their business, and industrial real estate properties are no exception. However, due to their diverse nature, industrial facilities can be easily vacated and cleaned back to its initial state much easier than other types of commercial properties.
Trust the Professionals at Clagett Enterprises for Your Realty and Management Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.