Panama City Commercial Real Estate Articles
Panama City Commercial Real Estate | Panama City Beach
Industrial properties include house production, manufacturing, high-tech, distribution, or warehousing operations.
These property types may also include office and/or storage space. Similar to office buildings, some industrial buildings are located in parks and can be classified as single-tenant or multi-tenant buildings. Physical and functional characteristics place industrial space into the following categories.
Bulk. A simple industrial space and may consist of little more then four walls, a roof and a floor. Bulk properties can be very large, averaging 50,000 square feet (sf) and may be measured in cubic feet because height can be critical to some industrial tenants.
Typically, bulk properties have very little office space. They may have elaborated flooring and paving around the building. Aprons leading up to the warehouse are typically made of concrete to help withstand the weight of rail and truck traffic. In addition there may be loading docks located at truck level (dock high) or have load levelers to adjust to truck bed heights.
Office/Warehouse. This type of industrial building may devote 5 to 25 percent of its space to offices and is typically constructed of metal, brick, block, or wood. A typical feature of this type of industrial building include: dock-high loading and is located near or within city limits, with good highway access.
Office/Service. These properties tend to be more expensive buildings located in attractive, park like settings with landscaping, and are usually at the highest end of market rents. Office/service properties are similar to research and development facilities comprised of more than 25 percent offices and typically are located along major road arteries.
Freestanding. This type of building is often developed in an industrial park or done as a build to suite on a selected piece of property to reduce the square footage cost of the building. Freestanding properties are typically designed for manufacturing, distribution, assembly, packaging and similar uses. These properties vary in their construction type, design, ceiling height, utility services, and amount of land, and are usually built and occupied by an owner/user and therefore may be designed for a special purpose.
This is the smallest user of industrial space (1,000 to 5,000 sf), often situated in a complex of similar buildings, where necessary supporting services are located in or near the complex. Multi-tenant properties might contain temporary space for the start-up tenants renting on a short-term basis, often for high tech, warehousing, or distribution purposes. Buildings for this type of tenant may require 18-foot or higher ceilings, efficient truck-loading arrangements, and space for offices.
Large manufacturing. These facilities are used for manufacturing, production, assembly, shipping and receiving, or major productions processes. The size of the building is based on the user’s requirements. These properties are often modified to suit a particular product or process, and therefore are subject to functional obsolescence.
Research and Development. This hybrid building type is typically comprised of offices and Manufacturing floor space. The research and development hybrid is often the most people-intensive of all industrial properties. Tenants of these properties may require many improvements, such as “clean rooms
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