Industrial property has some common location factors that will make the property much more attractive to most purchasers or tenant businesses. When inspecting industrial property you could use this list as a guide to its marketability.

In saying that, also note that many industrial businesses will also have additional specific location factors unique to their business that will impact the decision on the property. Direct questioning should help you identify most of those extra things needed.

So when you get to the real location decision maker and the key person of the industrial business you can proceed down this path. The most common and desirable factors in an industrial property then are:

Proximity to good road and highway access. Consider the types of deliveries that will be coming and going from the property. How far away from the main freeways is the property located and can large trucks get to and from the freeways easily?
Abundant labor supply is fundamental to the function of any industrial business. You should identify where the labor supply will come from and how they will get to the property. Remember that the access to the property may be necessary at any time of day for the staff and labor. Could any nearby public transport be of some use?
Car parking on the property is a premium and high priority for many businesses today. When the staff arrive at the property by motor vehicle is there sufficient parking for the staff without interfering with customer car parking?
Availability of extra land and hardstand area on the property is important to some businesses. The storage of materials, containers, and machinery is a critical issue for many industrial businesses. Take measurements of the exterior of the property and the distances for truck movement and storage.
Proximity to sea and air ports may also be critical for some businesses. Having details of the port access will be of advantage in any of the inspections you take to the property.
Rail transport heads for large and heavy goods transport should be known. If heavy goods are to be transported to and from the property, much of that transport will firstly be on the rail system if it is available. The distance from the rail system to the property will be bridged by trucking. The shorter distance the trucks have to travel from the rail head, will help the business with operational costs.
Services at the property should include water, gas, three phase electric power, bitumen roads, kerbing, telephone (mobile and fixed), and internet access. All businesses today need these services as a minimum to remain operational and competitive.
Proximity to raw materials should be known. This will be specific to the business in question, although the answer should be considered. Can the raw materials that a business needs be accessed easily and how will that be done?
Onsite improvements are important based on the business to be located there. The improvements will include modern and flexible office space, warehousing, and hardstand storage. What you will need to have is the size and capability of each improvement type. With industrial property the focus is generally on production and hence the warehouse design, layout, and size will be critical to the business function. Large trucks should be able to be directly loaded and unloaded in, from, or to, the warehouse. Double handling of goods to the warehouse is not practical and is expensive. » Read more: What Creates a Great Industrial Property Site

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