Expert Opinion

How to Maximize Industrial Property Sales and Leases in a Changing Market

Economic opportunities continue to make growing companies look into industrial style commercial properties in midsized cities like those in the Upstate. Therefore, as the owner of an industrial property looking to lease or sell, how do you position your building as most desirable in the eyes of investors—many of whom are from outside the state and region? And as a potential tenant, how can you maximize a lease opportunity? As a 30 year veteran of Hubbell Lighting, Richard Barrett, now a broker with Bentley Commercial, says he’s been on both sides of the table in many parts of the country. “I still have vital connections in a variety of markets, and can help you focus in on the right prospective tenants, and make suggestions on the modifications or enhancements needed to improve the property,” he says.

Barrett urges those looking to lease or sell to consider the overall appeal of both the interior and exterior of their building, taking into account landscaping, paint and debris. Inside, he suggests making sure floors are clean, electricity and plumbing maintained, and rooms, hallways, and storage areas are clear of clutter. “ I have a great appreciation for what tenants are looking for in a facility. Properties left unattended are unappealing and will deter an interested buyer or tenant.” For prospective tenants, Barrett says whether you need a new distribution center, sales office, assembly operation, or full scale manufacturing facility, it is important to be prepared. This market has opportunities, and with the help of a good broker, you can better negotiate with an owner willing to work to meet your needs. Barrett says, “Bentley has a strong industrial team in place. We all work together to be client-driven and focus on our client’s needs so that we can create the best solutions possible.”