What to Do With Outdated Industrial
LAS VEGAS-It’s estimated that 30% of the US commercial and industrial inventory is unused and outdated. That’s a serious problem, considering that it costs companies $15 million each to maintain that square footage every year, and every year, the leasing value drops by 77 cents a foot.
These statistics come from a groundbreaking survey of those corporate users, mounted jointly by SIOR and the Industrial Asset Management Council. The results of that study, which previously appeared on GlobeSt.com, was the subject of a special session at the recent SIOR Spring World Conference here. And as exclusive media sponsor of the conference, GlobeSt.com was able to chat with two of the presenters: Mark Beattie of Hickey & Associates, and Kevin McGowan, CCIM, SIOR, of McGowan Corporate Real Estate Advisors.
In this special “SIOR Live” video interview, you will hear:
- An in-depth discussion of the methodologies behind the survey; (00:51)
- The potential ROI to be found in adaptive re-use; (2:09)
- Which facilities are the best candidates for adaptive re-use; and (3:14)
- The potential for support from available government incentives. (5:59)