ATLANTA—The 3D printing market is expected to reach $30.19 billion by 2022, growing at a CAGR of 28.5% between 2016 and 2022. That's according to a market research report from Markets and Markets.
Factors such as 3D printing evolving from developing prototypes to end-user products, mass customization, production of complex parts, government investments in 3D printing projects, and improvements in manufacturing efficiency are expected to drive the growth of the 3D printing market, the report reveals. But what considerations come into play on the real estate front?
“3D printers are currently capable of printing shoes in the space of a small room,” Arnstein & Lehr attorney Louis P. Archambault, a member of the firm's Real Estate and Corporate Transactions & Counseling Practice Groups, tells GlobeSt.com. “A shoe store could occupy 2,500 to 5,000 square feet of standard retail space, with a 3D printer printing shoes in the back room and a showroom in front to sell the shoes.”
However, he adds, when this business goes to apply for a business license, what is its applied use? Commercial? Industrial? It is in fact both, he says, but how is its proposed use to be evaluated by code?
“A proper evaluation would require detailed knowledge of the 3D printer and the potential for noise, environmentally harmful materials or other determining factors for proper use; how is this license to be processed?” asks Archambault. “Given the uncertainty of the application, if this business owner were to apply for a business line of credit or try to obtain investors, how would the potential risk of the business be determined? In a 'check the box' evaluation, what boxes would be checked? If the business owner had to pursue its legal remedies in court, how would this business be evaluated?”
What's preventing tech from disrupting next gen real estate developments? Find out in my recent column.
ATLANTA—The 3D printing market is expected to reach $30.19 billion by 2022, growing at a CAGR of 28.5% between 2016 and 2022. That's according to a market research report from Markets and Markets.
Factors such as 3D printing evolving from developing prototypes to end-user products, mass customization, production of complex parts, government investments in 3D printing projects, and improvements in manufacturing efficiency are expected to drive the growth of the 3D printing market, the report reveals. But what considerations come into play on the real estate front?
“3D printers are currently capable of printing shoes in the space of a small room,”
However, he adds, when this business goes to apply for a business license, what is its applied use? Commercial? Industrial? It is in fact both, he says, but how is its proposed use to be evaluated by code?
“A proper evaluation would require detailed knowledge of the 3D printer and the potential for noise, environmentally harmful materials or other determining factors for proper use; how is this license to be processed?” asks Archambault. “Given the uncertainty of the application, if this business owner were to apply for a business line of credit or try to obtain investors, how would the potential risk of the business be determined? In a 'check the box' evaluation, what boxes would be checked? If the business owner had to pursue its legal remedies in court, how would this business be evaluated?”
What's preventing tech from disrupting next gen real estate developments? Find out in my recent column.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.