Industrial redevelopment: Due diligence checklist
The demand for industrial distribution and warehouse space is increasing with no signs of slowing down. Recent circumstances, have fueled the need for even more space to maintain a strong supply chain close to cities and suburbs. Needless to say, this market is booming, especially the demand for last-mile properties. The only thing holding back industrial development is the availability of prime sites. Large, flat, empty sites, with access to utilities and major transportation interchanges, are hard, if not impossible to find. Instead, real estate developers and investors are left with less desirable options. These sites may have existing structures and take creative thinking to make them feasible. Most importantly, redevelopment sites need a thorough due diligence assessment.What to AssessDuring Due DiligenceA due diligence assessment will summarize assets and deficiencies to help you decide if the site is right you. A land planner and civil engineer can help evaluate your critical path, as well as any risks or challenges you could face during land development.