Industrial leasing leadtime and challenges
Hello,
I’m considering acquiring a ~11k SF industrial building which was formally leased by a car detailer but could serve various uses (storage/warehouse, manufacturing, etc.).
The property is in okay condition but is fairly old and has a clear height of 14ft.
For those with industrial experience, how long does it takes to find a small to mid sized industrial tenant? What other considerations should I be aware of (e.g. what do typical industrial tenants look for when leasing space, initial capex/TIs?). Most of my prior investing experience is in multifamily which is a lot different.
Best,
Anthony