What do we mean by industrial buildings?
First, it is important to realize that there are four distinct categories within the sector of commercial real estate and one of these categories is industrial real estate. Now, an industrial building is essentially a commercial property that is primarily used for business purposes. Industrial buildings are considerably large establishments that are utilized for the conduction of industrial activities. These activities may include production, manufacture, warehousing, storage, and distribution of goods.
In the United States, the first industrial building was constructed in 1790 with the launch of the first American textile mill. This industrial building owing its inauguration to Samuel Slater was considered the start of the American Industrial Revolution.
Industrial buildings are those immovable properties that are directly involved in industrial activities. Such buildings are typically private properties and are not accessible to the public. These properties are exclusively accessible to the employees and workers involved in the industrial practices.
Under the purview of real estate, industrial buildings are those immovable properties that are constructed for the sole purpose of practicing industrial activities. Let us talk about the various types of industrial buildings:
• Warehouse: warehouses are a type of industrial building that is typically involved in the storage of goods on behalf of other companies. These industrial buildings are commonly known as Godowns. Such buildings are largely useful to professionals involved in the manufacturing business, wholesale transactions, export and import of goods, etc.
• Manufacture: manufacturing buildings are a type of industrial building that is primarily engaged in the manufacture and production of goods. Such buildings may be used in the processing of goods and housing equipment. These buildings work on multiple-phase electric supplies which is a basic requirement for operating the massive machinery within their walls.
• Research & Development (R&D): the integral role played by research and development in a business has been recognized universally. A research and development facility is another form of an industrial building that comprises laboratories, manufacturing spaces, and even offices within its walls. Such properties are typically engaged in the technology and biotechnology industries. The practices of such industries typically serve the goal of developing and advancing goods.
• Flex space: this is the most recent addition to the category of industrial buildings. Flex spaces are industrial buildings that are flexible in nature and can accommodate many activities and purposes at the same time.
