An evolution took place in the eighteenth century. The change shaped the world in terms of economy and industrial growth. That period in the eighteenth century is known as the period of industrial revolution. The daily use chores used to be made by hand but now were made using different types of machines. An example of such a machine is the cotton wheel. With the introduction of such machines, it was possible for the producers to make a hike in their production and sells. The products were way more efficient than before as they were made using machines. It was possible to not have similar products of the same type when made by hand but was possible using machines. Therefore, it can be said that all these factors shaped today markets and businesses. It also increased the urban population as people flocked to cities for work. The construction of buildings and their heights also increased. Thus, the industrial revolution also increased transportation facilities and the introduction of railways took place. Because of these varied reasons, industrial real estate grew and flourished as a business and became popular.
Industrial real estate is an umbrella or broad term. It can, in general, mean any land or property that has something to do with industries, therefore, producing or manufacturing goods, selling them, etc. Every small or big city is allotted specific places where industries generally develop or are used for industrial purposes. These places can be located using a zonal map of a city. Other places are used for different other purposes such as residency etc. Another important purpose of the zoning maps is that they specifically show where and what industrial purposes can be done. Every industrial real estate is not suitable for all industrial purposes.
There are three types rather, class types of industries. The types are Class A, Class B, and Class C.
Class A: This class type of industrial real estate basically represents the best and newest properties available in the market. These buildings are made of the best quality materials available in the market.
Class B: Class B represents old properties but not necessarily only old properties. They represent new properties as well but with not all the newest or luxurious features.
Class C: Class C generally represents buildings of twenty or more years of age. These buildings generally have very many defects. Also, some of the properties are located in less-desirable areas.
