Industrial Real Estate – the Importance of Local Communities

In several blog posts, we have discussed the importance of a variety of factors when purchasing or leasing industrial real estate.  Previous posts focused on topics like code requirements and the appropriateness of the building for industrial use, such as multi-tenancy, zoning restrictions, etc.  However, another significant factor in evaluating industrial real estate is the local community. The experience of a local company, while trying to relocate, highlights the challenges and pitfalls of heavy industry companies trying to relocate in facilities in a new community.

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Local companies taking advantage of existing manufacturing spaces

In previous posts, we’ve noted the significant benefits a manufacturer can take advantage of by relocating into an existing manufacturing space.  Three recent news stories provide good examples of manufacturers proving this point.

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Building Code Considerations for Hazardous Materials

What are the building code issues that you should be aware of when looking for a building if your company uses hazardous materials? This is one of the most frequent issues we address for our clients.

If your company uses flammable chemicals or has a process that creates dust that may contribute to an explosion, then the type of construction could be an issue depending on how large the area is.  The building code allows a given amount of square footage of hazardous area for each type of construction. 

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Relocating with Flammable Materials? 6 Factors You Need to Consider

Manufacturers that use flammable materials and are considering new real estate have more factors to consider than other industrial users.  Aside from factors we have mentioned in previous blogs, manufacturers who require storage for flammable materials should also take the following into consideration when evaluating industrial properties.

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Relocating and Consolidating Manufacturing Processes In New England

While the economy recovers, we are seeing a number of companies in manufacturing industries pursuing relocation and consolidation projects. As some manufacturing companies begin to return to stronger financial positions, they are able to take advantage of opportunities in industrial real estate created by the economic downturn.  They are consolidating operations into large industrial buildings which have remained vacant. These opportunities can result in improved manufacturing efficiency, space for expansion, and even tax benefits.

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Evergreen Solar Move Opens Up Unique Industrial Space

Evergreen Solar recently decided to move their manufacturing from Devens, Massachusetts to China due to rapidly falling PV panel prices and other economic challenges that have made profitable manufacturing in Massachusetts difficult. Considered by many to be a blow to the innovative Massachusetts economy, not only because of the heavy layoffs and state investment in the facility itself, the move is also another piece of evidence showing China’s ability to lead the industry in producing cheaper solar panels (see this article for more on that topic.)

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