Most would agree we are in a changing market with respect to industrial real estate.
Those occupying retail and office spaces are way ahead of us as their markets morphed years and months ago. With retail it was pre-pandemic and office was a result of the pandemic. But, now here we are with an uncertain future for manufacturing and logistics spaces.
So, if you lease an industrial building and you are approaching a renewal, what strategy should you employ? Assuming the space still works for you – location, size, and amenities – consider your owner. How does she view the current conditions? Is she bullish, bearish, or running for the exits? If she falls into category two or three, she’s probably willing to forego a risky vacancy in favor of constant cash flow. Read: make a deal!
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