Metal Building Solutions for Industrial Condominiums
A unique convergence of economic challenges has recently driven up demand for a relatively new type of multi-tenant commercial building known as the “industrial condominium,” or “industrial condo.”
Commercial Real Estate & Buildings are always in demand
The Rising Demand for Commercial Real Estate
Businesses are in need of more space to expand than ever. There are a few reasons for this:
- Many companies are turning to domestic manufacturing and distribution to remedy global supply chain issues, increasing the need for industrial properties.
- With many businesses now shifting away from remote work and bringing employees back into shared workplaces, the need for office space is also on an upward trend.
- On the retail side, the e-commerce boom and the Covid pandemic have created a void of brick-and-mortar stores and shopping centers, which once served an important socio-economic role as places to gather, socialize and buy essential goods.
Industrial Condos: An Innovative and Affordable Solution
Despite the widespread need for commercial space created by these economic conditions, a shortage of available real estate and steeply rising costs are making it difficult for companies to find and purchase new buildings.
Industrial condos present a much-needed solution to this in the form of a cost-effective shared property where businesses can find affordable office, industrial, retail and other space while enjoying all the benefits of ownership.
Industrial Condos: One of the most flexible building types
Lower Cost, Greater Flexibility
As in residential condo arrangements, tenants individually own and largely control the interior portion of their building unit, but share communal spaces such as hallways, walkways, garages, parking areas and lobbies, lowering the overall cost of occupancy.
Unlike other types of buildings, industrial condos can easily be configured as mixed-use spaces, making them a versatile, pragmatic investment for both developer and consumer.
The Benefits of Using a Metal Building System
Industrial condos are increasingly constructed with metal building systems, which are:
- Fast to raise
- Cost-effective
- Incredibly durable
- Easily adapted for a wide range of uses
Metal building systems are especially well suited to creating column-free interiors with expansive floor areas and overhead space, allowing them to accommodate manufacturing operations, warehouses and distribution centers as readily as offices and coffee shops.
Affordable to build and designed to optimize the space with numerous, multi-purpose units, metal industrial condos can provide a large return on the developer’s investment in just a few years.
The Commercial Community: A New Era in Retail
While the versatility of metal industrial condos makes them a great choice for office parks and industrial centers, they also provide an ideal construction solution for mixed-use buildings, including the “commercial communities” now popping up all over the country.
Contemporary retail’s answer to the outdated but once beloved shopping mall, the commercial community brings together a range of goods, services and opportunities for social interaction in a single area.
Features may include:
- Indoor and outdoor marketplaces
- Patios or lawns for socializing
- Breweries, wineries and distilleries
- Restaurants and other types of food service
- Access to locally sourced and artisan products
- Performance spaces for music and other entertainment
A single commercial community with a wide variety of tenants
Flexibility Is Key
Because a single commercial community must be able to accommodate a wide variety of tenants, often housing both production facilities and customer-facing stores, it’s important that the spaces are scalable and easily adapted for different uses.
Retail and restaurant space is also subject to frequent turnover, so the flexible nature of metal buildings and the ease with which they can be converted lend themselves well to these ever-evolving properties.
Powerful ROI
No matter how they are put to use, well-built metal industrial condos provide an incredibly durable, energy-efficient and cost-effective solution across the board.
High-quality metal buildings systems can:
- Be erected quickly, resulting in a faster return on investment
- Offer unparalleled longevity thanks to warp- and crack-resistant exteriors
- Withstand even the most demanding weather conditions
- Require little to no maintenance
- Help maintain a temperate indoor environment year-round
Unbeatable Indoor Climate Control
Unlike wood and other frames, a well-crafted steel building will have minimal gaps in its construction, keeping cold air out and heating costs low.
Steel buildings can also support extremely thick layers of insulation, helping keep them warm in the winter and cool in the summer without excessive energy consumption.
An Adaptable Investment
For developers looking to build an in-demand real estate property that isn’t limited by narrow zoning restrictions and can easily be adapted to changing economic trends, a metal industrial condo can be a great investment.
The Package Steel Advantage
Package Steel’s metal building system provides the perfect framework for any industrial condo project, including a Multi-Span Rigid Frame that comes in 50-foot-plus widths and an unmatched selection of architectural styles and trim.
Unlike purveyors of off-the-shelf building kits, we provide personalized support throughout the building process for a great customer service experience from the first meeting to the finishing touches.
Contact us at 1-800-225-7242 or [email protected] to get started.
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