What is service industrial real estate?

What is service industrial real estate?

Service industrial real estate is small bay industrial space leased to contractors, trades, ecommerce businesses, distributors, and light manufacturers. A typical suite combines a roll up door, open warehouse or shop space, and a small office. Tenants use the space to store equipment and inventory, run a shop, and serve customers in the surrounding area.

What is flex space?

Flex space is a single story building that combines warehouse or shop space with office space in the same suite. The owner can change the mix of office and warehouse to fit each tenant. Flex buildings are usually divided into several suites, each with its own entrance and roll up or dock door.

What is small bay industrial?

Small bay industrial is multi tenant industrial space divided into small suites, often between 1,000 and 10,000 square feet. It serves local businesses that need a door and a work area but not a full distribution warehouse.

What is micro bay space?

Micro bay space is the smallest format of flex industrial. Each unit is usually under 1,000 square feet and has its own roll up door. It is also called micro flex or micro warehouse space.

Tenants are contractors, ecommerce sellers, and small businesses that have outgrown a garage or storage unit but do not need a full shop. Micro bay is often built alongside self storage and leased on short terms, much like a storage unit.

What is industrial outdoor storage (IOS)?

Industrial outdoor storage is industrial land used mainly to park, store, and move trucks, trailers, equipment, and materials. A typical IOS site has a small building, a paved or gravel yard, and good highway access. Tenants include contractors, equipment rental companies, and logistics operators.

Who leases service industrial space?

Electricians, plumbers, HVAC contractors, landscapers, ecommerce sellers, distributors, and light manufacturers. Most are small, locally owned businesses that need space close to their customers.

How is small bay flex similar to self storage?

Both serve many small customers on short leases, and demand comes from the surrounding area. Most owners are local and hold one or two properties. Self storage grew into an institutional asset class once operators ran it on central pricing, leasing, and collections systems. We apply the same model to small bay flex.

What does a third party manager do for a flex property?

A third party manager leases suites, sets rents, collects payments, coordinates maintenance, and reports results to the owner. The owner keeps the property. See our third party management services.

Where does Cornerstone Flex invest?

We acquire, develop, and manage properties in high growth markets across the East Coast, Midwest, and Sunbelt. We have two ground up developments underway in North Carolina, in Kannapolis / Concord and Fuquay-Varina.