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NEWS

Aug 4, 2016

The industrial market in the Midwest and across the country is booming. And with increased demand...

As industrial market booms, developers choosier about spec sites

Aug 4, 2016

The industrial market in the Midwest and across the country is booming. And with increased demand comes a rise in spec building in this market segment.

But what are developers looking for today when it comes to spec construction? Hugh Williams, principal in the Rosemont, Illinois, office of Avison Young, said that site selection has always been key for developers looking for the right sites for their warehouses, distribution centers and manufacturing facilities.

But developers today are even pickier about where they want to build their spec industrial developments, Williams said. They’re looking for sites that require little prep work before they can start building.

Gone are the days when developers would eagerly snatch up 300-acre plots of unimproved land for their industrial projects. Developers today want sites that are close to population centers. They also want sites that are shovel-ready, Williams said.

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