Posted by Randy on February 21, 2011 at 17:03:52:
I am hoping that some of you can share some insights
about
being a landlord of an industrial park ? the kind that
would
rent to service contractors and small repair shops.
Currently I own a large (by my standards: 35,000 sq ft)
single tenant industrial building on a NNN lease that
works
beautifully for me, but I worry about the day I lose my
tenant and thus most of my income. I think a multi
tenant
building would be more appropriate to my situation. I
paid
my landlord dues in residential and really don?t want
to
have to go back to them. I look at industrial parks and
on
the surface they look very attractive to me, but I have
no
experience with them.
I live in California but my building is on the northern
edge
of metro Atlanta, which being NNN is no problem at all.
In
CA I don?t see industrial parks priced anywhere near a
point
that makes any sense, but in GA, TX and NC there seems
to be
some very interesting deals. Do such properties lend
themselves well to an out-of-state owner situation?