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Joined 1 year ago
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Cake day: October 28th, 2023

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  • I can answer this! I work in real estate appraisal and have valued a number of industrials over my career.

    The short answer is that a lot of industrial properties are built to a specific need, and to retrofit an old building to work for a new use is more expensive than building new. A building with 18-foot ceilings does you no good if your stamper is 22-feet tall.

    Let’s use an analogy: if you need an extra-large coat, and someone is willing to give you a medium coat for very little cost, does it make sense to try to use the medium? How much will you spend on fabric making the sleeves longer? The labor involved? The extra time? It probably makes more sense to just find or make the jacket you need.

    I’m simplifying of course; but just because something exists, doesn’t necessarily mean it’s useful as it is.