Sperry Commercial Global Affiliates, in partnership with Flint Brokers & Associates, are committed to the success of our clients. With decades of experience within the industrial commercial real estate space, we pride ourselves on delivering unique property-specific insight that can only be acquired through years of practice in the industrial sector, and dedicated service to Melbourne, FL, and greater Brevard County. Whether you are looking to buy, sell, or lease an industrial real estate property, we can help!
In Brevard County Florida, known locally as the Space Coast, Industrial real estate is in high demand. Over the past 5 years, nearly 25% of the jobs created in Brevard County were in manufacturing, far exceeding the state and national numbers of 8.5% and 2.9% respectively. This incredible growth in industrial manufacturing has created a tremendous opportunity for commercial real estate investors in Brevard County and Central Florida. In addition, industry along the has Space Coast benefited from the sophisticated and accessible transportation network that includes a major interstate, railroad, an international airport, a major seaport, and even a spaceport!
Industrial Real Estate
Industrial real estate is an umbrella term that is used to describe a specific category of commercial real estate. This category of commercial real estate includes warehouses, flex (or “flexible”) spaces, manufacturing, and self-storage. Industrial real estate is the foundation of a healthy-functioning local economy, and the unrelenting progress of technology will continue to create a more interconnected global marketplace. This global economic growth will, in turn, continue to create demand for warehouses, distribution facilities, and production facilities, and the need for this asset will continue to rise on the Space Coast.
Warehouse investments provide a tremendous opportunity for investors. First, the warehouse asset class benefits from the triple net lease, which dictates that tenants cover repairs and maintenance costs of the property, property insurance, property taxes, and of course, pay the given rent. Investors will also benefit from the length of the contract lasting anywhere between 5 to 10 years. These lease agreements also include clauses that benefit the investor in the form of schedules rent increase.
Multi-tenant flex industrial real estate is by nature a flexible asset class. We’ve found that our clients' tenants are rapidly adopting flex properties to allow different company functions to coexist within a single building, or within an industrial business park. Further, flex property leases are competitive for investors, in comparison to the traditional office space lease, due to their price point. Flex properties typically lease for less than the traditional office space, creating a competitive edge for our clients while still awarding them a favorable return on their investment.
Manufacturing property, by definition, is a building with less than 20 percent office space, and is outfitted to perform manufacturing related tasks. Manufacturing commercial property generally falls into the two subcategories of heavy manufacturing and light assembly. Much like other industrial commercial properties, manufacturing properties also support triple net leases to the benefit of the investor.
While this is often classified as a type of retail investment, self-storage acts as a great passive asset class. This category of commercial real estate provides a tremendous upside for investors due to its resiliency. Whether the economy is good or bad, self-storage is always in demand. Typical cap rates for self-storage have fallen dramatically in the last few years, with rates ranging between 5 and 6%. Self-storage property also offers the unique opportunity to use the same space to offer car / RV storage and even offer car washes on site. These unique strategies can push up NOI, and thus improve that property cap rate.
When clients look to engage in the purchase, sale, or lease of industrial property they often rely on the services and investing insight of a dedicated commercial real estate broker. Industrial investment transactions involve nuances that require an experienced, and trusted advisor who knows the assets, and the players. Here at Sperry Commercial - Flint Brokers & Associates, we not only have ample years of experience assisting our clients in the acquisition and disposition of investment properties, but we’ve also developed an extensive understanding of local income property investment opportunities here in Melbour,e and greater Brevard County through our years of service in the community. With major employers like Harris Corporation, Northrup Grumman, and Lockheed Martin putting down roots in the Space Coast, this community offers a fabulous opportunity.
Full Commercial Real Estate Brokerage Services
We are proud to maintain our title as the local go-to industrial real estate firms. And in doing so, we’ve established ourselves as one of the most trusted and experienced commercial real estate brokers in the industry! Whether you seek sales and or leasing expertise, we can provide unique, local guidance that has been cultivated through years of dedicated work in the Melbourne Florida community.
Contact Us Today to learn more about some unique income-generating commercial properties available on Florida's Space Coast, in the Melbourne area, or anywhere in Central Florida.