2.2 Industrial Real Estate: Warehouses, Flex Space & Manufacturing
- 9 Sections
- 40 Lessons
- 40 Quizzes
The Industrial Universe
- Lesson 1.1: The Building Behind Everything You Buy
- Quiz 1.1: The Building Behind Everything You Buy
- Lesson 1.2: Bulk Distribution and Logistics Facilities
- Quiz 1.2: Bulk Distribution and Logistics Facilities
- Lesson 1.3: Light Industrial, The Business Park Workhorse
- Quiz 1.3: Light Industrial, The Business Park Workhorse
- Lesson 1.4: Flex Space and R&D Buildings
- Quiz 1.4: Flex Space and R&D Buildings
- Lesson 1.5: Cold Storage, Manufacturing, and Data Centers
- Quiz 1.5: Cold Storage, Manufacturing, and Data Centers
Physical Specs, Reading the Building
- Lesson 2.1: Clear Height, Why Vertical Space Is Money
- Quiz 2.1: Clear Height, Why Vertical Space Is Money
- Lesson 2.2: Dock Doors, Drive-In Doors, and Truck Courts
- Quiz 2.2: Dock Doors, Drive-In Doors, and Truck Courts
- Lesson 2.3: Column Spacing, Floor Load, and Flatness
- Quiz 2.3: Column Spacing, Floor Load, and Flatness
- Lesson 2.4: Power Supply, Amps, Voltage, and the Infrastructure Arms Race
- Quiz 2.4: Power Supply, Amps, Voltage, and the Infrastructure Arms Race
- Lesson 2.5: Yard Ratio, Site Coverage, and Trailer Parking
- Quiz 2.5: Yard Ratio, Site Coverage, and Trailer Parking
Industrial Tenants, Who They Are and What They Need
- Lesson 3.1: Third-Party Logistics Operators (3PLs)
- Quiz 3.1: Third-Party Logistics Operators (3PLs)
- Lesson 3.2: E-Commerce and Fulfillment Operators
- Quiz 3.2: E-Commerce and Fulfillment Operators
- Lesson 3.3: Last-Mile Delivery Operators
- Quiz 3.3: Last-Mile Delivery Operators
- Lesson 3.4: Manufacturers and Cold Chain Tenants
- Quiz 3.4: Manufacturers and Cold Chain Tenants
- Lesson 3.5: Tenant Credit and the CRE Risk Matrix
- Quiz 3.5: Tenant Credit and the CRE Risk Matrix
Industrial Leases, Structure, Terms, and Provisions
- Lesson 4.1: The NNN Lease, Industrial's Default Structure
- Quiz 4.1: The NNN Lease, Industrial's Default Structure
- Lesson 4.2: Rent Structure, Base Rent, PSF, and Escalations
- Quiz 4.2: Rent Structure, Base Rent, PSF, and Escalations
- Lesson 4.3: Tenant Improvement Allowances and Free Rent
- Quiz 4.3: Tenant Improvement Allowances and Free Rent
- Lesson 4.4: Options, Rights, and Termination Provisions
- Quiz 4.4: Options, Rights, and Termination Provisions
- Lesson 4.5: Industrial Lease Length and Market Norms
- Quiz 4.5: Industrial Lease Length and Market Norms
Industrial Underwriting, NOI, Cap Rates, and Rent Comps
- Lesson 5.1: Net Operating Income, The Industrial Version
- Quiz 5.1: Net Operating Income, The Industrial Version
- Lesson 5.2: Industrial Operating Expense Ratios
- Quiz 5.2: Industrial Operating Expense Ratios
- Lesson 5.3: Industrial Rent Comps, Finding Market Evidence
- Quiz 5.3: Industrial Rent Comps, Finding Market Evidence
- Lesson 5.4: Cap Rates, Industrial Market Context
- Quiz 5.4: Cap Rates, Industrial Market Context
- Lesson 5.5: The Quick-Look Underwriting Model
- Quiz 5.5: The Quick-Look Underwriting Model
Location, Last-Mile, and Market Dynamics
- Lesson 6.1: Why Location Drives Industrial Rents
- Quiz 6.1: Why Location Drives Industrial Rents
- Lesson 6.2: Infill Industrial and the Last-Mile Premium
- Quiz 6.2: Infill Industrial and the Last-Mile Premium
- Lesson 6.3: Industrial Vacancy and Absorption Dynamics
- Quiz 6.3: Industrial Vacancy and Absorption Dynamics
- Lesson 6.4: Reading the Industrial Supply Pipeline
- Quiz 6.4: Reading the Industrial Supply Pipeline
- Lesson 6.5: Exurban vs. Infill, Choosing Your Location Strategy
- Quiz 6.5: Exurban vs. Infill, Choosing Your Location Strategy
Value-Add Industrial, Unlocking Upside
- Lesson 7.1: Recognizing Functional Obsolescence in Industrial Buildings
- Quiz 7.1: Recognizing Functional Obsolescence in Industrial Buildings
- Lesson 7.2: Dock Door Conversions and Loading Upgrades
- Quiz 7.2: Dock Door Conversions and Loading Upgrades
- Lesson 7.3: Power Upgrades and ESFR Sprinkler Installations
- Quiz 7.3: Power Upgrades and ESFR Sprinkler Installations
- Lesson 7.4: Lease-Up and Mark-to-Market Repositioning
- Quiz 7.4: Lease-Up and Mark-to-Market Repositioning
- Lesson 7.5: Underwriting Value-Add Industrial Returns
- Quiz 7.5: Underwriting Value-Add Industrial Returns
Capstone, Analyzing a Distribution Center Deal
- Lesson 8.1: Capstone Setup, Meet the Deal
- Quiz 8.1: Capstone Setup, Meet the Deal
- Lesson 8.2: Capstone Analysis, NOI and Market Validation
- Quiz 8.2: Capstone Analysis, NOI and Market Validation
- Lesson 8.3: Capstone Decision, Base Case vs. Downside
- Quiz 8.3: Capstone Decision, Base Case vs. Downside
- Lesson 8.4: The Pro Lens, How Experienced Investors Approach This Deal
- Quiz 8.4: The Pro Lens, How Experienced Investors Approach This Deal
- Lesson 8.q: Module 8 Review Quiz
The leases are simple and the income is steady, which is why institutions are chasing it. Learn to underwrite it before they price you out.
You read the physical building, size up tenants and what they need, work the lease structures, and run the numbers from rent comps to cap rate. Location and last-mile get their own module, because in industrial they set value.
Eight modules, 40 written lessons, 147 practice questions, and a graded final exam with a certificate. The capstone analyzes a distribution center. Self-paced, 12 months of access included.
Get into the asset class the big money is already buying.
Key Terms in This Course
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