Building to Suit the New Industrial Customer
Jeff Milanaik will join a panel of developers, investors and tenants for our popular “Shark Tank” session at I.CON ’16: Trends and Forecasts, June 9-10, in Jersey City, New Jersey. NAIOP had a chance to ask Milanaik, principal at Bridge Development Partners, LLC, about his perspectives on building design technologies, marketing tactics and investment considerations in advance of the meeting.
NAIOP: What are the new features and technologies that tenants look for in building design?
Milanaik: We find that tenants today are looking for buildings that have clear heights of 36 to 40 feet, efficient bay spacing and high overhead door and trailer parking (1 per 5,000 square feet of building area). Early Suppression Fast Response (ESFR) sprinkler systems and high-efficiency lighting are also a must.
NAIOP: How does an investor’s perspective differ, and what drives them – market, construction, location?
Milanaik: While every investor chases yield, their perspectives vary. Location is extremely important for everyone. However, environmental risk, building demo, and geotechnical measures for soil stabilization are a few of the items that make certain investors pass on deals.
NAIOP: How has marketing a property evolved and how will it continue to change?
Milanaik: The most efficient way to market properties today is through the use of electronic media. E-blast flyers, databases such as CoStar, and even social media are changing the way customers are presented properties. In the end however, one thing remains constant – the real estate business has more to do with personal relationships than bricks and mortar.
Attendees can connect with Milanaik and the rest of the accomplished panelists at I.CON ’16: Trends and Forecasts, June 9-10, in Jersey City, New Jersey. Don’t miss this critical industry event for the best in networking and education.
