HIGHLANDS RANCH, CO—Amid continued demand for warehouse and logistics space, industrial corporations may be sitting on a potential gold mine they have no plans to tap: disposing of surplus properties. In what it says is the first-ever global surplus property management benchmark report, consulting firm Arcadis recommends that companies make such plans—or give the plans higher priority than they receive at present.
“With the industrial real estate market booming in western economies and the availability of property diminishing, now is an excellent time to take advantage of disposing of surplus property,” said Arcadis SVP Mark Fenner. “By planning strategically, corporations realize major benefits such as higher profits, an optimized asset portfolio, reduced liabilities, healthier balance sheets and an improved public image.”
Arcadis says surplus industrial properties, ranging from manufacturing plants to idled service stations, typically remain dormant for an average of 18 to 20 years, “creating decades of potential risk exposure and cost. Why are they held for so long? Several reasons.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
