Industrial Market Definitions

Market Segmentation

Segment Description
Market An aggregate of two or more industrial districts for the purposes of summing the inventory within a specified market.
Industrial District An aggregate of two or more municipal boundaries for the purposes of summing the inventory in those municipalities within a specified market. Most common divisions are Central, East, North, South, West.
Municipality Muncipal boundaries which determine zoning for industrial buildings.
Industrial Park An grouping of industrial buildings within a defined boundary in an area zoned and planned for the purpose of industrial development. These areas are most often located close to transport facilities, especially where more than one transport modes coincide: highways, railroads, airports, and ports.
Business Park An area of land in which multiple buildings are grouped together, with a mixture of commercial and light industrial, but not residential, uses.
Industrial Building A form of commercial property which contains space mainly designed to be used for industrial tenants who are involved in the manufacture, storage or distribution of component parts or finished products. Typically single storey structure with larger internal ceiling heights than an office building.
Industrial Type Classification of industrial buildings based on the municipal zoning which specifies allowable uses.
Industrial Building Type Classification of industrial buildings based on the characteristics of the property and type of occupancy.
Industrial Space The area contained within a property that is being used for industrial purposes, exclusive of any portion that is being used as office space.
Flex Space Space that can be occupied for a variety of options. Typically light industrial warehouses which can or have been converted to office space.