Pre-requisite: Students will benefit from a working knowledge of the theory and application of the three approaches to value, in particular the income approach. Recommend BUSI 331 / CPD 131 or equivalent (e.g., Trading Services / real estate sales course).
This course provides an overview of industrial properties, with a focus on the identification and analysis of the site and building issues most relevant to their market evaluation. Lesson 1 introduces the characteristics of these types of property and their market. Lesson 2 focuses on how these physical characteristics contribute to a property’s market value. Case studies in Lesson 2 will emphasize valuation methods and the measurement of adjustments and market factors.
Course Outline
Foreword: Introduction to Professional Development Courses
Lesson 1: Industrial Construction
- Market Delineation: Regional, Area, and Neighbourhood Analysis
- Industrial Building Design
- Construction Considerations for Industrial Properties
- Building Systems and Additional Improvements
- Industrial Property Inspection and Analysis
- Environmental Issues with Industrial Properties
- Summary
- Review and Discussion Questions
- Appendix 1.1: Sample Industrial Inspection Guidelines
Lesson 2: Industrial Property Valuation
- Introduction to Industrial Valuation
- Zoning and Land Use Controls
- Highest and Best Use
- Valuation Approaches for Industrial Properties
- Case Study 1: Appraisal of an Industrial Property
- Case Study 2: Appraisal of a Strata Industrial Property
- Summary
- Review and Discussion Questions
Afterword
- The Final Quiz
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