10 Questions
What is the primary characteristic of a Special Purpose property?
It is a building designed for one specific purpose
What is an example of a Special Purpose property?
Hazardous waste facility
What is a characteristic of the layout of a Special Purpose property?
It is specific to the type of industry or specialized use
What type of location is a Special Purpose property often found in?
Outskirts or suburban area
What is often a feature of a Special Purpose property?
Greenspace or campus area
What is an example of a MyHive page that represents the Special Purpose industry?
Ivanhoe Cambridge
What is a characteristic of a Special Purpose property's marketability?
It has limited utility or marketability beyond its original use
What is the purpose of a Special Purpose property?
To serve a specific industry or use
What is a common feature of a Special Purpose property's building amenities?
Picnic area
What is the defining characteristic of a Special Purpose property?
It is built-to-suit
Study Notes
Retail
- Retail property is commercial real estate zoned and used for selling consumer goods and services.
- Characteristics: flexible configurations, ample parking, professional management, efficient space use, optimal traffic flow, bike racks/EV stations, public transport access, and attractive storefronts.
- Categories: Class A (high-caliber retailers, premium amenities, and high-traffic areas), Class B (good quality, moderate rental rates, and need of light renovations), and Class C (older properties, secondary locations, minimal amenities, and lowest rental rates).
Industrial
- Industrial real estate is intended to provide practical and efficient space to businesses that prioritize function over form.
- Characteristics: smaller percentage of building is office space, adjacent to transportation, open box, high ceilings, and multiple loading docks.
- Types: Manufacturing (conversion, fabrication, and/or assembly of raw materials), Storage and Distribution (storage and/or distribution of materials, goods, and merchandise), and Flex Space (designed to give flexibility to tenants).
Multi-Family / Residential
- Defined by properties specifically designed and built to accommodate living spaces for tenants.
- Characteristics: amenities and building features, layout (size and floor plan), design and aesthetics, outdoor space, rent prices, security and safety, location and accessibility, management, maintenance, and leasing.
- Categories: Class A (newer build, luxurious amenities, modern, premium location, and high-quality), Class B (older building, good quality, medium to average conditions, and rent), and Class C (dilapidated building, inconsistent occupancy, little to no amenities, poor management, and poor location).
Special Purpose (“Other”)
- A property that has limited utility/marketability other than for its original use, or is built-to-suit.
- Characteristics: building amenities, layout specific to type of industry/specialized use, greenspace/campus area, picnic area, and location (outskirts, suburban).
This quiz covers logos and properties related to the real estate industry, including Brookfield Properties and Allied.
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