Anne Frej - Business Park and Industrial Development Handbook

About ULI-the Urban Land Institute

ULI-the Urban Land Institute is a nonprofit education and research institute that is supported by its members. Its mission is to provide responsible leadership in the use of land in order to enhance the total environment.

ULI sponsors education programs and forums to encourage an open international exchange of ideas and sharing of experiences; initiates research that anticipates emerging land use trends and issues and proposes creative solutions based on that research; provides advisory services; and publishes a wide variety of materials to disseminate information on land use and development. Established in 1936, the Institute today has more than 17,000 members and associates from more than 60 countries representing the entire spectrum of the land use and development disciplines.

Richard M. Rosan
President

For more information about ULI and the resources that it offers related to business parks and a variety of other real estate and urban development issues, visit ULIs Web site at www.uli.org.

Cover photo: Stockley Park. Andrew Putler, Photography/Courtesy Arup Associates.

Project Staff

Rachelle L. Levitt

Senior Vice President, Policy and Practice Publisher

Gayle Bereits

Vice President, Real Estate Development Practice

Anne Frej

Director, Office and Industrial Development

Jo Allen Gause

Senior Director, Residential Development

Nancy Stewart

Director, Book Program

Leslie Holst

Senior Associate

Barbara M. Fishel/Editech

Manuscript Editor

Libby Howland

Case Study Editor

Helene Y. Redmond/HYR Graphics

Book Design/Layout

Meg Batdorff

Cover Design

Diann Stanley-Austin

Director, Publishing Operations

Recommended bibliographic listing:

Frej, Anne, et al. Business Park and Industrial Development Handbook.
Washington, D.C.: ULI-the Urban Land Institute, 2001.

ULI Catalog Number: B30

International Standard Book Number: 0-87420-876-9

Library of Congress Control Number: 2001091816

Copyright 2001 by ULI-the Urban Land Institute

1025 Thomas Jefferson Street, N.W.

Suite 500 West

Washington, D.C. 20007-5201

Printed in the United States of America. All rights reserved. No part of this book may be reproduced in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, without written permis sion of the publisher.

Books in the ULI Development Handbook Series
(formerly Community Builders Handbook Series)

Downtown Development Handbook, Second Edition, 1992

Mixed-Use Development Handbook, 1987

Multifamily Housing Development Handbook, 2000

Office Development Handbook, Second Edition, 1998

Residential Development Handbook, Second Edition, 1990

Resort Development Handbook, 1997

Shopping Center Development Handbook, Third Edition, 1999

Authors

Project Director

Anne Frej

ULI-the Urban Land Institute

Washington, D.C.

Primary Contributing Authors

Marvin F. Christensen

Vice President

RREEF

San Francisco, California

William DElia

Principal

EDAW, Inc.

San Francisco, California

Mark J. Eppli, Ph.D.

Associate Professor of Finance and Real Estate

Department of Finance

The George Washington University

Washington, D.C.

Libby Howland

Writer/Editor

Takoma Park, Maryland

James R. Musbach

Managing Principal

Economic & Planning Systems, Inc.

Berkeley, California

Frank H. Spink

Principal

Spink Consultancy

Annandale, Virginia

Dorothy J. Verdon

Principal

Verdon Consulting

Alexandria, Virginia

ULI Advisory Committee

Luis Belmonte

Executive Vice President and Director of Development

AMB Property Corporation

San Francisco, California

Steve Chamberlin

Principal

Chamberlin Associates

Pleasanton, California

Mark Hassinger

Development Director

Lerner Enterprises

Dulles, Virginia

Tom Leiser

Senior Managing Director, Development Services

Trammell Crow Co.

Dallas, Texas

Irving Bud Lyons

President and CIO

ProLogis

Fremont, California

Willard G. Rouse III

Chairman, CEO, President

Liberty Property Trust

Malvern, Pennsylvania

Michael Tomasz

CEO

William Kritt Co.

Chicago, Illinois

Reviewers

Molly Badgett

Director of Corporate Communications

IDI

Atlanta, Georgia

Donna Batchelor

Vice President

Chamberlin Associates

Pleasanton, California

Richard C. Bernhardt

Executive Director

Metropolitan Nashville-Davidson County Planning Department

Nashville, Tennessee

James Bohar

Vice President

Colliers International

Oakland, California

Deborah L. Brett

President

Deborah L. Brett & Associates

Plainsboro, New Jersey

Brian Burrough

Managing Director

TKG International

Warsaw, Poland

Dell DeRevere

President

DeRevere & Associates

Newport Beach, California

Richard A. Donnally

Principal

Donnally, Lederer, Vujcic, L.L.C.

Gaithersburg, Maryland

Michael A. Elardo

Vice President/Principal

Colliers Pinkard

Columbia, Maryland

J. Richard Latini

Senior Vice President/Principal

Colliers Pinkard

Towson, Maryland

Karen Thorp

Vice President, Director of Training

Liberty Property Trust

Malvern, Pennsylvania

The ULI Foundation, as part of its commitment to support ULIs core research program, provides funding for the new and revised editions of the ULI Development Handbook Series. The Business Park and Industrial Development Handbook was funded in part by grants from the Foundation. The Urban Land Institute gratefully acknowledges these contributions.

The Business Park and Industrial Development Handbook is the result of a collaborative effort on the part of ULI staff members and practitioners in the field of industrial development. Although it is impossible to mention everyone who participated in this effort, a number of individuals and organizations deserve special acknowledgment and thanks.

Special recognition goes to the authors of chapters or major portions of chapters. Chris Christensen and James Musbach put considerable time and effort into the text and case studies for after in-depth research.

The individuals who reviewed the manuscript or portions of it deserve thanks for taking time from busy professional schedules to read the manuscript and make suggestions that improved the text. This real-life perspective is one of the factors that make ULI handbooks practical and usable. Luis Belmonte and Steve Chamberlin offered valuable insights from a developers point of view. Brian Burrough, Donna Batchelor, and Karen Thorp added a hands-on perspective to business park operations and management. Architects Rick Donnally and Dell DeRevere answered countless questions on issues ranging from roofing materials to zoning. Deborah Brett gave substantive comments on project feasibility more than once. Three real estate brokers specializing in industrial propertiesRick Latini, Mike Elardo, and Jim Boharoffered valuable insights into the marketing and leasing process. Molly Badgett served as a reviewer as well as a valuable source for photographs of industrial projects.