What was once older and obsolete buildings have become redeveloped into Creative Industrial buildings. Many of these buildings go through extensive reconstruction to create, air, light, and brand new identities. Location is essential and the most creative buildings are in selected infill communities such as Oakland, Brooklyn, Dallas or Los Angeles. However, almost every city has industrial pockets, normally close to city centers, where Creative Industrial is taking hold fast.
Tenants include film and video production, creative agencies, music, web/internet production, media, design, apparel, and manufacturing of all sorts of new products. Hip restaurants, entertainment, walkability, outside spaces, public transportation, and nearby housing tend to be important location elements.
The economics are attractive. Normally the buildings that are purchased are rundown from years of neglect. Current owners are generally small companies or families that don’t have a lot of experience in the operation of industrial buildings. In other words, these properties lack modernization and clever buyers are able to improve the buildings to maximize creativity. Even simple improvements of natural light, skylights, landscaping, outdoor areas, interior refreshing, bathrooms and open offices will give these buildings new life for years to come.