Property Types

OFFICE BUILDING TYPES

  • Creative/Loft: Space within a building capable of being used as offices, but may not be built as typical offices. The space could have an unfinished ceiling or be in a warehouse building. Typically found in urban areas.

  • Office Building: A structure utilized for conducting business.

  • Institutional/Governmental: An Office building owned or primarily occupied by the government or large non-profit organization.

  • Medical Office: Buildings containing space designated for medical functions such as doctors' or dentists' medical labs or medical facilities.

  • Office-Business Park: Office-Business Park

  • Office-R&D: Single or multi-story buildings typically finished and air conditioned that contain office space used as wet or dry lab space, workshop, storage or other research and development activities. May contain dock-height or drive-in loading.

  • Office-Warehouse: A smaller warehouse building with 15% or more office.

  • Office Condo: Multi-unit office building in which ownership of the units is separately held by individual unit holders. One or more units can be entered for sale.

RETAIL BUILDING TYPES

  • Community Center: A string of stores offering a wider range of apparel, furniture and other soft goods than a neighborhood center. Common anchors include supermarkets, super drugstores and discount department stores. Other off-price retailers selling such items as apparel, home improvement/furnishings, toys, electronics or sporting goods may be tenants. The center is usually configured as a strip, and typical area is 100,000 to 350,000 square feet with two or more anchor tenants.

  • Convenience/Strip Center: A string of stores in a commercial area, totaling less than 30,000 square feet, without central leasing, management, or theme.

  • Specialty Center: A center composed of upscale apparel shops, boutiques and craft shops carrying selected fashion or unique merchandise of high quality and price. The physical design of the center is sophisticated, emphasizing a rich decor and high quality landscaping. These centers usually are found in high income trade areas. They are typically 80,000 to 250,000 square feet and have no dominant anchors.

  • Neighborhood Center: (including Community Center) a shopping center anchored by a supermarket and/or drugstore that provides convenience goods and services to a neighborhood. It is usually between 30,000 - 100,000 square feet, and draws from a one to three mile radius.

  • Outlet Center: A center located in rural or tourist areas, consisting primarily of manufacturers' outlet stores selling their brands at a discount. These centers are typically not anchored. A strip configuration is most common, although some are enclosed malls, and others can be arranged in a "village" cluster. Average center size is 50,000 to 400,000 square feet.

  • Power Center: A center dominated by several large anchors, including discount department stores, off-price stores, warehouse clubs, or "category killers," i.e., stores that offer tremendous selection in a particular merchandise category at low prices. The center typically consists of three or more freestanding (unconnected) anchors that occupy 75-90% of the total area and only a minimum amount of small specialty tenants. The center typically contains 250,000 to 600,000 square feet.

  • Regional Center/Mall: A shopping center providing general merchandise comparable to that available in a central business district in a small city, including apparel, home furnishings and services in full depth and variety. The main attractions are the anchors: traditional, mass merchant, full line department stores or fashion specialty stores that occupy 50 to 70 percent of the center. A typical regional center is enclosed with an inward orientation of the stores connected by a common walkway and perimeter parking. It is larger than 300,000 square feet and draws from an eight mile radius or more.

  • Super Regional Center: The super regional center / mall is similar to a regional center, but because of its larger size has more anchors, a deeper selection of merchandise and draws from a larger population base. The center provides an extensive variety of shopping goods comparable to those of the central business district of a major metropolitan area. The anchors are three or more full line department stores that account for 50 to 70 percent of the total area. Typical configuration is an enclosed multi-level building. The center's total area is typically in excess of 800,000 square feet.

  • Theme/Festival Center: These centers typically employ a unifying theme that is carried out by the individual shops in their architectural design and, to an extent, in their merchandise. The biggest appeal of these centers is to tourists; restaurants and entertainment facilities can anchor them. These centers, generally located in urban areas, tend to be adapted from older, sometimes historic, buildings, and can be part of mixed-use projects. They typically contain 80,000 to 250

  • Day Care Facility/Nursery: Daytime child-care center for pre-school age children.

  • Post Office: A government owned or leased facility for handling the transmission of mail. Restaurant: A place where meals are served to the public. Service Station/Gas Station: A building utilized for car services, such as a car mechanics and/or filling station.

  • Freestanding Building: An unattached building containing one business, rather than a row of stores or businesses with a common roof and sidewalls.

  • Street Retail: Storefront retail that derives significant sales from drive-by traffic. Property is not part of a shopping center but rather a part of an agglomeration of retail development along a commercial boulevard.

  • Vehicle Related: A retail-commercial property oriented towards the sale or servicing of vehicles and/or their accessories.

  • Other: All other retail-commercial-type properties.

  • Retail Pad: A free-standing retail building located on an out-parcel within a shopping center development. Retail pads generally enjoy superior street exposure.

  • Anchor: The major or prime tenant in a shopping center, building ect.

LAND TYPE

  • Agricultural-Undeveloped (land): Fallow farm land.

  • Industrial: Land used for industrial purposes such as factories or warehouses.

  • Multi-Family: Land for housing units for single buildings of multiple family units. Zoning ordinances commonly require special zoning classification for multifamily housing.

  • Office: Land for a structure utilized for conducting business.

  • Residential (Single-Family) (land): Land used for development of owner-occupied housing.

  • Retail (land): Land for a structure utilized for selling goods to consumers.

  • Retail-Pad (land): A finished out-parcel within a shopping center development. Pads generally enjoy superior street exposure.

  • Commercial/Other Land: Development and transitional land acquired for investment use: land for lots, site selection and assemblage of parcels.

MULTI-FAMILY TYPE

  • Garden/Low-Rise: A housing complex where some or all tenants have access to a lawn area, usually consisting of one to three floors.

  • Mid/High-Rise: A housing complex, usually an apartment or condominium complex that is four or more floors.

  • Government Subsidized: A housing complex created by the government that retains certain privileges not afforded to totally private entities.

  • Mobile Home/RV Community: A parcel of land zoned and developed for use by occupants of mobile homes.

  • Duplex/Triplex: Multifamily/apartment building with two, three or four units

INDUSTRIAL BUILDING TYPE

  • Flex Space: Buildings that may have 10- to 22-foot clear ceiling height with dock height and drive-in loading, and extra parking. These buildings may include a variation in space utilization, ranging from office and retail through distribution, light industrial and occasional heavy industrial uses. They are designed to allow conversion of industrial units to a high percentage of office space. Industrial-Business Park

  • Manufacturing: (also called Heavy Industrial) Auto making, textiles, steel, chemicals, and food processing are typical uses of such properties. Typically zero to five percent office space.

  • Office Showroom: Single story (or mezzanine) buildings with 10 to 16 foot clear ceiling height, frontage treatment on one side and dock height or drive-in loading on the other. These buildings usually contain less than 15 percent office space.

  • Research and Development (R&D): Facilities generally used in high technology markets, broadly defined to include wide variations in markets across the country. R & D properties could have lab facilities, offices, warehouse facilities, or services such as carpentry or machine repair. Typically, each property allows a variable combination of office and other uses. The percentage of office space ranges from 20 to 100 percent, depending on the market and individual needs of the user.

  • Self-Storage/Mini-Storage Facility: a building that provides personal storage for lease by consumers.

  • Truck Terminal/Hub/Transit Facility: A specialized warehouse designed for loading and unloading and short term storage of goods. A truck terminal contains an unusually high number of loading docks for its size enabling simultaneous loading and unloading of a high volume of goods.

  • Warehouse: A building used to receive and store goods and merchandise. In terms of classifying such property, warehouses are normally located in an area zoned for either commercial or industrial property.

  • Distribution Warehouse: (also called Light Industrial) Generally the least intense industrial use. Office use is limited to management tasks for the distribution or warehouse facility, or about 15 percent of total space.

  • Refrigerated/Cold Storage: Buildings containing refrigerator or freezer space within the warehouse for storage of goods with specific low temperature storage requirements.

SPECIAL PURPOSE TYPE

  • Other: All other special-purpose-type properties.

  • Marina: A boat basin that provides dockage and other services to pleasure craft

  • Religious: A church, temple, mosque, shrine or other house of worship

HOTEL/MOTEL TYPE

  • Economy/Limited Service: Economy Hotel - A lodging facility that can offer substantially lower rates due to high volume, lower initial investment costs, and efficient operations. Limited Service - Guestroom rental only with limited services available.

  • Full Service: A hotel/motel that provides full-service, (e.g., room service, valet, concierge, transportation and tour services, entertainment facilities, barber shop, bellhop service, laundry service, lounge, free continental breakfast, restaurant, turndown service, morning newspapers, fitness centers, banquet and meeting space, etc.).

AGRICULTURAL TYPE

  • Agribusiness: Land that encompasses all aspects of agricultural production, processing and distribution. This includes food, forest and fiber production, their byproduct utilization, agricultural chemicals and pharmaceuticals, agricultural finance and trade, agribusiness/farm management, agro-environmental considerations, and land development; all of the major elements essential to the establishment and operation of efficient agro food enterprises.

  • Pasture/Ranch: Land devoted to raising livestock under range conditions with forage grass as main source of feed.

  • Timberland: Land used for production of forest stands for commercial use.

  • Agricultural-Undeveloped: Land that has not been developed.

HEALTH CARE TYPE

  • Acute Care Hospital: Health care institution engaged in providing diagnostic and therapeutic services for medical diagnosis, treatment, and care.

CONTACT US

/ keep in touch

Westgate Commercial

1600 Westgate Circle Ste 100,

Brentwood, TN 37027

Phone. 615-376-4500

Fax. 615-376-4555

Email. david@westgatecommercial.com