Also known as redundant properties, surplus properties are owned or leased, vacant, or operational buildings. For instance, a company may need to relocate an automotive manufacturing plant, shut down an outdated oil and gas refinery or consolidate operations. Surplus properties can expose an organization to enormous financial, social, reputational and political risk. With the industrial real estate market booming in western economies, there has rarely been a better time to dispose of surplus properties. To take advantage of these ideal market conditions, firms need to have right strategic approach.
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