Industrial analysis, from market structure to property evidence
Original SpanVor work across logistics, small-bay and flex, development, tenants, capital markets, investment strategy, and the methods behind the data.
Featured SpanVor research
Field reports with the evidence attached
The current flagship series examines small-bay tenants, construction, underwriting, and public loan-tape performance. Broader industrial market and Supply/Demand work is organized through the same editorial taxonomy.
New CMBS report
Small-Bay Earns More Per Foot
The income-density premium is real. The expense line determines how much an owner keeps.
New tenant field report
Who Rents Small-Bay Industrial?
The work behind the bay doors—and what it changes about property, tenant, and capital underwriting.
Investor primer
Small-Bay Industrial: The Investor Primer
The thesis, supply constraints, physical utility, operating model, risks, and a practical diligence framework.
Construction report
Metal Is Not a Four-Letter Word
Why the photograph can receive a discount before anyone underwrites the frame, roof, or building system.
DFW Small-Bay Rents Change When You Cross I-30
An expanded August 2026 DFW industrial and flex availability snapshot shows a north-south divide in advertised small-bay supply and asking rents—and a more complicated opportunity south of I-30.
DFW Has 874 New Industrial and Small-Bay Projects in the Pipeline—566 Are Small-Bay
SpanVor’s expanded DFW review now identifies 874 industrial projects in the combined planned and under-development pipeline, including 566 confirmed or probable small-bay projects.
The Rent Is Not the Deal
Small-bay owners think in rent per square foot and NOI. Tenants think in total monthly cost. Here is how gross, NNN and creative lease structures can bridge the gap.
What America’s New Businesses Actually Do—and Which Ones Need a Bay
A Census-based look at the kinds of businesses America is forming—and which are likely, possible, or unlikely to need small-bay industrial space.
Small Bay’s Best Demand Driver Is Starting a Business
Business applications remain far above their pre-pandemic level. That matters for small-bay industrial—but not in the simplistic way most investors think.
Vacancy Is Measured in Square Feet. Tenants Shop in Suites.
Industrial vacancy measures empty square feet. Small-bay tenants search for usable suites, making suite mix more useful than a metro-wide vacancy rate.
The Yard Is Not Leftover Land
An industrial yard creates value only when its legal use, surface, access, circulation, drainage and security support the tenant's operation.
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