Small-Bay Industrial: The Investor Primer
The full investment case: constrained supply, local demand, physical utility, operations, risk, and a disciplined underwriting framework.
Industrial market research
SpanVor's public research connects industrial markets, property inventory, tenant behavior, construction, development, and capital performance. Each report states its measured universe, sources, geography, and limitations.
Publication standard
A market publishes only after county totals reconcile, core-field coverage clears the stated floor, and every public trailhead passes redirect, duplicate, address, score, and geography checks.
Flagship reports
Start with why small-bay behaves differently, meet the businesses behind the doors, examine the construction, then see how the operating model performs inside public CMBS loan pools.
The full investment case: constrained supply, local demand, physical utility, operations, risk, and a disciplined underwriting framework.
A bay-by-bay look at the businesses behind the doors, the work they perform, and how tenant operating needs change property underwriting.
Why the metal-building discount can outrun the building risk—and how to separate a Good PEMB from one that is fixable or genuinely bad.
What public loan tapes reveal about income density, expense growth, debt coverage, and the operating work required to keep the small-bay premium.
Published briefs
These reports share one research contract but retain market-specific geography and analysis. They describe tracked property inventory—not listings, availability, vacancy, rents, or investment performance.
A parcel-level view of the buildings that make North Texas's fragmented industrial market: how many SpanVor tracks, how large they are, when they were built, and where the stock sits.
A public-record view of Greater Houston's distributed small-bay inventory: the measured building formats, vintage, county concentration, and real property records behind the market.
A live profile of the smaller industrial buildings distributed across Maricopa and Pinal counties: size, vintage, city-core concentration, and the records SpanVor can substantiate.
A live two-county profile of smaller industrial buildings across Los Angeles and Orange counties: measured size, building age, local concentration, and qualified public property records.
A live three-county profile of smaller industrial buildings across Hennepin, Ramsey, and Dakota counties: measured size, building age, local concentration, and qualified public property records.
A live three-county profile of smaller industrial buildings from Miami-Dade through Broward to Palm Beach: measured size, building age, local concentration, and qualified public property records.
A live four-county profile of smaller industrial buildings across Duval, Nassau, Clay, and St. Johns counties: measured size, building age, local concentration, and qualified public property records.
A live four-county profile of smaller industrial buildings across Hillsborough, Pinellas, Pasco, and Hernando counties: measured size, building age, local concentration, and qualified public property records.
A live six-county profile of smaller industrial buildings around San Antonio: measured size, building age, local concentration, and the public records SpanVor can substantiate.
A live public-record profile of smaller industrial buildings across Greater Boston: the measured formats, building vintages, county concentration, and qualified property records behind the market.
A live six-county view of smaller industrial buildings around Indianapolis: measured size, construction era, local concentration, and qualified public property records.
Research contract
The framework is reusable. The evidence gate is not optional.
01
Every headline, band, county share, and median uses the same state, county, industrial class, and duplicate predicate.
02
Missing building area and vintage stay missing. Coverage is disclosed and incomplete fields never enter a median.
03
County totals must equal the market total. Qualified property links must also fall inside authoritative county-derived bounds.
04
If the live snapshot times out or fails reconciliation, the market page returns a retriable server error instead of publishing zeros or partial facts.
From evidence to workflow