Last-Mile Industrial
Last-mile industrial properties are small-bay and infill distribution facilities positioned to serve e-commerce and regional supply chains. These assets typically feature 18-24 foot clear heights, dock-high loading, flexible bay sizes, and locations near population centers. High demand from e-commerce and logistics tenants supports strong rent growth and low vacancy rates.
Prime infill locations near population centers and transportation hubs
Flexible bay configurations accommodating various tenant sizes
Strong tenant demand from e-commerce and logistics operators
Limited new supply in infill markets supporting rent growth
Focus Areas
- Dock-high infill warehouses
- Flex industrial with office overlays
- Cold storage and specialized logistics
Frequently Asked Questions
Why are last-mile industrial properties attractive for 1031 exchanges?
Last-mile industrial properties benefit from e-commerce growth and limited infill supply, supporting strong rent growth and low vacancy. These assets qualify as like-kind replacement property and offer investors exposure to a high-demand sector with favorable supply-demand dynamics. Lease terms are typically shorter (3-5 years) allowing for rent resets to market rates.
What physical characteristics should I prioritize in last-mile industrial?
Key features include 18-24 foot clear heights, dock-high loading (minimum 24 doors per 100,000 SF), flexible bay sizes (5,000-25,000 SF), adequate parking and truck maneuvering space, and proximity to major highways and population centers. We evaluate properties against these criteria and market standards.
How do you assess tenant credit for last-mile industrial properties?
We review tenant financials, operational history, lease guarantees, and business model sustainability. While many last-mile tenants are regional operators rather than national credit tenants, we assess their financial strength, market position, and lease renewal probability. We also evaluate lease terms and rent escalations to ensure income stability.
Can you identify last-mile industrial properties within my identification window?
Yes. We maintain relationships with industrial brokers and can quickly identify available last-mile properties matching your criteria. We provide property summaries, lease abstracts, and market analysis to support your identification letter. Given high demand, we recommend having backup options in your identification letter.
Related Property Types
45-Day and 180-Day Deadline Calculator
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Identification Rules Explained
Use this guide to determine how you will complete the identification letter. We prepare letter drafts, valuation support, and backup scenarios so your $Seattle, $WA exchange maintains compliance through day forty-five.
Three-Property Rule
Identify up to three properties of any value. We document pricing support, lender feedback, and compliance notes for each Seattle, WA asset so your intermediary accepts the letter without revisions.
200 Percent Rule
Identify more than three properties as long as combined fair market value stays below 200 percent of the relinquished property value. We track valuation evidence for every property to prove compliance.
95 Percent Rule
Identify any number of properties and close on at least 95 percent of the aggregate value. This strategy supports diversified portfolios and DST placements when executed with strict tracking.
We coordinate with your intermediary, CPA, and counsel, provide documentation, and maintain audit-ready files. We do not provide legal or tax advice.
Exchange Timeline Tracker
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Document sale terms, confirm intermediary wiring instructions, and deliver closing statements within twenty-four hours.
Keep your intermediary, CPA, attorney, and lenders updated on each milestone. We manage the project plan, but all compliance decisions remain with your licensed advisors.
Discuss Last-Mile Industrial
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