For decades, industrial parks have quietly powered the American economy, providing space for manufacturing, warehousing, and logistics. But today, a dramatic transformation is underway. No longer just storage spaces or assembly lines, modern industrial parks are becoming hubs of innovation where entrepreneurial manufacturers are reimagining how products are designed, produced, and delivered.
At Phoenix Industrial Redevelopment (PIR), we’re witnessing firsthand how this new breed of industrial tenant is reshaping demand for small-bay, multi-tenant industrial properties—and how thoughtfully renovated industrial parks can fuel America’s next industrial revolution.
The New Era of Entrepreneurial Manufacturing
The old narrative of manufacturing as a slow-moving, low-margin industry is rapidly being replaced. A new wave of small and mid-sized manufacturers—what we call “entrepreneurial manufacturers”—is emerging across the country. These businesses are:
- Embracing advanced technologies like additive manufacturing, robotics, and AI-driven production
- Focusing on niche markets with highly customized products and rapid prototyping
- Requiring flexible, scalable spaces that can grow alongside evolving operations
- Leveraging local production to reduce lead times and respond to customer demands
Entrepreneurial manufacturers are diverse—ranging from specialty metal fabricators and prototype labs to tech-driven makers of consumer products. What unites them is a relentless focus on innovation, speed, and adaptability.
Industrial Parks: The New Innovation Ecosystem
Traditional industrial parks were designed to house static manufacturing operations or serve as pure storage space. That’s changing. Today’s industrial parks are becoming innovation ecosystems that:
Facilitate Collaboration
Modern small-bay industrial parks bring together diverse businesses under one roof, enabling cross-pollination of ideas. It’s not uncommon to see:
- A robotics startup leasing space next to a precision machine shop
- A 3D printing company collaborating with an industrial design firm
- Suppliers and fabricators forming local micro-supply chains
This clustering effect creates vibrant business communities where tenants share resources, solve technical challenges together, and often collaborate on new products.
Provide Flexibility
Entrepreneurial manufacturers thrive on agility. Industrial parks with:
- Modular unit configurations
- Expandable suites
- High power capacity
- Diverse loading options
allow tenants to scale their operations without relocating—a critical factor for growing businesses.
Offer Professional Management
Today’s tenants demand more than just square footage. They expect:
- Prompt response to maintenance issues
- Clean, well-maintained common areas
- Professional leasing practices
- Transparent operating costs
Industrial parks with consistent, professional management—like PIR’s Workspace Nation® properties—attract higher-quality tenants and foster longer-term occupancy.
The PIR Perspective: Creating Spaces for Innovation
At PIR, we purpose-renovate every property we acquire, transforming underperforming industrial parks into spaces ideally suited for entrepreneurial manufacturers. Typical upgrades include:
- Enhanced electrical infrastructure to support advanced manufacturing equipment
- Improved loading areas for efficient material handling
- Refreshed exterior and interior finishes to project a professional image
- Flexible demising options to accommodate varied tenant sizes
These improvements aren’t cosmetic—they’re strategic. They allow our tenants to innovate, expand, and respond quickly to changing market demands.
Why Entrepreneurs Choose Small-Bay Industrial Parks
Entrepreneurial manufacturers often start small—but they think big. Small-bay industrial parks are perfectly positioned to serve them because they offer:
- Appropriate Scale: Units of 1,000 to 5,000 square feet fit small firms without excessive overhead.
- Strategic Locations: Proximity to urban centers, talent pools, and transportation networks is critical for both production and delivery.
- Affordability: Costs remain significantly lower than newer, large-format industrial buildings.
- Speed to Occupancy: Renovated existing parks can often accommodate tenants far faster than new developments.
The result? Entrepreneurs gain the physical foundation they need to build businesses with freedom, purpose, and impact.
The Bigger Picture: Reindustrialization and Economic Growth
America is experiencing a profound industrial shift driven by reshoring, technological advancements, and evolving consumer expectations. Entrepreneurial manufacturers are at the forefront of this change, breathing new life into domestic manufacturing and local economies.
Industrial parks that support these innovators do more than generate rental income—they become engines of job creation, technology adoption, and regional economic resilience. Every successful small manufacturer contributes to revitalizing cities, strengthening supply chains, and reinforcing America’s industrial future.
Industrial Real Estate: An Investment in Innovation
For investors, the rise of entrepreneurial manufacturing represents a powerful tailwind for small-bay industrial properties. While large institutional players chase big-box logistics facilities, significant opportunity exists in the overlooked niche of small, multi-tenant parks serving innovative businesses. These properties:
- Provide diversified income streams from multiple tenants
- Benefit from tight market supply and strong tenant demand
- Capture rent growth driven by the needs of growing manufacturers
- Align with national trends in supply chain localization and technological adoption
Through PIR’s FixedFunds Program®, accredited investors can participate in this sector without the complexities of direct property ownership, benefiting from predictable returns and exposure to a sector poised for long-term growth.
Conclusion: The Future is Entrepreneurial
Industrial parks have always been places where things get made. But today, they’re becoming places where innovation happens. Entrepreneurial manufacturers are leading a renaissance in American industry—and they need modern, flexible, well-managed spaces to thrive.
At PIR, we believe the future of industrial real estate lies in supporting these innovators. By transforming outdated properties into hubs of entrepreneurial activity, we’re not just investing in buildings—we’re investing in the businesses that will shape the next chapter of American manufacturing.