In land and property markets, the term "industrial" can refer to a wide array of different properties. Still, it is mainly used to describe either a structure or a plot of land that is used for commercial or industrial purposes. An example of this can be a section of physical land that is (or was at one time) used primarily for manufacturing a certain good or service. Likewise, a building can be classified as industrial if it is (or was) intended for a similar use.
There are certain plots of land that will only allow commercial construction and are not able to accommodate residential housing. Generally, this land will be located in an industrial section of a city or town; away from common housing complexes. Although smaller plots are available, it is generally accepted that land allocated for industrial use will be comprised of acres, hectares or even square kilometres.
A building may also be interpreted as being of an industrial origin. It may be tooled to accommodate a certain industry or commercial sector. Also, former "industrial" complexes may instead be converted into apartments or other living spaces (such as many lofts in New York City).
From a real estate point of view, industrial property is some of the most valuable due to the fact that it will most likely attract larger businesses and corporations. However, the prices of land or existing buildings may decline substantially during times of economic duress or a protracted recession. This has been seen in recent times in many industrialized nations.