Vacant and abandoned industrial buildings are a symptom of urban decline linked to various problems. To adopt effective regenerating policies, a full understanding of vacancy is required. This paper presents a study where the extent and condition of the vacant industrial buildings located in four Portuguese municipalities were assessed. Results showed that 613 buildings located in urban areas and in industrial parks, occupying an area of 1.4 million square meters, were vacant. The research is helpful for adopting regenerative policies and for understanding general questions of the characteristics of industrial vacancy and policies that are used to address this problem.