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The redevelopment and transformation of industrial land has become an important part of urban renewal in China. This study adopts a spatial perspective to investigate the transformation of industrial land in Shenzhen based on a set of reliable data of all urban redevelopment projects of industrial land from 2010 to 2018. Research shows that the development of the real estate market, local government’s strategic demand for upgrading industrial structure, and the policy objective of improving land use intensity are important factors that affect the industrial land transformation. Industrial land has decreased significantly in urban renewal. About 881.79 ha (76.82%) of industrial land has been transformed into commercial, residential, and new industrial spaces. The planned industrial space is mainly located in the central and western regions, while the new commercial and residential spaces are mainly located outside the Special Economic Zone (SEZ). Redevelopment of industrial land has also transferred a certain scale of land to local governments for providing public facilities with an uneven spatial distribution between SEZ and non-SEZ. Therefore, industrial land transformation has brought significant effects on the urban spatial structure of this city. The study concludes with an evaluation of current industrial land redevelopment activities and provides suggestions for sustainable land development in the future.
