When looking for a location for the life of your business considering a business park may be the way to go. Business Parks offer its residents flexibity, growth opportunities and development standards that ensure the value of their investment. To better understand the benefits of locating your business in a business park I have shared an excerpt from Business Park and Industrial Development Handbook by Anne Frej.
“The business parks of today are the product of an evolutionary process. From their antecedents in the manufacturing-oriented industrial estates and parks of the early 20th century, they have become dynamic workplace settings for business, incubators for new technologies, and employment centers that contribute to the economic life of many communities.
Flexibility is key to their success. Business parks not only accommodate a mix of activities such as storage, light manufacturing, research, and office functions, all in a planned and controlled setting; they also can be adapted in form and function to meet changes in the market. This attribute has been critical in recent years, as rapid technological innovation has created new requirements for the industrial sector. The growth of e-commerce and just-in-time distribution systems has led to the transformation of warehouses into sophisticated logistics centers. The need for flexible work spaces that can house office and industrial activities under one roof has resulted in new hybrid buildings known as flex space. The growth of employee-intensive operations such as call centers and data processing centers at business parks has increased population densities there and resulted in requirements for more parking and better on-site amenities and services.
For occupiers, business parks offer the capacity to grow and expand at the same location. With multiple buildings of different types, sizes, and prices to choose from, all in one business park, startup companies can bring operations in small-scale incubator space and eventually move to more prestigious headquarters without ever changing their operations, from high visibility corporate headquarters to inexpensive back-office or flex space. Leasing space, buying a facility, or having it built to specifications are also possible options for occupiers in modern multiphase business parks.
For developers, business parks offer flexibility as well. Despite business parks’ being long-term investments with large budgets because of their size and infrastructure requirements, developers have the benefit of deciding whether to sell unimproved land parcels or completed buildings in a business park. Risk is also minimized by the opportunity to phase development, relying on positive market conditions or formal lease or sale agreements before proceeding with construction. Many developers will not initiate a project until a formal commitment has been received to lease or buy a major portion of the project.
Communities reap potential benefits from business parks. In an era of increasing competition to attract new businesses and jobs, many governments see business parks as a tool to stimulate economic development. In some cases, the agreement is strong enough to warrant the public sector’s active participation in the formation of business parks and the provision of tax incentives or financing assistance to developers.” Read more
In most cases land or building space within a business park is going to come with a higher price tag. But when determining the right location for the life of your business it is important to consider the price verses your cost. Price is a one time thing, and usually cheaper on the on set, but cost is over the lifetime of your investment. A lot of locations can beat business parks on price, but very rarely can they beat on cost. Since cost is lifetime thing, don’t you want the best possible location for your investment?
495 Commerce Center in McAllen, TX located in the Rio Grande Valley is an excellent example of a business park development done right. The 110 acre master-planned business and professional community offers a strategic location in an ideal setting that has proven to be a sound investment. Two government agencies, call center, and several professional buildings already call 495 Commerce Center home. Take a video tour to see first hand what a true business park is all about.
“The business parks of today are the product of an evolutionary process. From their antecedents in the manufacturing-oriented industrial estates and parks of the early 20th century, they have become dynamic workplace settings for business, incubators for new technologies, and employment centers that contribute to the economic life of many communities.
Flexibility is key to their success. Business parks not only accommodate a mix of activities such as storage, light manufacturing, research, and office functions, all in a planned and controlled setting; they also can be adapted in form and function to meet changes in the market. This attribute has been critical in recent years, as rapid technological innovation has created new requirements for the industrial sector. The growth of e-commerce and just-in-time distribution systems has led to the transformation of warehouses into sophisticated logistics centers. The need for flexible work spaces that can house office and industrial activities under one roof has resulted in new hybrid buildings known as flex space. The growth of employee-intensive operations such as call centers and data processing centers at business parks has increased population densities there and resulted in requirements for more parking and better on-site amenities and services.
For occupiers, business parks offer the capacity to grow and expand at the same location. With multiple buildings of different types, sizes, and prices to choose from, all in one business park, startup companies can bring operations in small-scale incubator space and eventually move to more prestigious headquarters without ever changing their operations, from high visibility corporate headquarters to inexpensive back-office or flex space. Leasing space, buying a facility, or having it built to specifications are also possible options for occupiers in modern multiphase business parks.
For developers, business parks offer flexibility as well. Despite business parks’ being long-term investments with large budgets because of their size and infrastructure requirements, developers have the benefit of deciding whether to sell unimproved land parcels or completed buildings in a business park. Risk is also minimized by the opportunity to phase development, relying on positive market conditions or formal lease or sale agreements before proceeding with construction. Many developers will not initiate a project until a formal commitment has been received to lease or buy a major portion of the project.
Communities reap potential benefits from business parks. In an era of increasing competition to attract new businesses and jobs, many governments see business parks as a tool to stimulate economic development. In some cases, the agreement is strong enough to warrant the public sector’s active participation in the formation of business parks and the provision of tax incentives or financing assistance to developers.” Read more
In most cases land or building space within a business park is going to come with a higher price tag. But when determining the right location for the life of your business it is important to consider the price verses your cost. Price is a one time thing, and usually cheaper on the on set, but cost is over the lifetime of your investment. A lot of locations can beat business parks on price, but very rarely can they beat on cost. Since cost is lifetime thing, don’t you want the best possible location for your investment?
495 Commerce Center in McAllen, TX located in the Rio Grande Valley is an excellent example of a business park development done right. The 110 acre master-planned business and professional community offers a strategic location in an ideal setting that has proven to be a sound investment. Two government agencies, call center, and several professional buildings already call 495 Commerce Center home. Take a video tour to see first hand what a true business park is all about.
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