Showing posts with label NAI Rio Grande Valley. Show all posts
Showing posts with label NAI Rio Grande Valley. Show all posts

Monday, May 3, 2010

NAI RGV Launches New Web Site!




Hats off to the new NAI Rio Grande Valley Web Site! Check out NAI RGV's new look at http://www.nairgv.com/

NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development, property management and syndication firm serving the Rio Grande Valley and based in McAllen, Texas. Our mission is to transform real estate opportunities into profits for owners, users and investors.

NAI Rio Grande Valley advises it's customers and clients on how to maximize the value of their assets and utilize real estate to their long term advantage through comprehensive and strategic planning, execution and management.

NAI Rio Grande Valley professionals arrange the sale or lease of land, office, industrial and commercial real estate. We have a proven track record and have considerable expertise in envisioning how to convert raw land into revenues.

NAI Rio Grande Valley is also a service bureau for data gathering, research assistance, interpretation, and expert analysis on a variety of regional, economic and demographic issues. It seeks to provide an array of other services including market research, feasibility studies, project management, and real estate entitlements.

Because of our proximity to the Mexico border, close ties to the business community in Mexico and a proven understanding of the unique economics of the U.S. - Mexico border area, NAI Rio Grande Valley is able to provide services to both international and domestic clientele.

Tuesday, March 16, 2010

NAI Rio Grande Valley's own Mike Blum weighs in on the importance of border infrastructure and why it is crucial to the growth of McAllen/Reynosa

NAI Rio Grande Valley's own Mike Blum weighs in on the importance of border infrastructure and why it is crucial to the growth of McAllen/Reynosa
McAllen Economic Development Corporation

Building up the infrastructure between the Rio Grande Valley of Texas and Northern Mexico has long been a goal for citizens and public officials. Even with the recent opening of the Anazalduas International Bridge, the fastest growing area on the U.S.-Mexico border faces challenges, in part to the burgeoning population.

Mike Blum, former city planner for the City of McAllen and current partner and managing broker for NAI Rio Grande Valley offered his insight and opinion on “Building Up Border Infrastructure.”

Click here to hear the full report from the Ron Whitlock Reports show.

Tuesday, February 2, 2010

NAI Rio Grande Valley attends DEAL MAKER breakfast in Reynosa, MX

NAI Rio Grande Valley attends the DEAL MAKER breakfast in Reynosa, MX.

NAI Rio Grande Valley, NAI RGV, crossed the new Anzalduas Bridge recently to attend the first DEAL MAKER meeting of 2010.

The organizer of the DEAL MAKERS, Lamar Lawson, describes it as "an informal group of agents and owners of industrial properties in the McAllen MSA that have a cooperative interest in the industrial activity. We track the market activity in the industrial market-typically from 20,000sf-above—which benefits all involved when talking to banks, prospects and others that have an interest in such. We meet as needed—about 3 times a year."

"The DEAL MAKER breakfast in Reynosa was a very strong success—and provided an excellent exchange of ideas and “views of the world” by all attending" according to Mike Blum, Partner & Managing Broker of NAI RGV.
 
For more information about the DEAL MAKERS and the industrial market contact:
Lamar Lawson
Lawson Commercial Realty, Inc.
956 330 3525
or
Mike Blum
NAI Rio Grande Valley
956 994 8900
NAI Rio Grande Valley here to help you with your commercial real estate needs...Around the corner or around the world! Tour our website today www.nairgv.com

NAI Rio Grande Valley Loves Getting Deals Done in 2010!

NAI Rio Grande Valley is getting deals done in 2010!

February:
6,000 SF of Office Space just leased in Pharr, TX | Agent: Roger Stolley  Represented: Landlord

January:
30,000 SF Retail Space leased in McAllen, TX | Agents: Mike Blum and Roger Stolley  Represented: Landlord

3 Acres Commercial Land acquired in McAllen, TX | Agent: Mike Blum  Represented: Buyer

2,600 SF Office Space leased in McAllen, TX | Agent: Roger Stolley and Lucy Sisniega   Represented: Landlord

2,500 SF Retail Space leased in McAllen, TX | Agent: Roger Stolley and Lucy Sisniega  Represented: Landlord

1,700 SF Office Space leased in San Antonio, TX | Agent: Carlos Molina  Represented: Landlord

6,000 SF Office Space sold in McAllen, TX | Agent: Roger Stolley  Represented: Seller

NAI Rio Grande Valley here to help you with your commercial real estate needs! Contact us today.
Tour Our Website   Click Here
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NAI Rio Grande Valley
1400 McColl, Suite 205
McAllen, TX 78501
956.994.8900
http://www.nairgv.com/

Sunday, January 31, 2010

NAI Rio Grande Valley Welcomes New Broker!

NAI Rio Grande Valley welcomes Laura Liza Paz to our NAI family


Laura Liza Paz
Realtor Associate
Commercial & Residential Specialist
956.994.8900 ext. 21

Michael Blum, Partner and Managing Broker is pleased to announce that Ms. Laura Liza Paz has joined the NAI Rio Grande Team. “We are really excited about Laura becoming part of our team,” Mike said. “She brings 16 years of Valley real estate experience and a terrific knowledge of the local market. Roger Stolley, another member of the firm, noted “Laura’s representation of both international and domestic clientele and her fluency in Spanish will be very beneficial to our relationships with investors and property owners on both sides of the border.”

Laura Liza Paz has 16 years experience in the Real Estate business. She brings a significant understanding to each transaction, matching the requirements of buyers and sellers to their investment objectives. She has a demonstrated commitment to deliver high quality service to clients, always putting their needs first, thus gaining their trust, confidence, and respect.

Laura Liza’s unique combination of comprehensive analysis, creative problem solving, and market knowledge sets her apart from her peers, allowing her the opportunity to offer her clients the insight and tools necessary to empower their strategic decision – making abilities.

Laura Liza affords you peace of mind in knowing, that you will always receive the highest quality service, her utmost sincere effort, seasoned intelligent direction, and skillful execution to facilitate the closing of each transaction in a timely manner, ultimately exceeding her client’s expectations in every transaction.

Click Here to View Broker Profile

Click Here to Contact Laura Liza Paz

Click Here to Take a Tour of our Website

Build on the power of our network.™

NAI Rio Grande Valley is part of NAI Global, one of the world's leading providers of commercial real estate services. NAI manages a network with 8,000 professionals and 375 offices in 55 countries worldwide. We bring together people and resources wherever needed to deliver outstanding results for our clients, and complete over $45 billion in transactions annually. Our clients come to us for our deep local knowledge. They build their businesses on the power of our global managed network.

Monday, January 11, 2010

2009…THIS WAS THE YEAR THAT WAS! Retail Sales in the Rio Grande Valley By: Mike Blum

2009…THIS WAS THE YEAR THAT WAS!
Retail Sales in the Rio Grande Valley


By: Mike Blum  
NAI Rio Grande Valley
Click Here for Full Report

Photo: Mike Blum, Broker and Managing Partner for NAI Rio Grande Valley

By the time you are reading this post, 2009 will be a far-away memory. Another decade has begun. And while we all hope for a better economy, more jobs, improved living conditions, and peace in the world, it is always good to reflect on where we have been so we can measure where we are going and how to manage things when we get there.

From a retail sales standpoint, 2009 was a fairly good year for the Rio Grande Valley. Retail sales tax collected in Valley cities exceeded $179 million as compared to $189 million in the previous year. While this was a 5.1% decline from the previous year, it reflects a still vibrant retail economy valley wide. These taxes were collected on roughly $10.3 billion in retail sales that are subject to tax.

The absorption of sales tax collections were materially different in 2009 vs 2008 as new store openings across the valley caused a shift in where sales occurred. For example:

• The City of Mercedes experienced a 6% increase in sales tax collections, a direct result of new store openings at the Chelsea Outlet Mall.

• The small community of Penitas had a 67% increase. A true reflection of the impact a new Super Wal-Mart store can have on a small community.

• The Shoppes at Rio Grande Valley in Edinburg has continued to add retailers attracting shoppers to its location.

• In 2010 the absorption of sales tax dollars is predicted to shift to Weslaco even more when the new JC Penny and Lowes stores’ sales tax are taken into account. This shift will mostly be felt in McAllen and Harlingen as customers will have a more convenient option to major retailers.

Declines in bridge crossings and housing starts, valley wide have also contributed to the 2009 decline in sales tax collections. However, with the opening of the Anzalduas International Bridge in McAllen/Mission future sales tax collections valley wide are predicted to increase. The new international bridge will reduce travel time for Mexico shoppers by 45 minutes and offers a more direct corridor that leads them directly to several shopping destinations with national tenants.

Now another way to appreciate the unique nature of the Valley’s retail economy is to understand how we compare with other markets. The following table shows the Sales and Use Tax Comparison Report for the top 20 Cities in Texas ranked by 2008 population.

McAllen, on its own, ranked 14th on the Report, 12th in Sales Tax Collections. More importantly, 3rd Per Capita and Per Household sales tax collections (total sales tax collected/total population or households). This confirms despite the current economy, Valley residents continue to spend on retail goods. Moreover, it reinforces just how crucial Mexico shoppers are to our economy...

Click Here to View Chart

McAllen MSA posts highest annual growth rate in 2009

McAllen-Edinburg-Mission, TX Ranks 12th in Farmers Insurance Group's Most Secure U.S. Places to Live for 2009

Rio Grande Valley Region better understood in Asia

Wednesday, December 9, 2009

Rio Grande Valley better understood in Asia than in other parts

Patridge: Rio Grande Valley better understood in Asia than in other parts of Texas

Picture: McAllen Economic Development Corporation President and CEO Keith Patridge. (File photo: RGG/Joey Gomez)

McALLEN, Dec. 8 - Industrialists and political leaders in China, Japan and South Korea often know more about the Rio Grande Valley than those in Houston, Dallas or Austin.

That’s the view of McAllen Economic Development Corporation President and CEO Keith Patridge.

“Every time I go to Austin or Dallas or Houston I am struck by how little people know about the Rio Grande Valley. They know less than many people in China or Japan or Korea. They think they know about us but when you ask them when they were last here they will say, ‘oh, I was there 20 or 30 years ago.’ All they think is, we’ve got a bunch of orange trees down here,” Patridge said.

Patridge said the MEDC held seminars in Japan and South Korea just over a month ago. “There was a lot of interest and as a result several companies are looking at major investments in the Valley. I can tell you, they know where McAllen, Texas is. They know more about us than our brethren in Austin or north Texas,” Patridge said.

Patridge made his comments in a wide-ranging interview about economic development along the border with the Guardian and Ron Whitlock Reports, KVEO-TV’s flagship political talk show that airs every Sunday morning.

Patridge mentioned the lack of knowledge many Texas business and political leaders have about the Valley in response to a question about the importance of the Valley Legislator Tours that are hosted every two years by the Rio Grande Valley Partnership. Last week, the Partnership’s legendary President and CEO, Bill Summers, passed away and concern has been raised as to whether the tours will continue without him.

“The Valley Legislator Tours are vital,” Patridge said. “The big thing these legislative visits allow us to do is change the perception of, oh, the poor Rio Grande Valley. The perception that we do not have anything; that we have the worst education and the worst unemployment; that we are simply coming to Austin with our hat in our hand wanting money because we are poor.”

Patridge said Summers was a visionary with a pure heart.

“Bill did not want to show the legislators how poor we are. He wanted to show them how dynamic we are and how quickly we are growing. He would tell them, we do not need money to take care of problems; we need money to take care of growth,” Patridge said. “The Legislator Tours are really critical. I wish we could get them all down here.”

State Rep. Armando “Mando” Martinez, D-Weslaco, agreed. Like Patridge, Martinez said Summers was an impossible act to follow.

“I have thought long and hard about this and clearly we have to cultivate Bill’s vision and ideas. We have to keep the regional approach that he preached. We need to do everything we can to keep going what Bill has put together. We need someone to replace Bill who is aggressive but with a personality like Bill’s who can work with others,” Martinez said.

One of the ideas Summers proposed long before most economic development leaders in the Valley was the creation of a Valley-wide Metropolitan Statistical Area, or MSA. Patridge said he was working on a proposal to take that idea one stage further and create a NAFTA MSA that would combine key statistical information on McAllen and Reynosa, or Brownsville and Matamoros. Right now, the United States and Mexico only recognize the population on their respective sides of the border.

“Can you imagine taking Austin, Texas, and saying, you cannot consider anything south of Town Lake? The people in Austin would say you are nuts. That is what they are doing to us when they do not include the population in Reynosa,” Patridge said.

Patridge said he has spoken with staff in the offices of U.S. Sens. Kay Bailey Hutchison and John Cornyn and U.S. Reps. Rubén Hinojosa and Henry Cuellar about his proposal. He said the response was favorable. He said he has also spoken to economic development officials in Arizona and California and they like the proposal too.

The vehicle through which the population statistics on both sides of the border could be obtained would be the North American Development Bank, which operates in both the U.S. and Mexico, Patridge said.

“NADBank is the perfect vehicle to fund the collection of that data. You would get a true snapshot of this region as an economic unit. We could then address ways of making sure this economic unit is successful,” Patridge said.

Patridge concluded by saying that, despite the recession, McAllen-Reynosa is on track to grow because of its central location and relatively low wage costs.

“Draw a line north of McAllen and you will find 80 percent of the people of the United States living east of that line. If you are producing products in Tijuana and your customers are 2,000 miles east and diesel is $5 a gallon, it just does not make sense. I believe McAllen-Reynosa is the Memphis of North America,” he said.

“Put it another way. Where else in the world do you have an instance where, on the north side you have the largest market in the world and on the south side some of the most competitive labor rates, $2.20 an hour, fully-fringed?”

Rio Grande Guardian

Ron Whitlock, of KVEO-TV's Ron Whitlock Reports, contributed to this story. The show airs every Sunday on Channel 23, immediately following Meet The Press.

Sunday, November 1, 2009

NAI RGV to Attend the ICSC Conference in San Antonio

ICSC Conference in San Antonio Novemebr 2-4 click here for more information.

Monday, October 5, 2009

Another Indication that the Rio Grande Valley is Weathering the Recession Better than Most of the Country

Another Indication that the Rio Grande Valley is Weathering the Recession Better than Most of the Country

McAllen credit rating upgraded
Standard and Poor's calls it the best in Rio Grande Valley

Nick Pipitone
The Monitor

McALLEN –- The city’s credit rating was recently upgraded by the financial services company Standard and Poor’s, another indication that the city and regional economy are weathering the recession better than most of the country.

S&P cited continued employment and population growth, an increasingly diversified economy, strong financial management policies and moderate overall debt levels as the primary reasons for upgrading the city’s rating two spots, from AA- to AA+, the second-highest possible rating, behind AAA.

Horacio Aldrete-Sanchez, S&P’s primary analyst on the McAllen rating, said the city has the highest rating in the Rio Grande Valley. It also brings the city in line with the state’s bigger metro areas and other mid-level U.S. metro areas S&P considers financially stable, like Knoxville, TN and Cincinnati, OH.

The city requested S&P re-visit their credit profile in August because they no longer had any outstanding debt bonds, which is what credit agencies usually rate, city Finance Director Jerry Dale said.

“I know the agencies have all been reviewing credit in light of what they’ve called the new international standards,” Dale said. “Because of that, I wanted them to look at the city to see where we were in comparison to others.”

The city will also be looking to issue approximately $14 million in debt to fund the new main library at North 23rd Street and Nolana, so will be soon accessing the credit markets again, Aldrete-Sanchez noted in the report S&P issued last month on the city’s new rating.

The higher credit rating is a “significant step” for the city, Aldrete-Sanchez said, and will mean a couple of things.

First, the city will be able to borrow money at a lower cost when looking to fund capital improvement projects, which could translate to savings of up to $1 million in the library bond transaction, City Manager Mike Perez said.

For residents, those savings should help the city keep its tax rates and utility fees low, Dale said.

The higher rating also can be used as a recruiting tool to draw companies looking to relocate.

“When (companies) look at a community, it’s important to them that it’s well-run, stable and tends to be pro-business, or at least not anti-business,” said Keith Patridge, president of the McAllen Economic Development Corporation. “To increase the credit rating for the city, it very clearly through a third party demonstrates that McAllen hits all three.”

The credibility of financial research and analysis companies like S&P and Moody’s took a hit during the economic meltdown last fall. Both agencies had several of the sub prime loans and bonds that contributed to the financial collapse rated high, sometimes at AAA. But the agencies’ track record on local government and municipal bonds is better, and most investors still look to them, said Ansley Chua, finance professor at the University of Texas Pan-American.

“People still trust them,” Chua said. “We basically have nobody else to grade them, so we kind of have to trust somebody.”

Dale said the city has been working to improve its credit profile for several years and reverse the misperception held by many investors that the Rio Grande Valley was “a collection of dusty little towns with no economic development and everybody starving to death.”

Since 1982, the city’s rating has improved from A-plus to AA-minus in 2004, to its AA-plus rating today.



Thursday, September 17, 2009

Development Boost Along Expressway 83 | Jackson Triangle McAllen, TX | NAI Rio Grande Valley

Development Boost Along Expressway 83
By Elizabeth C. Martinez
Valley Business Report

As economic pressures seem to be easing in certain parts of the country, phone calls from individuals making inquiries about retail and office space in McAllen has increased recently, according to Mike Blum, partner and managing broker for NAI Rio Grande Valley.

“In the past few weeks there have been more calls and showings of property for office and retail space,” Blum related. “The properties that people show most interest in McAllen are on North 10th Street, the downtown area, and especially along Expressway 83.”

One commercial retail plaza that has been constantly improving is Jackson Triangle, which is located on the Northwest corner of the intersection of Expressway 83 and Jackson Road in McAllen. The property will consist of approximately 37,800 square feet of retail space. The first of the Jackson Triangle tenants included Taco Cabana and AT&T. Since then, Baskin Robbins and Pay-N-Trade have joined them. Most recently, a sign for Cabrito Grill Steaks and Piano Bar went up.

Some of the most important things that businesses think about when choosing a retail of office space include: Is the location an ideal spot? Is there traffic in the area? And is it the right price?

Pedro G. Ayala, president of PGA Studio, Inc. a McAllen-based architecture firm, thinks about these questions when he signs on to work on a project.

“As a design principal for the firm, I feel I have a responsibility to create spaces that are going to be right for the occupants as well as their consumers,” Ayala explained.

“When it comes to building a retail environment, we always think about not only accomplishing the owner’s goals such as maximizing the site and cost constraints, and creating an attractive façade for the community and not turning it’s back on a major street as seen in other Big Box Retail Zones.”

Ed Alvarado, AIA, who worked on the Jackson Triangle project with Ayala, noted that the area is exposed to over 170,000 vehicles per day. Because of its unique triangular shape, doors face the bordering streets, thus creating the most storefront for the owner and the tenant. Not bad, for businesses who seek visibility.

Given the positive signs commercial real estate is beginning to move in the Upper Valley, there still remains to be a heighten focus on falling rent prices and the increasing number of defaults on commercial real estate loans.


Elizabeth C. Martinez is a partner in the public relations firm of Media Morphosis phone (956) 821-8662. Martinez served as Managing Editor and General Manager of The Business Times

Two U.S. Companies Shifting Production to McAllen, TX Border Town, Reynosa, MX | NAI Rio Grande Valley

Kohler sinks U.S. plant, expands in Reynosa
September 16, 2009 11:23 PM

By Sean Gaffney
McALLEN — Two U.S. companies announced plans this week to shift production to factories in Reynosa, bolstering unemployment in a maquiladora industry assailed by a global downturn in manufacturing.
On Monday, Kohler Co. said it will shutter a U.S. plant and fold production of stainless steel sinks into its Reynosa facility. On Wednesday, Steelcase, an office furniture manufacturer, said it will open a new facility to build chairs in early 2010.

Grand Rapids, Mich.-based Steelcase said it was unsure how many jobs the new facility would create.

Kohler said the expansion of its factory in Reynosa will not create new jobs. The company will rehire workers that had been laid off. Kohler declined to say how many jobs have been cut this recession.

With the downturn in housing, demand for sinks manufactured at Kohler’s Searcy, Ark., facility had fallen and the company had to fuse production with the factory in Reynosa, Todd Weber, a vice president for the Kohler, Wis.-based manufacturer said.

“Both of our plants are underutilized,” he added. Kohler expects to close the Searcy facility by the end of the year.

Steelcase expects to launch production at its new factory in early 2010, said Jeanine Holquist, a company official. None of the company’s other factories will be closed and no workers will be laid off, she added.

“We were looking for a place to consolidate our chair production,” Holquist said. “It gave us a great location to serve customers across North America and it helps us to control shipping cost as well.”

Kohler and Steelcase are the latest major manufacturers this summer to announce expansion in Reynosa. LG Electronics said in July that it was folding production at a plant just across the border from California into its Reynosa maquiladora. The South Korean manufacturer said it expects to create 1,200 jobs with the shift which is expected to finish this month.

A global downturn in manufacturing has slammed Reynosa’s maquiladoras this year, contributing to a 5.3 percent decline in employment. Analysts have said the job loss is slowing and that manufacturing in Reynosa should begin recovering by 2010.

Often, new employment in Reynosa comes at the cost of domestic manufacturing jobs. At the Searcy, Ark. plant, which famously weathered a strike that lasted from December 2006 to November 2007, the majority of Kohler’s 57 employees will lose their jobs the day before Thanksgiving.

Buck Layne, president of the Searcy Regional Chamber of Commerce, said that while the city was disappointed to lose the factory, the area has actually added jobs in recent months that could help mitigate the loss. The factory, which opened in 1966, once employed more than 400 people, Layne said.

The Reynosa plant, the other facility which manufactures sinks, opened in 2002 when the “housing market was thriving (and) demand for stainless steel sinks was equally robust,” the company said in a press release.

The recent economic revitalization in Searcy, a city with a population of about 20,000, has been led by natural gas companies, which have added about 2,000 jobs in the last 18 months, Layne said.

“It’s a global economy these days, but we need to make sure that we’re playing on an even field,” Layne said. “It’s just very discouraging to see jobs leaving the U.S.”

Sean Gaffney covers business, the economy and general assignments for The Monitor. He can be reached at (956) 683-443

Tuesday, September 15, 2009

McAllen, TX Continues to be Recognized Nationally for Enduring the Storm in the Mist of Bad News




The economy is no longer in a freefall but that hasn’t stopped three metropolitan areas in the Tampa Bay region to be included among the 20 weakest performing areas in the country.

A new report from the Brookings Institution shows that Tampa-St. Petersburg, Bradenton-Sarasota and Lakeland are among 20 metro areas that combined have sustained an average employment decline of 8.2 percent and an average home price drop of 11 percent over the last year. They join five other Florida metros: Cape Coral, Jacksonville, Miami, Orlando and Palm Bay.

Bradenton-Sarasota is 12.5 percent below its peak employment levels before the start of the current recession, worse than the 7.3 percent fall from Tampa-St. Petersburg and 4.1 percent drop from the country as a whole. Florida dominates the list of metro areas experiencing the largest job losses from their peak, joining Ohio and California.

The Tampa, Bradenton and Lakeland metros, however, are losing jobs at a slower rate in the second quarter than they did in the first quarter, a statistic Miami and Palm Bay can’t latch on to since their job losses were greater in the second quarter than in the first quarter. Only Akron, Ohio; Buffalo, N.Y., Columbia, S.C.; Madison, Wis., and McAllen, Texas, gained jobs in the second quarter of 2009 compared with the first quarter.
Housing prices played a big role in the report’s results. Florida metros make up nearly half the bottom 15 in year-over-year house price index changes.
Tampa metro prices were down 11.4 percent compared to the second quarter of 2008. Bradenton metro prices were down 14 percent.

Miami-Fort Lauderdale had the biggest drop of all the metros in Florida with a 19.3 percent decline, but none could top Las Vegas, where home prices have fallen 24.4 percent over the last year.

The number of bank-owned properties, or REOs, per 1,000 mortgageable properties between March and June rose in most Florida metros, but Bradenton led the nation in reducing its number of REOs by 0.43 percent. Cape Coral-Fort Myers, on the other hand, had the worst change among the top metros, gaining 2.88 percent in REOs.

The quarterly MetroMonitor study from Brookings is designed to peek “beneath the hood” of national economic statistics to portray the varied metropolitan landscape of recession and recovery across the country, a release said. MetroMonitor tracks employment, gross metropolitan product, housing prices and REOs as a basis for its conclusions and covers any metro area that had at least 500,000 residents in 2007, which collectively contain two-thirds of the nation’s jobs and generate three-quarters of GDP.

Thursday, September 10, 2009

Why should I locate my business in a business park? | 495 Commerce Center McAllen, TX in the Rio Grande Valley | NAI Rio Grande Valley



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.