Commercial real estate investors have a lot of options. They can specialize in multiple types of CRE, including office buildings. One type of office building that one might overlook is the business park. Are business parks obsolete? Will remote work and virtual service overshadow this form of real estate? Not at all! Here are several perks inherent to the business park.
What Is a Business Park?
Before getting into the benefits that it offers, let’s take a quick look at what it actually is. A business park is a tract of land that multiple businesses can use at once. If it is a particularly large company with multiple departments such as manufacturing and warehousing, a business park is the best answer for them as well.
Lower Land Cost
Although some business parks might be located in the center of a city, you will more likely find them on the outskirts of a city or town. Because they are outside of the center of commerce and action, the land costs relatively less, which is good news for investors.
Benefit of Location
Physical location is a primary reason why business parks are so lucrative. Businesses use location as a key part of their strategy to draw business their way. Near the city, multiple businesses may work together to draw customers to them from high traffic areas like airports, major highways, etc. With one large tract of land for one or more company, the site becomes a landmark as drivers go about their ways.
Benefit for Employment
Having one large plot of commercial land does not just draw customers, but people looking for work. In this day and age, employment opportunities are always welcome. One can say it takes a village to keep up a business park, from landscaping to property management to employment in the office.
The Feel of the Town
With its own land, separate from the rest of the community, business parks allow towns and cities to preserve their vibe. Historic landmarks, the lay of the town, and the same community you know and love can stay the same without the intrusion of a massive commercial development. If you think a business park can make a great addition to your portfolio, contact Clagett Enterprises!
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.