Traditionally relied on for expansive spaces zoned for manufacturing or heavy industrial use, industrial parks are gaining popularity as sites for more traditional office spaces.
The appeal of substantial infrastructure is combined with lower costs due to large blocks of land development. But a word of warning: industrial parks come with their own risks as well.
Knowing the pros and cons will help you decide whether an industrial park is a viable option for your company’s office space.
Industrial parks are often used for a variety of purposes. This variety leaves much room for negotiation when it comes to lease terms, as well as zoning requirements. It is also easier to convert an industrial space into manufacturing or retail space than it would be to convert other existing buildings that are zoned for other specific building purposes.
Industrial parks may lack the positive visual impression of a landscaped entrance and architecturally distinctive details. They often aren’t as pretty as the standard office park.
In addition to the lease, added fees may be required to pay maintenance fees for the entire industrial park (similar to condo fees for residential properties).
Shell buildings may require tenants to install their own plumbing, heating, electrical wiring and cooling systems, in addition to basic design upgrades like installing lighting fixtures.
Within comfortable commuting distance from Hampton Roads, Va., the Maple Commerce Park in Currituck County is an industrial park that offers 11 individual shovel-ready sites that range in size from 3.8 to 24.5 acres.
An ideal location for advance manufacturing, distribution and aviation businesses due to its proximity to Norfolk International Airport, Maple Commerce Park’s attractive forested setting and low local tax rates make it an appealing option for office space of all kinds.
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