Finding The Right Site
The initial stage of developing a flex / industrial park is of utmost importance.. Whether your objective is to construct and lease or build for condominium sales, its is essential to have a comprehensive understanding of the immediate submarket. Analyzing trends, business income, tenant size, and the local pool of potential occupants are crucial factors in determining the direction for the business park. This strategic assessment ensures informed decision making and sets the foundation for a successful development.
Design / Build
The design and layout of the park is just as important as the location. In order to create an exceptional park, it is essential to prioritize efficiency while simultaneously establishing a distinctive brand identity that sets it apart from competitors. Additional, incorporating specific amenities like side storage, freestanding dock, or showroom retail can further enhance the park's appeal and functionality. All these factors can help drive rents while maintaining a waiting list.
Condo Or Lease?
Condo sales can provide a quicker and potentially higher return on investment compared to traditional lease and sale, however they can only achieved with certain demographics and area factors. Creating a successful park and ensuring all units are sold requires carful market research, strategic planning, targeted marketing, and a well-planned exit strategy.