Light Industrial/Flexible Office Summary

While the market for light industrial of any significant size is suspect and likely inappropriate, the redevelopment plan could consider a multi-user flex office one story building in the northern end of the subject location.  As the name implies, flex space can accommodate a number of uses, for example, an advertising firm or printer, supply and distribution firms, repair businesses or assembly operations.  The market for such a structure is well established in this area, although financial feasibility will be limited by low prevailing rents for this type of space.  However, the market for flex space would not face the same pioneering challenges posed to those of retail and office and market rate residential. 

The types of small users also include special trade contractors, of which there is already a substantial cluster in a one-mile area of the subject location.  The one-mile radius business count identified 54 construction firms employing 243.  These businesses need to be centrally located to reach job sites in all directions.  Target companies also include publishers, printers, Internet Service Providers and data processing, some of which may fall within the definition of information technology and thereby qualify for benefits attached to the IT zone.

Click to view a summary Market Potential Matrix for the various types of uses we have explored for the Green and Commercial Center.