Commerce Lexington Project Services
Commerce Lexington Inc. is a nonprofit, public-private economic development partnership representing the Bluegrass Region. Commerce Lexington is conveniently located in downtown Lexington.
The professional staff is prepared to help client companies through:
Information Dissemination – provides information required by the decision maker to evaluate the Bluegrass Region as a business location. Our research staff can provide detailed information, statistics, and demographics on various site selection factors for the client’s review.
Coordination of Community Efforts – acts as a single source of information for the entire region. Commerce Lexington has a vast network of community and regional contacts we can access for our clients. The Commerce Lexington team will work to address concerns or requests from our clients.
Coordination of Area Visits – prepares, coordinates and completes follow-up for prospect team visits. Commerce Lexington will schedule meetings and site visits with property representatives, area companies and service providers to offer a complete overview of the Bluegrass Region. Our team serves as the client’s single point of contact through the entire project life cycle.
Coordination of Incentives – coordinates state and local incentive packages. Our economic development team will identify which incentives are the best fit for prospect companies and assist them with the incentive process from beginning to end.
Confidentiality – Commerce Lexington’s staff is committed to prospect confidentiality. All conversations, phone calls and information will be held confidential by Commerce Lexington.
Real Estate Review
Commerce Lexington maintains a real estate inventory system for the nine county region and will provide detailed site and building information based upon project criteria.
The Bluegrass offers a variety of settings suitable for most types of business operations. The nine county area has both rural, small town, and urban locations. Interstate highways and/or multi-lane highways connect all of the municipalities in the metropolitan area. To search for available sites and buildings in our database, please click here. Our economic development team is also aware of “pocket” listings that may not be listed on websites. Please give us a call at (859) 254-4447 to learn more about the available buildings and sites in Central Kentucky.
Sites
Industrial and office sites are available throughout the Bluegrass Region. In order for a site to be included in the inventory system, it must be available for sale or lease and must have all utilities available. Asking prices for industrial property in the Bluegrass Region range from $25,000 to $275,000 per acre. Commerce Lexington will be pleased to provide detailed site information based on a project’s specific site requirement.
Industrial Buildings
The available building inventory in the Bluegrass Region varies periodically, but an inventory of light manufacturing and warehousing/distribution facilities is usually available. Commerce Lexington Inc. maintains a database of available industrial buildings of 5,000 square feet and larger for the nine county region. Industrial lease rates range from $1.95 per square foot for bulk warehouse space to $14.00 per square foot and beyond for high-tech R&D space. The vacancy rate for industrial buildings at year-end 2022 was 9.15%. *One building totaling 688,373 SF available represents 87% of the manufacturing vacancy. Without this one vacancy, the vacancy rate would be 2.95%.
Office Buildings
The majority of the Bluegrass Region’s Class A and B office space is in Lexington. There is approximately 12.7 million square feet of Class A and B office space in existence located throughout both the Central Business District and the suburbs. Asking lease rates typically range between $5.95 and $27.50 per square foot with an average of $18.00 per square foot. The vacancy rate for office buildings at year-end 2022 was 12.31%.
Licensing, Permits, and Development
Lexington-Fayette Urban County Government provides access to a wealth of resources to aid businesses moving to or expanding in Lexington. The Licensing, Permits, and Development resources located here help businesses navigate the location or expansion process by providing documents on everything from building permitting and licensing to surveys and zoning ordinances.
Contact us today!
This is by no means an exhaustive list of what our economic development team can provide to our clients! Contact us for more information about Lexington and how we can assist in making Lexington your new home! Contact Us
