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Commercial real estate describes property used to generate a profit, like industrial property, office buildings, apartments and hotels.
Traditionally, investing in commercial real estate is an alternative asset – a type of asset that’s not considered part of an investment portfolio. It’s provided countless investors with portfolio diversification and attractive risk adjusted returns. But some investors may not understand how investing in commercial real estate works.
There are key differences in investing in alternative assets and traditional investments, like stocks and bonds. Traditional investments are traded on a secondary market, while commercial real estate is considered a scarce resource with intrinsic value as a hard asset. Investors often purchase stocks for their upside potential rather than as a source of income. Another key difference between real estate and traditional investments is the concept of liquidity. Liquidity refers to the ease with which an investment can be converted into cash. Stocks and bonds would be considered highly liquid assets, whereas real estate has relatively low liquidity. Some investors choose to purchase shares of real estate investment trusts, or REITS, which allow for the financial benefits of property returns with the liquidity benefit of stocks or bonds. Additionally, real estate can offer tax benefits that other investment types may not.
In the greater Columbus area, winter can pose a significant problem not just to comfort, but to business efficiency as well. A properly winterized commercial property ensures the comfort of your visitors and employees, and it’s a safer environment, too.
Follow these five tips to prepare your business for winter.
- Ensure that your property has been “winterized” : Shut off all exterior hose bibs, ensure that all doors have weatherstripping in place and locking and closing mechanisms are working properly, check and repair window seals, exterior caulking and/or insulation, roofing, etc., make sure gutters have been cleaned and sealed, service HVAC equipment, adjust temperature controls in occupied and vacant areas, make sure leaves are cleared from the property exterior, and provide your snow removal contractor with a clear scope, schedule, and directions to ensure that everyone’s expectations are met. Make sure you have inspected and repaired anything that can be addressed prior to the start of the inclement weather, both to keep your tenants happy and keep your property operating smoothly and efficiently.
“The property at 140 Commerce Park Drive is a professional, single-story building with nine private offices and two conference rooms, as well as file storage and break rooms,” says Perry Smith, the DRK commercial real estate agent offering the listing.
With a total of 4,540 square feet available, private offices with approximately 200 square feet of space are also for rent.
The Westerville location – near North State Street and Polaris Parkway – offers easy access to Central Ohio via I-71 and I-270. The office building is conveniently located near retail, dining, and recreational activities.
DRK and Company is proudly leasing 110 Polaris Parkway to Westerville- and Columbus-area businesses.
“This commercial property is a 50,000 square-foot multi-tenant building on Polaris Parkway near Maxtown Crossing,” explains Perry Smith, the property’s leasing agent. The current tenants in this 3-story, professionally managed building include both medical and office space users, and the property is an excellent fit for both. Spacious common areas with warm decorating elements create an inviting and relaxing atmosphere.
“It’s minutes from I-71 and I-270, , and the central Westerville location makes it well-suited for businesses that need a convenient location for their clients to access,” Smith explains. Tenants can take advantage of countless amenities in the surrounding Polaris market, like restaurants, banking, hotels, retail and fitness. This building is also located just minutes from both Ohio Health’s Westerville facilities and Westerville’s Medical Mile, centered between these two areas.
The property at 110 Polaris Parkway is located in the greater Columbus region; with easy access to I-71 and I-270, Westerville is one of the most centrally located cities in the Midwest and is one of the fastest growing and most affluent cities in the area.
Although the property is only a 20-minute drive to every major metro area around Columbus, you’ll find exactly what you need in Westerville itself. A vibrant and diverse economy, access to local and well educated employees, excellent infrastructure, award winning schools, and a growing population continue to support Westerville’s healthy business climate. The City of Westerville’s Economic Development Department also offers attractive and competitive incentives to businesses looking to make the move to Westerville, or grow their current businesses in the city.
Enjoy municipally owned utilities, access to WeConnect, and business-friendly tax rates. Westerville is home to Otterbein University and 2 technical medical schools, and it’s just 15 miles from The Ohio State University. You’ll find a highly trained, nimble and skilled workforce for your expanding business, right in Westerville.
The property’s Tenant Improvement Allowances enable new tenants to create the perfect space for their business, without absorbing all the out of pocket expenses. The building management team provides excellent management of this process and communication throughout the time of lease execution through move in, and will continue to provide great service and maintenance after the move to 110 Polaris Parkway is complete.
Other building amenities include 24-hour electronic access control, an energy management system to keep utility costs low, full service management of property operations, in house maintenance staff, and ample parking.
Contact Perry Smith at 614.540.2404 with DRK and Company today for more information on leasing 110 Polaris Parkway in Westerville, Ohio!
The Columbus region, including Westerville, Ohio, is home to a variety of unique communities that are ideal for your business needs. These are the top 3 reasons you should rent your next commercial property in Westerville, OH.
1. Location, Location, Location
Westerville is one of the most centrally located cities in the Midwest. Located within 500 miles of over half of the populations in the U.S. and Canada, Westerville is also less than 200 miles from major cities like Cleveland, Cincinnati, Pittsburgh and Indianapolis.
It's ideally suited for commerce since it's only a 30-minute drive to every major metro area in the Columbus region. There are 4 convenient access points to Westerville – Polaris Parkway, South State Street, Sunbury Road and Cleveland Avenue. If you open up shop in Westerville, you'll be just 10 miles away from the Port Columbus International Airport.
2. Cost Savings
In Westerville, your business will have lower utility costs and faster response times because many utilities – water, electric and a high-speed network – are municipally owned and operated.
You'll also enjoy business-friendly tax rates when compared to other locations. The City of Westerville boasts a 2% income tax rate on a business' net profit, a lower tax rate than most communities in Ohio.
3. Improved Infrastructure and Educated Workforce
The Columbus region continues to expand, and infrastructure needs more attention than ever before. The City of Westerville and ODOT are working together to continually improve traffic pattern efficiency.
Westerville also boasts a nimble, technologically savvy, eager workforce to meet the needs of your contemporary business. The Columbus region is home to 59 colleges and universities with more than 136,000 enrolled students and 20,000 graduates each year.
In the heart of the city, you'll find Otterbein University, enabling your business to benefit from a pool of well-trained and diverse talent. And, just 15 miles away is Ohio State University, ranked #54 in the nation.
Also, there are 35 career and technical schools in the Columbus region, a huge manufacturing community that needs such skilled labor. Westerville itself is home to Hondros College and Bohecker College-Columbus, with programs ranging from nursing to medical business administration.
DRK and Company proudly offers commercial properties for rent in Westerville. Check out 110 Polaris Parkway today. This professionally maintained property is just minutes from I-70 and can accommodate professional offices of all kinds, including legal, financial, creative and medical. The surrounding Polaris market includes restaurants, banking, hotels and fitness, making the location ideal. Lease now before construction is completed and prices rise!
For a personal showing, contact us online or call us directly at 614-540-2404 to speak with a leasing agent.