Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications

Commercial strength not fading in Lexington

Al Isaac September 27, 2018
Share on Facebook Share on Twitter Share on LinkedIn Share via email

The Lexington, Kentucky, commercial real estate market continued to show strength during the first half of 2018. That strength should continue in 2019 with vacancy rates remaining low across multiple sectors, increasing demand in every category and strong demand for retail and industrial properties.

Lexington offers businesses a variety of viable locations. Hamburg and the Nicholasville Road corridor continue to be the area’s top two retail destinations. National retailers looking to enter the Lexington market require a presence in one if not both of them.

Lexington has recently added several new offerings to the market. Mixed-use developments such as the Summit at Fritz Farm, City Center (still under construction) and the Manchester Distillery District are evolving as destination areas for people throughout southern, eastern and central Kentucky, providing a curated mix of local and regionally sourced restaurants, retail shops, residential options and professional office space.

Live-work-play real estate development concepts are currently experiencing success in most markets. Developers bringing these concepts to Lexington are successfully attracting new businesses to the city, many of them nationally recognized retailers.

Technology Infrastructure improvements are playing a role in attracting businesses to Lexington. The city’s partnership with MetroNet and its plan to become the largest gigabit city in the country, providing ultrafast Internet, television and telephone service to all residents and businesses via fiber cables, has garnered national attention, and will help attract industry leaders to Lexington. The city continues to offer relatively low utility costs, making Lexington a very affordable place to do business and live.

The office market in Lexington remains stable with a mix of traditional office buildings, creative workspace concepts and co-working spaces designed to attract the next generation of business owners. These forward-looking concepts prove especially important as Lexington’s population is younger, on average, than either the rest of Kentucky or the United States.

The city is also experiencing an increase in the development of commercial land located on the city’s periphery, including areas along Nicholasville Road, Leestown Road and Georgetown Road as commerce pushes outward toward Lexington’s neighboring cities. As more people commute to Lexington for work and recreation from neighboring communities, commercial developments will continue to trend along the major commuter corridors.

Lexington is a vibrant and attractive city with a high quality of life that offers an ever-evolving commercial real estate landscape to large and small businesses.

Lexington’s population growth serves to help support the growing and diverse commercial real estate markets. A few of Lexington’s recent rankings according to publications are:

#10 Best Large Real-Estate Markets, WalletHub

#9 Cities with the Most Diverse Industries, Business Facilities

#6 Economic Growth Potential of Mid-Sized Cities, Business Facilities

#4 Best-Run City in America, WalletHub

Al Isaac is president of Lexington’s NAI Isaac.

Tags
Al IsaacFritz FarmKentuckyLexingtonNAI Isaacretail
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
TexasCRE

Chelby Sanders joins Cresa

September 22, 2023
IllinoisIndustrial

Lee & Associates of Illinois acts as sole broker in full-building Des Plaines industrial lease

September 22, 2023
IllinoisCRE

Golub & Company honors Debbie Frank’s legacy with Buck-It Bash fundraiser

September 22, 2023
IndianaRetail

Marcus & Millichap brokers 12,268-square-foot CVS in Indianapolis

September 22, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com