As cities grow and economies change, business parks have become key locations for commerce, innovation, and employment. Business parks offer businesses a well-designed, flexible, professional facility to operate and succeed. There are many reasons why it is important to understand the relevance of business parks as an entrepreneur, investor, or as a city planner as part of today’s changing economy.

In this comprehensive guide, it is our aim to provide you with insight about business parks, the benefits of business parks, categories of business parks, location considerations for business parks, and how business parks fit into the local economy and the global economy.

What are Business Parks?

Business parks (known as office parks, commercial parks, etc.) have come to signify planned developments that contain multiple buildings for business all contained in a defined area. You will commonly see business parks on the outskirts of cities, or in areas adjacent to major highways. A business park offers companies the unique combination of outstanding accessibility, significant space and building features, and more cost-effective solutions for office space

Business parks offer:

• Greater office size,
• More parking,
• Landscaped environment,
• Future room to expand, and,
• Greater choices of building type (ie. warehouse, lab, office, etc)

Essentially, a business park allows you to create a more efficient business ecosystem where businesses can operate together away from the overcrowded urban condition.

Business Parks come in many varieties

Not all business parks are alike. Given the intended industry and purpose there are several different types of business parks, each of which is designed for specific circumstances.

1. Technology Business Parks
These parks are typically home to IT companies, software development firms, start-ups and R&D firms, as well as help facilitate training for future tech industry professionals and students). They generally have the following attributes:
• High speed internet
• Modern infrastructure
• Close proximity to universities, tech incubators

2. Industrial Business Parks
These parks are designed for light manufacturing, warehousing and logistics. Industrial business parks are all about access and functionality (e.g., being on transport routes). They typically have:
• Loading docks
• Larger units
• Limited office space
• Operational purpose is the primary focus

3. Mixed Use Business Parks
Mixed-use Business Parks are a combination of commercial offices, retail outlets and elements of residential units. The aim of mixed-use business parks is to create an ecosystem where professionals can work, eat and shop, without leaving the site.

4. Science and Innovation Parks
Science and Innovation parks are generally associated with academic institutions and host firms involved in the biotech, pharmaceutical, and engineering fields. The actual goal of these types of business parks is a little more nuanced – a focus on creation and support of innovation, while also encouraging academia engagement with private companies.

Advantages of Business Parks

There are many advantages to investing in or moving to business parks:

1. Cheaper Office Space
Although downtown spaces can be extortionately priced, office space in business parks would typically be lower in cost. Serious companies can rent larger squares at a lower price, limiting the overall cost of doing business.

2. Expansion and Flexibility
With growth comes opportunities for expansion, and these types of business parks will often have room for growth. If more square footage or a new unit is necessary, business parks are built to accommodate growth.

3. Lots of Parking and Access
In business parks, there are not parking problems you may encounter in urban centres. Business parks will generally have lots of parking available, lots of walks and are usually close to transportation links, both for your employees and your client’s or patrons.

4. Better Work Environment
Business parks have green space, landscaping, and are typically in quieter location in addition to business parks offering better productivity work space.

5. Our Job is to Network
Business parks have a number of businesses in a small area, offering more networking and possibilities for collaboration. It only makes sense that B2B companies gain partnerships from being located and working from these types of developments.

Things To Consider When Picking Business Parks

When choosing a business park for your company to work in, you want to make sure you have considered all of the important factors:

1. Location and access
You want to be sure the business park has easy access for your workforce, its clients, and its suppliers. Access to highways, airports and public transportation is a definite plus!

2. Infrastructure and amenities
You will want to check to see if the business park has adequate and modern amenities such as fiber-optic internet, conference rooms, food courts and security. These can all significantly enhance productivity and drive up employee satisfaction.

3. Zoning
Some business parks are held by zoning regulations. It is important to ensure your business type is allowed in the park’s zoning classification.

4. Long term development plan
Consider if the park has a vision for its future development plan. A well-thought-out business park will always have a number of phases and fresh options for modern upgrades.

Why Business Parks Compliment & Improve Economic Development

Business parks are significant contributors to local and national economies. They can attract domestic and foreign investment, develop jobs and opportunities, and prime innovation. Many municipalities help develop business parks by providing tax incentives, improving infrastructure and amenities, and accommodating zoning changes.

In numerous areas business parks have redeveloped areas that were underdeveloped, and transformed vacant land into business parks with new sectors of employment. These opportunities have been able to change the potential of the land use to benefit not just the business park, but also the public infrastructure and service utilization of neighboring areas.

SEO value for companies in business parks

Companies located within business parks also are financially benefitted by business park SEO in their marketing and advertising. Business parks are typically searched as a group and have high volumes of independent/different website searches by user-friendly search engines. When you add your business listing on the business parks directory of businesses or location information you can also include geotags or mentions of business park locations in blogs, articles, and other content marketing, these mentions will also generate local SEO advantages.

For example:

• We can be found in Northgate Business Park”
• “We serve clients from our office at Eastside Business Park”
  Users searching locally in their niche will find you, in addition to generating exposure and leads.

Business Parks Case Study: A Success

Consider a mid-sized tech startup that moved into a regional business park where the startup experienced within a year:

• A decrease in operating costs by 25%
• A greater level of employee satisfaction related to a better work-life balance
• New partnerships with businesses in the adjacent locality
• Easier access to government grants developed for business parks

This example highlights that business parks provide a more than a workplace – they provide a base for growth.

Future Trends in Business Parks

The idea of business parks continues to develop. Here are some trends in play:

1. Sustainability and green design
Business parks are increasingly developing LEED-certified buildings, renewable energy sources, and sustainably designed landscaping.

2. Smart Infrastructure
Business parks are implementing IoT (Internet of Things) capabilities to build smart lighting, monitor energy usage, and develop a data-driven approach to maintenance activity.

3. Remote Work-Compatible Spaces
Today, many business parks have flexible coworking spaces and hybrid work spaces as standard.

4. Ecosystem-based Development
Business park will be developed as part of broader “innovation districts” including spaces for living and learning.

Conclusion: Why Business Parks are the Future of Modern Workspaces

Whether you’re a small business owner that is searching for growth or a large corporation exploring operational efficiencies, business parks are well-poised to become your best option. Business parks offer many benefits including affordability, convenience, professional setting, and room to grow for business owners and new business models. They bring together modern business needs in one comprehensive package.

As urban spaces become more crowded and remote working trends shift workplace paradigms in how businesses and employees are working, the desirability of a well-located and thoughtfully designed business park will only improve. If you are considering your next office move, expansion, or investment, don’t miss considering the opportunities ahead in today’s business parks which are flourishing.