Top 5 Things to Consider Before Leasing Office or Flex/R&D Space in Annapolis
Leasing office space in Annapolis, Maryland is more than just finding a place to work; it’s about making a strategic decision that can impact your business’s growth and success.
With a blend of historic charm and modern convenience, Annapolis offers diverse options from the bustling Annapolis Technology Park to the serene settings of downtown. Whether you’re a tech start-up, a healthcare provider, or part of the booming tourism industry, here’s what you need to consider.
Location and Accessibility
Location is crucial. Be sure to carefully consider proximity to potential clients, business partners, and employees. Also assess a location’s accessibility to local highways and regional thoroughfares, and the availability of free onsite parking.
St. John Properties owns and manages a variety of business communities in greater Annapolis area, including professional office suites, fully furnished turn-key offices, and flex/R&D spaces suitable for a wide variety of small to large businesses.
Annapolis Technology Park is located along Riva Road and Harry S. Truman Parkway. Its location offers easy access to the heart of Annapolis’ historic downtown as well as Route 50 and Interstate 97.
The business community also offers features onsite dining options as well as childcare facilities, banking and a 24-hour pharmacy, making the location convenient for customers and employees alike.
Size and Layout of Your Office Space
Determine the space you need based on your current team size and anticipated growth. Also, consider the layout of the space and whether it aligns with your operational needs. St. John Properties offers complementary space planning services to ensure spaces are efficient and catered specifically to your needs.
Flex/R&D:
St. John Properties’ signature flex/R&D buildings are highly customized to include any size combination of office and industrial space based on the users needs. These buildings are suitable for a wide array of businesses that could need both administrative areas alongside space for activities like light manufacturing, distribution or storage. Rt. 450 Business Park and 190 Admiral Cochrane Drive both offer versatile flex/R&D buildings with dock and drive-in loading, wide column spacing, and high ceilings and for maximum flexibility.
Single-Story Office:
St. John Properties’ single-story office buildings offer direct tenant access 24 hours a day, seven days a week. Annapolis Corporate Park and Annapolis Technology Park both offer single-story office buildings, inviting landscaping and plentiful free parking, making them the ideal home for a variety of business.
These buildings are ideal for businesses prioritizing ease of access, and offer free surface parking directly adjacent to the building.
Multi-Story Class ‘A’ Office:
Found at our 888 Bestgate Road and Annapolis Corporate Park business communities, multi-story Class ‘A’ office buildings provide a more traditional corporate environment, with striking lobbies and welcoming common areas. They are suitable for businesses looking for a professional setting, often with additional amenities like shared meeting rooms and tenant gyms, and are perfect for a corporate headquarters.
Each building type caters to different business needs, so considering your operational requirements is key when selecting an office space.
Local Market and Economic Conditions:
Annapolis has a comprehensive plan in place, focusing on healthy communities, economies, and environments. This plan looks ahead through 2040 and includes goals, strategies, performance measures, and targets.
The plan covers various aspects like land use, environment, transportation, and housing, all of which are integral to the city’s future economic development.
Such long-term planning is crucial for sustainable development and economic growth in Annapolis.
Additionally, Annapolis hosts a wide variety of industries from tech to health care and tourism.
- Professional, Scientific, & Technical Services: This employment sector is one of the most common for residents of Annapolis, with 2,626 people employed in this field.
- Public Administration: The public administration sector employs 2,253 people in Annapolis, reflecting the city’s status as the state capital and a hub for government activities.
- Health Care & Social Assistance: This sector employs 2,125 people in Annapolis, making it another significant contributor to the local employment landscape.
- Tourism: In Maryland, visitor spending grew by 42% from $11.6 billion in 2020 to $16.4 billion in 2021, indicating the strong recovery and significance of the tourism industry in the state, which includes the historic state capital of Annapolis.
- Retail Trade: Within the tourism of Annapolis, there is a significant presence of retail establishments and shopping centers in the city’s vibrant downtown area. These establishments contribute greatly to the local economy. Chances are, if your business falls into one of these categories, Annapolis is a good fit.
Takeaway
In conclusion, leasing office space in Annapolis requires a well-rounded approach that takes into account several critical factors. From selecting a strategic location with excellent accessibility to understanding the size and layout that best suits your business needs, each decision plays a crucial role in the future success of your venture.
The city’s diverse industry landscape, from professional services and public administration to healthcare, tourism, and retail, provides a fertile ground for a variety of businesses. By carefully evaluating these aspects, businesses can thrive at one of St. John Properties’ Annapolis area business communities, leveraging the area’s unique advantages for long-term success.
