Capital Region commercial and industrial space often comes at a premium. But not in Fulton County where space is half the cost.
Paying high fees for renting or leasing building space can take a big chunk out of a budget. Don’t bite off more than you can chew. Commercial and industrial lease rates in Fulton County are less than half of those compared to New York State averages.
The average office rent per square foot in the Fulton County region is $7.15 versus $18.70 for the New York State average cost per square foot
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You have your business plan, your business name and all your legal paperwork done. You need a place to run your business and now it’s time to scout for a location. But the big question is where?
If you’re open to exploring a new territory, you might be surprised to learn that Fulton County, just west of Saratoga and Schenectady (and within an easy commute time of 24 minutes) has affordable space available in its downtown areas of Gloversville and Johnstown. Whether you’re starting your first business or looking to expand, there’s a place for you with a lot of potential. If you are worried about parking —don’t. There’s also ample free parking in the downtown areas and available sites have enough parking spaces so you don’t have to drive around for hours or fight for a spot.
Space is available in historic, grand buildings that feature distinctive architecture, 100 year old brick, and hardwood floors. Or, if your business needs larger space for warehousing, space is available in industrial-chic former textile mills and manufacturing buildings of all shapes and sizes, from modern industrial parks to old glove factories.
No.22 Bicycle Company moved its bicycle frame-building company to a former textile plant called the Johnstown Knitting Mill, outfitting 4,500 square feet in the 100,000-square-foot mill for production of its frames.
“There’s no shortage of nice space, and the rents are extremely affordable,” said Mike Smith, who founded No.22 with partner Bryce Gracey. “What we really loved about the Knitting Mill is the character of the space. It’s a beautiful building. There are hardwood floors and these big, beautiful windows. You can’t help it when you walk through there, you want to hatch an idea to be able to take advantage of it.”
In Schenectady, Saratoga, Albany and Troy, this kind of space usually comes at a premium. But in Fulton County, office / industrial / commercial land values and rents are highly competitive when compared to other regions in New York State. The average office rent per square foot in the Fulton County region is $7.15 versus $18.70 for the New York State average cost per square foot. That means you can get twice as much space for the same cost or save almost half the cost. Either way you look at it, that’s more money in your pocket. When starting out, a cost savings like this could give you the leg-up you need to really get your business off to a great start. Affordable space is available in Fulton County: The Capital Region’s New Frontier. It’s just waiting to be claimed.