Troy, Illinois Commercial Real Estate 1 Listing

Troy, Illinois: A Premier Destination for Commercial Real Estate

Introduction

Troy, Illinois, is an emerging hub for commercial real estate (CRE), located in the southwestern part of the state. With a population of approximately 10,000 residents, Troy offers a unique blend of small-town charm and strategic economic positioning. The city's economy is bolstered by its proximity to major metropolitan areas like St. Louis, Missouri, and a diverse array of industry clusters, including logistics, manufacturing, and healthcare. This makes Troy an attractive location for various CRE asset types.

Economic and Industry Overview

Troy's economic landscape is shaped significantly by its logistics and manufacturing sectors. The city's advantageous location near major transportation routes supports a thriving industrial and distribution network. Logistics companies are among the key drivers of demand for industrial properties in the area. Additionally, the healthcare industry, led by regional medical centers, contributes to the demand for office and medical space. Troy is supported by regional economic development initiatives that encourage business growth and investment.

Strategic Location and Transportation Infrastructure

Troy is strategically positioned with access to major highways such as Interstates 55 and 70, making it a pivotal location for distribution and logistics operations. The city is also a short drive from the Lambert-St. Louis International Airport, providing convenient access for business travel and freight. The extensive rail network in the region further enhances Troy's logistical advantages. Illinois Department of Transportation provides more details on the infrastructure that supports Troy's economic activities.

Commercial Real Estate Inventory & Zoning

Troy's commercial real estate is characterized by several key submarkets, including industrial corridors and suburban office parks. The city's zoning policies are designed to promote balanced development, with areas designated for industrial, commercial, and mixed-use projects. The City of Troy's zoning map offers insight into these designations. The city also provides incentives for developers, including tax abatements and expedited permitting processes.

Major Employers and Institutions

Top employers in Troy include logistics companies, manufacturing firms, and healthcare providers. These organizations play a significant role in driving demand for commercial properties. While Troy does not host major universities, it benefits from the proximity to educational institutions in nearby cities, which contribute to a skilled labor pool. For more information, the City of Troy Business Directory offers a comprehensive list of local businesses and employers.

Notable Commercial Developments & Projects

Troy is witnessing several large-scale development projects, including mixed-use complexes and industrial parks that cater to the growing demand for modern commercial spaces. Public-private partnerships have been instrumental in facilitating these developments. The city is also home to designated Opportunity Zones, which provide tax incentives for investments in economically distressed areas. Additional details can be found on the City of Troy Planning Department website.

Building Permits, Planning, and Development Tools

For developers and investors, Troy offers a suite of tools and resources, including: - Building and Safety Department - Online Permitting Portal - Parcel Map Viewer/GIS - Planning Commission - Development Code PDF

Market Data & Economic Reports

Public data sets from sources like census.gov and the city's open data portal provide valuable insights into Troy's economic and demographic trends. Brevitas leverages AI-powered aggregation to offer comprehensive market data and insights, helping CRE professionals make informed decisions. Explore Brevitas-powered dashboards for detailed data on Troy's CRE market.

Why Use Brevitas for Troy, Illinois CRE?

Brevitas stands out as the premier platform for discovering CRE opportunities in Troy, Illinois. Our AI-driven tools provide: - Real-time market alerts - Smart property pages - Collaborative dealroom features

Exclusive features include: - Auto-generated listing pages - Email and landing page tools - Seamless integration with brokers and developers - Access to exclusive listings for premium exposure