Lexington, Kentucky is a consolidated city-county. The city merged with Fayette County, and is often designated as Lexington-Fayette. It has a population of over 325,813 residents as of 2017. It is the second largest city within Kentucky, and it is also the 60th largest city in the United States by population size. By the sheer amount of land, it is the 28th largest city in the nation, as well. The population continues to experience steady growth.
The city offers abundant wildlife and fertile soil, so it was long used as a site for various Native American tribes. It became a trade spot between the tribes and Europeans, but settlers did not pursue the area in large numbers until the end of the 18th century. In June 1775, Lexington was founded by European Americans. At the time, the land was considered to be within Virginia, as Kentucky would not become a state till seventeen years later. The name is derived from the Battles of Lexington and Concord in Massachusetts. After hearing of the colonists’ victory, the campsite was named Lexington to honor the triumph that had taken place.
Lexington boasts one of the most stable economies in the United States. The strength of the economy is due to the manufacturing, entrepreneurial support, and technology that benefits from the diverse and balanced business base. The city houses multiple Fortune 500 companies, which contribute sizable employment for the residents. Xerox, Lexmark International, IBM, and Lockheed-Martin are just a few of the large corporations located in Lexington. The unemployment rate in August 2015 was 3.7%, which is lower than similarly sized cities. Forbes magazine named Lexington as the fourth-best city for “Businesses and Careers” in 2011. The highest employer of the area is the University of Kentucky, as it employs roughly 14,000 people. The university is the ninth largest economic company for the state of Kentucky.
Lexington has the motto of being the “Horse Capital of the World.” The community has a passion for the horse racing industry, and as such, it plays a large role in the culture of the city. There is a vibrant array of events and arts available to the public. Opera Under the Stars showcases some of Central Kentucky’s best opera artists. In the heart of the city is the Pam Miller Downtown Arts Center, which features high-quality dance, music, theatre, visual arts, and new media arts. Lexington knows the importance of community involvement, so it offers many fun and interesting events for residents to enjoy.
NAI Isaac is the premier option for commercial and industrial real estate in Lexington, KY. We employ experts in all facets of real estate in order to deliver thriving, enduring results for clients. We are poised to successfully handle every real estate opportunity or challenge we face. We are a recipient of the esteemed Accredited Management Organization honor, which is awarded to firms who exemplify professionalism to maintain and further enhance the value of commercial real estate investments. We are located in Lexington, KY and proudly serve the surrounding area. Contact us today to discuss your commercial real estate options.