Truth be told, the 2020’s have not been kind to those owning retail lease space. Many small and medium-sized businesses have been forced to close. Many had to severely downsize. Still, many were pushed into the shadows and turned into home businesses.
Skies, however, are brighter for the future. The country is rebounding. Many people once again are employed and have disposable income to spend, and many business owners are once again thinking of expanding into a quality retail space for rent. This article, then, is written with an eye towards a brighter future. In this article, we will give you a few things to think about when looking for retail space for lease.
We are RDS Real Estate, serving the Greater Fort Worth area, and we invite you to call us at 817-439-3224 for all of your commercial and industrial property needs.
Look for population trends and growth trends
It is hard for the average business owner to spot trends when mired in the day-to-day business of doing business. One day looks like the next. Shifts in business volume are slight, at best. But there are trends in any community, and there are governmental agencies, namely the Planning Commission, whose job it is to keep track of growth in any community.
Let’s look at one example. In Fort Worth, if you were looking for the hub of economic activity back in 1990, you would only have to look at the downtown sector of this city to find the heart and soul. Not so in 2021, at the time of this article. Economic growth is markedly moving towards the Alliance Area of North Fort Worth. Any business owner, looking to capitalize on the trends of consumers, would do well to look to the Alliance Area, and in particular the Fort Worth Design District, where high-quality commercial property for rent and industrial properties for lease can be found at a fraction of the cost one would pay in the downtown sector of that city.
Look for, obviously, the best deal
You have many retail properties to choose from. This should be an obvious statement, but we will say it anyway: look for the best opportunity for your business. Leasing prices are not set in stone like the Ten Commandments. You have options. If ever there was a favorable leasing market in the U.S., the 2020’s presents that favorable situation.
Look for your own future growth
Take advantage of the favorable real estate market and look for commercial property for rent which will serve you well now and when your business grows. The absolute worst thing that can happen, other than going out of business, is to outgrow your retail lease and have to move to another location. With favorable prices now available, why not rent a space slightly larger than what you currently need. That way, your business can grow into the space.
A word about RDS Real Estate
RDS Real Estate is a locally owned and operated purveyor of quality retail properties for rent. Call us and ask us about the Fort Worth Design District, home to Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park.