If you have any experience at all with commercial property for rent, or for that matter industrial property, you will have heard the old saying “Location, Location, Location” as the key to finding the perfect property for your needs. But why is location so important?
We will answer that question in this article by RDS Real Estate, locally owned and operated in Fort Worth, Texas. When it comes to commercial and industrial properties in the Fort Worth Metro area, nobody does it better than RDS. Call us at 817-439-3224 for more information.
Reasons why commercial property for rent location is important.
In condensed form, here are the reasons why location is so important when looking for affordable retail space for lease or office space for rent:
- Accessibility and Convenience: One of the primary reasons location is so crucial in commercial real estate market is accessibility.
- Visibility and Exposure: Visibility is a key factor for many commercial properties, especially retail.
- Economic Environment: The economic environment of a location significantly impacts commercial real estate.
- Demographics
Let’s take a closer look at each of these.
Let’s break it down for each of those reasons.
Accessibility and Convenience: If your company relies heavily on customers being able to drive to your physical location, then you need a location for commercial property for rent which is very easy to drive to. It needs to be a convenient location, along major roadways, with abundant parking, within a short distance of other major “destinations” for citizens.
Visibility and Exposure: Your location should be seen from traffic flow, and it should be easy for walk-in traffic. A shopping mall, strip mall, these locations are always along major roadways and they also offer large parking areas which allow customers to park and depart their vehicles to walk around while shopping.
Economic Environment: You can find the nicest commercial property for rent in the city, but if it is located in a dying section of the city, nobody will visit it. You want to be where the action is, and the economic action is in vital areas and not areas which are in decline. And, looking towards the future, where is the growth happening in your city? Stated another way, where will the hub of your city be located in five years? Ten?
Demographics: What is your target audience? Who are your normal customers? What are the demographics of that section of potential buyers? Female? 20-25 years of age? Upper scale economically? That demographic will inhabit and frequent a specific section of the city they live in, and that is where your commercial property should be.
Is it the same for industrial space?
The answer to this question is maybe yes, maybe no, and it depends upon the nature of your business. If you have no contact with paying customers, then a warehouse for rent, shop for rent, et al, really should be located in the best location for your economics i.e. best financial option. If shipping is a daily part of your business activities, obviously you will want great access to major roadways. Do you need to even be in the city limits? Prices are generally lower just outside a city, plus that often means you will not need a Certificate of Occupancy, a very important consideration.
A final word about RDS Real Estate.
RDS Real Estate can help you in choosing the very best location for your business, whether you need affordable retail space for rent, a small office space for lease, or a studio for rent with great walk-in potential. Call us today and take advantage of our “local” knowledge.