Finding the perfect retail lease space may seem a bit like being Tom Cruise in a Mission Impossible movie. Perfect is a nice goal, but is it attainable? Perhaps we should change the title of this article to read “Five Steps To Find The Best Retail Lease Space.” Yes, that is much more attainable in our professional opinion.
We are RDS Real Estate, serving the Greater Fort Worth area. We find industrial and commercial property for rent for business owners who are looking for the best. Call us at 817-439-3224 for more information.
Now, though, let’s look at those five steps when looking for outstanding retail space for lease.
Know what you really need in retail lease space
We do not say this to be disparaging, but rather to state a simple fact based on years of finding retail space for rent for business owners: far too many business owners don’t know what they really need for their business. They have a vague idea regarding size of the retail lease space. They have a vague idea what their retail store will look like after the set-up. But it’s all vague and it really lacks in specificity.
Make a list! Be as specific as you possibly can be. This is your wish list. This is the list of all the things you want which will make your retail business the absolute best it can be. You may not be able to get all of the things that are on your list, but it’s an important first step in helping you to choose from the many retail spaces available.
Hire a pro or don’t hire a pro?
Do you need a real estate broker or do you not when looking at retail lease properties? We believe you do? We believe navigating the tricky waters of commercial real estate takes a pro. With that being said, we believe you should shop around for that pro. Ask some of your friends in the business community for references of commercial real estate brokers. Find the best out there, because the best is worth their weight in gold. Their knowledge of the market is invaluable.
Look for that foot traffic
A retail business thrives on foot traffic and auto traffic. The name of your business will not be enough to draw customers in, not unless you are a one-of-a-kind business and people absolutely must have your product. Thus, you need a great location. Remember, also, that business trends change over time. A great location today may not be a great location five years from now, so know the trends of your local area.
Negotiate the terms of the lease
Pay not attention to anyone who says a commercial real estate lease is non-negotiable. All leases are negotiable, and either you, or your real estate broker, should negotiate the absolute best deal possible.
Think outside of the box
Great deals sometime come in weird packages. The traditional brick and mortar store might not be your best option. For instance, in Fort Worth, at a business park called Box Office Warehouse Suites, all of the retail lease space is made from refurbished shipping containers.
Be willing to think outside of the box.
A word about RDS Real Estate
RDS Real Estate is locally owned and operated, just Texans helping Texans, like it’s been done for hundreds of years. Give us a call and we will help you find the very best retail lease space.