Before you begin your search for retail space for lease, stop for a moment and learn what types of retail lease space you have available to you. Each type mentioned below has strong points; each has drawbacks; and how they affect your particular business may mean the difference between success and failure.
We are RDS Real Estate, serving the Greater Fort Worth area with outstanding industrial space and commercial property for rent. Call us at 817-439-3224 for more information.
Retail space for lease in a Mall.
The advantages of Mall retail space for lease.
Malls are great locations for a retail store, right? Well yes, they are, and for several reasons. First, the foot traffic passing by your store cannot be beat. From the time the Mall opens, to the time it closes, you have a steady stream of potential customers.
Second, being located in a Mall will cut down on your advertising costs. You do not need signage outside to draw people in; they are already in and it is quite easy for them to see your store.
Finally, the Mall is a community center so to speak, a cornerstone of any community, and your store will become associated with the mention of the Mall.
The cons of Mall retail stores.
As nice as Mall locations are, they come with drawbacks. Generally speaking, leases in Malls are higher than leases in most other locations in the city.
Secondly, you will have rules and regulations, set by the Mall management, to follow.
Finally, you will have immediate competition for the dollars you wish to attract, from the other stores in the Mall, and that competition will be steady daily, weekly, and monthly.
Shopping centers and retail space for rent
The pros of shopping centers and retail space for lease.
If a Mall does not interest you, perhaps a shopping center will. Usually the rent at shopping centers is lower than at a Mall. The drive-by traffic is outstanding, meaning your business will be quite visible from the road and from the parking lot. Rules and regulations are fewer than at the Mall, and most shopping centers are served by public transportation, a fact which should increase your foot traffic.
The cons of shopping centers.
Despite the public transportation there will be less foot traffic than in a Mall. Also, there is usually a lack of public facilities, like bathrooms, at shopping centers. Parking can be an issue if the shopping center parking lot is small, and finally your advertising will need to increase, especially for signage on the outside of your store.
Stand alone
The pros of stand-alone locations.
Free-standing retail buildings have their appeal, for sure. They usually cost less per square foot than the first two locations we mentioned. There are fewer regulations to follow. And competition is severely limited in the immediate area.
The cons of stand-alone locations.
On the flip side of the ledger, your marketing expenses are higher, zoning can be a problem, and there is a severe lack of foot traffic.
Downtown.
The pros of downtown retail space for lease.
Finally, we have downtown locations. In some cities, the downtown area is the hub of the city, meaning much of the traffic, and much of the foot traffic, can be counted on daily. Regarding tourists, this location is the best of the four to garner tourist dollars. And, all things being equal, there are fewer regulations in a downtown location.
The cons of downtown.
Having said all that, consider that, in some cities, the downtown area is dying, or has severely lost its appeal to the locals. Consider that the prices may be greatly inflated when compared to the return for your dollar. Simply put, some downtowns are not what they used to be; they provide a false-sense of value.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated. We cover Tarrant, Parker, and Johnson Counties with over three million square feet of industrial space for rent and commercial property for lease. Call us today no matter what your needs i.e. warehouse for rent, shop for rent, garage for rent, office space for rent . . . we have it all.