Let’s face a truth about retail lease space: It is not going down in price in the foreseeable future, not if we are talking about retail space for lease in a good area. Good properties are at a premium, and new construction cannot keep up with demand at this point in time.
However, in Fort Worth, and in a few other cities, there is light at the end of that price tunnel, and we will tell you about it in this article. We are RDS Real Estate, serving the Greater Fort Worth area with over two-million square feet of industrial and commercial property for rent. Call us at 817-439-3224 for more information.
Retail lease space and supply and demand.
What we described above is a perfect example of the effects of supply and demand on price. When the demand for a particular product (in this case, real estate) is high, and the supply is low, the price of that product will rise. We saw it over and over again during COVID. The supply chain of many products dried up, the demand remained high, and prices rose dramatically. We are still seeing that today (does anyone love Jiff Peanut Butter like I do?).
This is, of course, bad news for those looking for retail space for rent and, in particular, small business owners with small operating budgets. The good properties are priced out of their grasp, and that spells trouble in so many ways.
So, is there a solution? Do we simply wait until construction of new properties catches up with demand? That could be a very long wait.
Creative solutions for retail lease space.
The solution, in our humble opinion, is to look for creative ways around the problem.
One such solution might be to rent a retail lease space with another retail company, divide the property into two smaller shops, and thus split the cost in half. This might be particularly effective if you shared the space with a complimentary retail outlet, as in one which is related to your product and yet not competitive to it.
Another approach might be to rethink your concept of a retail outlet. Would it be possible to take your product on the road, so to speak? A mobile retail outlet, using the same concept as a food truck, might work for your product/company. Related to that, you might be able to find rewards by setting up temporary “shops” at temporary sales setting like farmers’ markets or bazaars. Do you really need a brick-and-mortar building for your retail shop?
And still another solution might be to look into moving your company to another city where the real estate is not as high. A drastic step, for sure, but drastic times call for drastic measures.
One in Fort Worth we think is worth a look.
We do have one possible solution in the Fort Worth area, and that solution is at Box Office Warehouse Suites in the Fort Worth District, an excellent area for retail, fast-growing and the future of Fort Worth growth. There you can find retail space for lease for under $1000 per month. Why? Because all of the units are made from refurbished and professionally designed shipping containers. The price is low because the construction costs were low.
What we want you to take from this article is this: traditional thinking will not work in a market which is redefining itself almost daily. Think outside the box and you just might find the retail lease space you want.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated, we have over two-million square feet of properties, anything you would want, from a warehouse for rent to a shop for rent to a garage for rent. Call us today and turn us loose to find the perfect property for your needs.