Commercial Real Estate Education

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By: spaceselectors   June 13, 2019

Great Location Study: Ambient Music

A great location has ambient music. I don't mean elevator music. I mean the type of music that fits the part. A white tablecloth restaurant will often be playing a classical composition softly in the background. An apparel retailer that caters to 'tweens' may just burst your eardrums with a rotation of the nation's 'top 30'. I am a particular fan of retail environments that marry the music with the 'merch'. No matter your particular musical taste, the presence of music changes the entire m

By: spaceselectors   June 13, 2019

Great Location Study: South Facing

A great location is south-facing. There are three key attributes of south-facing properties that add tenant, employee and customer interest; 1) sunlight throughout most of the workday 2) reduced heating bills (for most) due to the sun's warmth and 3) increased property values. There's no need to fret if your current location is on the north, east or west side of the street. As you know, there are dozens of attributes that contribute to the success of a commercial real estate property. The

By: spaceselectors   June 13, 2019

Great Location Study: Safety

A great location is safe. Crime is real. I hope that it can be appropriately addressed on all levels of severity and safety. That said, the hard truth is that prudent real estate investment calls for more due diligence than traffic counts, $1400-stroller-in-the-neighborhood-counts and counting the amount of homes valued over $750,000. Sometimes, basic homework reveals the answers to complex questions that further reveal or eliminate vast amounts of personal safety and capital risk. R

By: spaceselectors   June 13, 2019

Great Location Study: Heat

A great location has heating elements. The midwestern and eastern states in the U.S. are shaking off the aftereffects of a recent and brutally frigid polar vortex in which temperatures plunged below -30 degrees Fahrenheit in some cases. Umm, that's cold! As a result, leisurely winter strolls along snow covered paths are cut short and often end with its participants seeking a warm place to thaw out. Grabbing a hot beverage in front of a roaring wood-burning fireplace before trudging home is

By: spaceselectors   June 13, 2019

Great Location Study: Near Your Customers

A great location is near your customers. Lest we forget...After all of our demographic, telephonic, market-driven, inflation vs. CPI analyses and gut-feelings, a ton of people surrounding your commercial site can help you overcome a lot of missteps. As it turns out, there is no substitute for plain 'ol density. That said, even abnormally dense density can be squeezed for more juice. If you really understand your market and can build what's needed or merchandise to meet customer demands, you w

By: spaceselectors   June 13, 2019

Great Location Study: Service Entrance

A great location has a rear service entrance. Present is more important than pretty. A means of rear entry and exit can reduce or eliminate many unsightly and detracting elements that can damage the first impression of a retail asset. The clutter of boxes, grease-stained concrete and broken glass are often found at the front door of many retail establishments. Mais porquoi? In densely populated urban areas, ground floor retail space may be hundreds of years old and scarce. Think of Las Ram

By: spaceselectors   June 12, 2019

Great Location Study: Views

A great location has incredible views. The third week of August is generally when it begins to become worth seeing. If you wait too long after Labor Day weekend, the warmer weather in the mountains and the accelerated metamorphosis may cause you to completely miss the spectacle. The splendor of the aspen leaves progressing into their autumnal display is an under the radar event than must be added to your bucket list if it isn't already on it. 'Is that it', you may be asking yourself? Do I

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