A great location is on the way home.
A brownstone, a tudor, publically-assisted, assisted-living or a loft are all a few examples of what it means to have a home. To varying degrees, most of us leave our homes everyday heading to work, obligations, school or a day of leisure. We leave these coveted spaces knowing that we fully intend to return.
The time in which we leave our homes has a lot to do with what we decide to purchase on the way to our destination. A more nuanced but similar decision-making process occurs on the way home too.
Folks returning home from work usually contemplate the tasks that they would like or need to do before they arrive. Things like dinner, exercise, car wash, groceries, pick-up the kids, happy hour, pick-up the pet are a few examples. An owner of real estate that is situated on an arterial that facilitates commuting between a major employment center and a relatively large residential neighborhood should study the retail options that commuters have on the reverse-commute. If you see merchandising opportunities based upon a lack of merchandise categories or due to a meager representation of a particular category, there may be a chance to attract a new and fresh tenant to sign a lease. As a tenant selecting space, note whether or not the available location offers your potential customers the oh-so-valuable ‘right turn in/right turn out’ ingress and egress. After a long day of work, I want decisions to be easy. A left turn in the midst of rush hour is NOT preferred and will likely be avoided at all costs. A great location offers people convenient, easily accessible and helpful options on the way home.