It’s a big step, looking for retail space for rent. It is, after all, a task which will directly affect the future of your business, so yes, you need to take it slowly and find the exact retail space for lease which will best benefit you.
With that in mind, we have put together five things to look for in retail space for rent, we being the Fort Worth Design District, located in the Alliance Area of North Fort Worth. If you are located in the Fort Worth area, call us at 817-439-3224 and we can help you to find the retail space for rent you need.
Now, though, let’s look at those five things to look for in retail property.
Location for the future of your business
It has been said so many times now, it almost is its own cliché, but location, location, location is a crucial factor when leasing retail space. What is often not mentioned, however, is to keep an eye towards the future when doing so.
Everyone wants to talk about the hot locations TODAY, but very few business owners think about the future when looking at retail locations. What happens if your business is wildly successful? Is the property you are considering capable of handling a 50% increase in business? It may be the perfect size today, but will it be in five years? Will you have to move all over again in five years? That could be financial suicide for a retail business owner.
And, what are the business trends for your area? If the downtown corridor is a hot ticket now, will it be in five years, or is the trend towards another neighborhood in your city?
Complimentary businesses nearby
A dog-grooming business would do well to locate near a dog-supply store, or near a veterinarian. You gain new customers in this way because your neighbors are attracting the exact customers you want to attract. That kind of location may be worth a great amount of business.
A lease you can survive on
Yes, leases can be negotiated. In today’s questionable market, nothing is etched in stone. Write down a bottom line you are willing to pay and live with, and then step up and fight for that bottom line. Chances are you will be successful in making your lease a bit more attractive by doing so.
Flexibility and options
How much flexibility is there in the property you are looking at. Do you have options? Can you reconfigure the space to make it work better for you? What is the zoning in a particular area, and what does that zoning allow you to do, or what does it not allow you to do? These things are important, and that is why we believe the final point is crucial for your success in finding the right retail space for rent.
Hire the right real estate broker
At the risk of tooting our own horn, hire a real estate broker to help you in your search. Yes, it may cost you upfront to do so, but it will save you money in the long run, and actually make you money in that same long run. No one knows the commercial real estate market in your city like a seasoned real estate broker.
A final word
We believe these five tips are valuable. We hope you find them so in your search for retail space for rent.
Fort Worth Design District
The Fort Worth Design District is a forty-acre enclave of creative and forward-thinking small businesses. It consists of Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. Call us for all of your commercial and industrial space for lease needs in the Fort Worth area.