Navigating the commercial real estate industry requires a keen eye for opportunity. Considering property location, niche offerings, and the intricacies of the buildings themselves are all pieces that can add up to success. By considering all of these aspects, you can position yourself to progress in the CRE landscape. Here are a few real-world examples of how each aspect can affect the interest of buyers, tenants, and customers alike.
Entertainment Retail Anchors
In the ever-evolving world of commercial real estate, the retail sector is taking a fresh approach to anchor tenants. Rather than big-name chains or department stores, property managers are shifting toward interactive entertainment anchors. With online shopping being a popular choice lately, customers are seeking experiences over traditional store-to-store browsing. These new anchors could include minigolf, movie theaters, entertainment venues, roller skating rinks, and even batting cages.
Commercial Location Strategy
When it comes to commercial businesses, property location is imperative. When selecting the location of your building, you must consider the area’s typical foot traffic, nearby competitors, and fixed and variable costs.
Vacancies on Billionaires’ Row
The occupancy of Billionaires’ Row in New York City is steadily dwindling. The prestigious residential skyscrapers, once a booming location, are now experiencing a decrease in tenants. The engineering behind these buildings’ architecture also contributes to their high value and why they are seemingly unattainable currently.
