In Commercial Real Estate It Is The Same Thing

In seeing pockets of vacancies around my area in strip shopping centers due to a tough economy I tracked down a few owners that were still in business yet had moved. I discovered

In Commercial Real Estate It Is The Same Thing.

Agents specializing in Residential, Lakefront, Farm and Ranch, or Luxury, all know about it.

Location, Location, Location.

Turns out this niche batteries store HAD to move to survive. To get better foot traffic for his business.

Another story involved the anchor grocery store moving out of a shopping center and the private Christian bookstore folding up. Where did all the former customers go? Apparently wherever the anchor store moved to.

The retailers Walgreens and Kohls have specific targeted areas whether they be free standing corner locations on busy highways or medium upscale shopping centers. Whatever they are doing, it is working. And then we have McDonald's who is not really in the hamburger business at all but the real estate business. Those guys know how to pick the winning spots for the most part.

Point is, as a commercial business, do your due diligence up front on location. Whether product or service oriented or restaurant, a good location is critical. Or just plop your business down wherever you see a McDonald's to avoid those clearance to the walls sales to close your doors and be no more.