Centrally located in the Dallas-Fort Worth metropolitan area, Southlake businesses cater to customers and clients from all over. Commercial real estate in Southlake comprises shopping plazas, office spaces, mixed-used buildings, industrial warehouses, and business centers. Retail and other commercial spaces are limited because it’s a primarily residential area.
As more businesses look to expand and cater to Southlake clientele, the market has become even more competitive. And with a tightening economy, tenants are becoming more cautious and specific. To optimize your business and maximize your earning potential (especially in the retail, restaurant, or office segments), you should learn why location matters in commercial real estate.
Access to customers
Still, location is critical for segments such as retail, restaurants, and offices. Restaurants and retail storefronts benefit greatly from sites near main streets, roads, or public transportation. When customers know where you are, it’s easier for them to reach your business repeatedly. Consulting with a commercial investment specialist or trusted real estate agent is truly invaluable, as they have the tools at their fingertips to do a deeper dive to confirm if the surrounding community will support the business.
Visibility and exposure
If you sell products, a business in a high-visibility location also increases the likelihood of impulse purchases. When customers come across a business that captures their attention or catches their eye, they may be inclined to look around, window-shop, and make a spontaneous purchase. Impulse buying behavior is often driven by a product or service's immediate availability and appeal, which is heightened when a business is prominently positioned and easily visible. One-third of consumers impulse purchase every week, which is even higher with brick-and-mortar storefronts.
Availability of sought-after amenities
Distance from competing businesses
Customers usually prefer the convenience of having choices to compare the products or services you're offering with a nearby business. It can also allow you to collaborate and network with similar businesses. You can build partnerships and affiliations to benefit your business.
Remember that competitor proximity requires a strategic approach to draw and retain customers. You'll need to analyze your pricing, market share, and profitability. You also need to implement marketing strategies to set your business apart from the surrounding similar businesses. Your commercial agent will be well-versed in negotiating on your behalf to limit harmful competition.
Knowing new developments and potential for growth
Local laws and zoning regulations
Work with an experienced real estate agent
With her multifaceted experience, Stephanie Bunn understands the market trends, budgeting factors, and intricacies of commercial leases, or buying and selling transactions. Stephanie is an ideal resource and advocate for anyone looking for the perfect location for your business or investment in commercial property.
Her clients benefit from professional CRE services that deliver comprehensive demographic information and research and analysis. By working with Stephanie, you’ll receive the full benefit of her network of real estate industry professionals.
Call Stephanie today for up-to-date market information and valuable market insights on commercial real estate for sale in Southlake.