If you are looking for a good return on commercial property, you must have a solid understanding the ins and outs of real estate in the area. Commercial property can be a great find – and a great moneymaker, but you don’t want to leap first and ask questions later.
There are various types of commercial property. Let’s look at them individually.
• Offices: tend to have a high value when situated in the central business district of an urban area or business district. Major office districts, regional centers and suburban centers are other viable areas. Think about where people are working. Probably not in the middle of a cornfield. Look at the area carefully, and see if this is a place companies WANT to do business. A good thing about office real estate is that there is a slightly different wear and tear. Doubtful that the place will be trashed from a raging party or burned down from a kitchen fire. Offices are also generally used less then 24 hours a day. They do come with different needs though, from electrical to plumbing. Consider this when investing.
• Retail: Certain retail sites will always be at a premium. Location is key in getting the greatest investment potential for your money. Shopping centers, strip shops and malls have a great return on investment. The hot places that people are spending money are the hot places to rent out. But, sometimes retail areas can be fickle. New shopping malls spring up all the time, driving other malls out of business. Make sure the place you are investing in isn’t gone to be usurped by a new mall annex or a moving highway.
• Commercially zoned real estate: This is a bit trickier. This type of property can be improved by converting it to a multiple use property - office, retail, residential. Mixed use real estate like this can buffer you from changing economic factors – and ensure you have a steady stream of income. This is sometimes trickier to mange and rent – so you will probably want to work with a knowledgeable property management firm.
Kuester Property Management
Showing posts with label retail. Show all posts
Showing posts with label retail. Show all posts
Thursday, May 20, 2010
Thursday, October 15, 2009
Get Your Commercial Retail Space ready for the Holidays
Holiday decorating in the 21st Century can be a tricky task. You want to stay seasonal and festive, but you don’t want to offend or seem biased to any cultural or religious groups. We have some tips and ideas for you, but remember to filter them through the specific needs of your business, your neighborhood, and the wants of your customers.
A) Music
We are kind of biased, our favorite holiday tunes are most definitely The Charlie Brown Christmas Special soundtrack. But, that might not work for you and your business. If you are going to play holiday music in your facility, you have two options: keeping it holiday neutral (no Christmas mentions, etc.) or letting it run the gamut of holidays. We prefer the later. You can find on iTunes, or through other online services, a plethora of songs about Kwanzaa, Christmas, and Hanukkah. Add in some non-secular songs, some modern interpretations, a little bit of this and that, and you can create a play list that will not offend anyone, but delight everyone. Just do us one favor, don’t start playing it till after Thanksgiving! PLEASE!
B) Lights! Lights! Lights!
Lights always help to create a mood! AND they are "friendly" to all backgrounds and affiliations - especially the classic white light. A simple string of lights (and it is totally your choice whether to go with a small white classy strand or the more gauche big colored bulbs) can transform your simple store into a winter wonderland! If possible, unveil some special candles or tea lights (fire codes permitting). Remember, orange and red lights for the spooky and scary Halloween season can be slightly modified to give off a friendly glow near Thanksgiving. Respond to your customers needs, make sure to keep your business properly lit, but have some fun! Whatever you do, try to keep things appropriate for your clientele.
C) Decorations
Almost as tricky as the music you will play, any decorations you display have to be carefully thought out. Again, think of your business and customers. Go with simple, all inclusive colors, ornaments, or signage. If you think witches, ghosts and goblins might be too much for your place, go with fall colors, some autumnal colors, leaves, branches, hay bails and other signs of the harvest. In December, anything with silver and gold will probably please everyone, and snow elements and winter themes like snowmen always are popular. On the flipside, you can embrace all cultures and give them display. It can be a hardy task, unless you have the room and creative talent to showcase all of the holiday season’s many special dates. Most of all, remember the holidays are a time of peace, thanks-giving, generosity and kindness. This is what should be reflected.
D) Specials and Promotions
If you are a restaurant, consider featuring new seasonal menu items that highlight the season. If you’re a retail store, bring in some special merchandise, run a few holiday promotions, and make sure your inventory reflects the mood of your shoppers. Dentist can run post-Halloween specials for kid’s teeth, and gyms can suggest increased work-outs after gobbling down a lot of food over the holidays. Make your advertisements and marketing efforts reflect the season – and the general public will respond. You don’t have to make huge changes to your routine, but adding Pumpkin Pie or selling Holiday Cards certainly takes you from “Bah Humbug” to “Happy Holidays!”
Now all decorating advice is subjective. While the common trend a few years ago was to remain rigidly politically correct, society has loosened up a bit and people seem to welcome the celebration of our holidays. Dressing on Halloween doesn’t mean you’re a Satanist, having a stuffed turkey cut-out by your register doesn’t mean you are anti-Native American, (or anti-vegetarian) and a Christmas tree sometimes is just a beautiful tree--and a symbol of sustained life. As long as you and your staff are friendly, welcoming, and polite – your decorations will only accent your business.
Best of luck and have a wonderful holiday season!
Property Manager
Kuester Companies
A) Music
We are kind of biased, our favorite holiday tunes are most definitely The Charlie Brown Christmas Special soundtrack. But, that might not work for you and your business. If you are going to play holiday music in your facility, you have two options: keeping it holiday neutral (no Christmas mentions, etc.) or letting it run the gamut of holidays. We prefer the later. You can find on iTunes, or through other online services, a plethora of songs about Kwanzaa, Christmas, and Hanukkah. Add in some non-secular songs, some modern interpretations, a little bit of this and that, and you can create a play list that will not offend anyone, but delight everyone. Just do us one favor, don’t start playing it till after Thanksgiving! PLEASE!
B) Lights! Lights! Lights!
Lights always help to create a mood! AND they are "friendly" to all backgrounds and affiliations - especially the classic white light. A simple string of lights (and it is totally your choice whether to go with a small white classy strand or the more gauche big colored bulbs) can transform your simple store into a winter wonderland! If possible, unveil some special candles or tea lights (fire codes permitting). Remember, orange and red lights for the spooky and scary Halloween season can be slightly modified to give off a friendly glow near Thanksgiving. Respond to your customers needs, make sure to keep your business properly lit, but have some fun! Whatever you do, try to keep things appropriate for your clientele.
C) Decorations
Almost as tricky as the music you will play, any decorations you display have to be carefully thought out. Again, think of your business and customers. Go with simple, all inclusive colors, ornaments, or signage. If you think witches, ghosts and goblins might be too much for your place, go with fall colors, some autumnal colors, leaves, branches, hay bails and other signs of the harvest. In December, anything with silver and gold will probably please everyone, and snow elements and winter themes like snowmen always are popular. On the flipside, you can embrace all cultures and give them display. It can be a hardy task, unless you have the room and creative talent to showcase all of the holiday season’s many special dates. Most of all, remember the holidays are a time of peace, thanks-giving, generosity and kindness. This is what should be reflected.
D) Specials and Promotions
If you are a restaurant, consider featuring new seasonal menu items that highlight the season. If you’re a retail store, bring in some special merchandise, run a few holiday promotions, and make sure your inventory reflects the mood of your shoppers. Dentist can run post-Halloween specials for kid’s teeth, and gyms can suggest increased work-outs after gobbling down a lot of food over the holidays. Make your advertisements and marketing efforts reflect the season – and the general public will respond. You don’t have to make huge changes to your routine, but adding Pumpkin Pie or selling Holiday Cards certainly takes you from “Bah Humbug” to “Happy Holidays!”
Now all decorating advice is subjective. While the common trend a few years ago was to remain rigidly politically correct, society has loosened up a bit and people seem to welcome the celebration of our holidays. Dressing on Halloween doesn’t mean you’re a Satanist, having a stuffed turkey cut-out by your register doesn’t mean you are anti-Native American, (or anti-vegetarian) and a Christmas tree sometimes is just a beautiful tree--and a symbol of sustained life. As long as you and your staff are friendly, welcoming, and polite – your decorations will only accent your business.
Best of luck and have a wonderful holiday season!
Property Manager
Kuester Companies
Tuesday, February 17, 2009
Selecting a Property Management Company
Dear Property Manager,
I currently own a 20,000 square foot office/retail space (can sub by 1000) in Charlotte which will become available in May of this year. I would like to know how to select the right type of property management company. I am planning on handling the advertising/listing portion myself, but would need someone to handle the leasing arrangements, maintenance and rent collection. Thank you.
Charlie J.
Dear Charlie,
First, look around in the neighborhoods or near your building and look who handles the management for those buildings. A lot of the times the property management company will post a sign. Also, you can ask other building owners who they use. Hopefully Kuester will be on your list! Then I recommend you make appointments with the top three that catch your eye. Meet in person with each company, ask them about their experience with property similar to yours, and if they think you are a good fit for them—and then get references.
Then… definitely check those references.
After you have gone through this process, you should be able to choose the best property management company for you—and I do hope you chose us!
Please give contact us today to set up our “interview”. I look forward to hearing from you.
Property Manager
Kuester Property Management
I currently own a 20,000 square foot office/retail space (can sub by 1000) in Charlotte which will become available in May of this year. I would like to know how to select the right type of property management company. I am planning on handling the advertising/listing portion myself, but would need someone to handle the leasing arrangements, maintenance and rent collection. Thank you.
Charlie J.
Dear Charlie,
First, look around in the neighborhoods or near your building and look who handles the management for those buildings. A lot of the times the property management company will post a sign. Also, you can ask other building owners who they use. Hopefully Kuester will be on your list! Then I recommend you make appointments with the top three that catch your eye. Meet in person with each company, ask them about their experience with property similar to yours, and if they think you are a good fit for them—and then get references.
Then… definitely check those references.
After you have gone through this process, you should be able to choose the best property management company for you—and I do hope you chose us!
Please give contact us today to set up our “interview”. I look forward to hearing from you.
Property Manager
Kuester Property Management
Thursday, January 22, 2009
Rental Property for Toy Store
Dear Property Manager –
I am launching a specialty toy store and am looking for a rental property in the northeast of York County, S.C.. I’ve done my business plan and know approximately how much I can pay per square foot. The only thing I need to decide now is where, and what type of location. Any advice?
Marge W., Charlotte, NC.
Dear Marge –
I’m sure you’ve heard it before, but running a retail operation is all about location, location, location, unless you’re a destination business. As you know, you are fighting the competition of both big box and online toy retailers. That being said, specialty toy shops hold special magic for both parents and children that can lead to dynamic business.
A toy store is a destination during the holidays, but the rest of the year, it must be in a high traffic area, so you’ll want to consider either a busy downtown location with heavy foot traffic, a mall or a shopping plaza. The building also needs adequate restroom facilities, easy access for truck deliveries, ample parking and no obstacles for strollers. For each location you consider, investigate what other nearby businesses draw the type of clientele you’re targeting. Is there a family-friendly restaurant? A children’s clothing or shoe store? A pet store? A candy or book store? A pediatrician or dentist? These types of businesses offer a synergy that would be mutually beneficial
We manage a number of retail sites that provide the amenities you are seeking. One that comes to mind immediately is the Shoppes at Towne Square, located at in the heart of Fort Mill at 200 Doby's Bridge Road. This property has up to 2000 square ft. available for rent, great visibility from three sides, and is located in a high-end residential neighborhood where several of the retailers would fit the “synergy” criteria.
We’d be happy to meet with you to review your specifications and show you this and other properties that meet your needs. Please give us a call at (803) 802-2004.
With best regards,
Property Manager
Kuester
I am launching a specialty toy store and am looking for a rental property in the northeast of York County, S.C.. I’ve done my business plan and know approximately how much I can pay per square foot. The only thing I need to decide now is where, and what type of location. Any advice?
Marge W., Charlotte, NC.
Dear Marge –
I’m sure you’ve heard it before, but running a retail operation is all about location, location, location, unless you’re a destination business. As you know, you are fighting the competition of both big box and online toy retailers. That being said, specialty toy shops hold special magic for both parents and children that can lead to dynamic business.
A toy store is a destination during the holidays, but the rest of the year, it must be in a high traffic area, so you’ll want to consider either a busy downtown location with heavy foot traffic, a mall or a shopping plaza. The building also needs adequate restroom facilities, easy access for truck deliveries, ample parking and no obstacles for strollers. For each location you consider, investigate what other nearby businesses draw the type of clientele you’re targeting. Is there a family-friendly restaurant? A children’s clothing or shoe store? A pet store? A candy or book store? A pediatrician or dentist? These types of businesses offer a synergy that would be mutually beneficial
We manage a number of retail sites that provide the amenities you are seeking. One that comes to mind immediately is the Shoppes at Towne Square, located at in the heart of Fort Mill at 200 Doby's Bridge Road. This property has up to 2000 square ft. available for rent, great visibility from three sides, and is located in a high-end residential neighborhood where several of the retailers would fit the “synergy” criteria.
We’d be happy to meet with you to review your specifications and show you this and other properties that meet your needs. Please give us a call at (803) 802-2004.
With best regards,
Property Manager
Kuester
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