Saturday, March 13, 2010

Markets everywhere

Commercial real estate markets are generally the same everywhere you go, because the economics of the markets are the same. Smaller markets warrant a certain type store and make-up, larger markets can justify a different retailer or office building. Most is due to demographics, but there are other factors such as traffic flow, region of the country, visibility, newer or older community, retirement or business or laidback community, etc. A small town in Arkansas generally has the same franchise brands as a small town in Georgia. Mom & Pops may be called different names, but the types of businesses are generally the same. What makes a product or retail store unique is that it's different, new, has great customer service, and creates a buzz.