Need Input On Commercial Centers
Our market here is in a dramatic upswing with alot of residential building going on in what was a rural area. My husband is being mentored by a very successful developer in CA and when discussing our area with him, he suggested we do a commercial center with offices upfront and bays in the rear of the building. With all the construction about ready to happen, our target end-user would be small business contractors. Vacant commercial land values have just about doubled in the past year. Any suggestions on what would comprise the ideal location? i.e. would a corner piece(3 road access) but further out from town be preferable over a piece closer to town with only convienent access going northbound? Any other suggestions on locations? We are looking along US 1 in Florida where there is not much but small locally owned used car lots and old small motels. We know plans are being laid for storage units and a strip mall. Any advice on location or other considerationswould be greatly appreciated. Is there anyone that currently has a commercial center? We'd love to hear from you. Thank you!
I learned a long time ago to look at the MACRO picture when deciding a location. Look at the traffic patterns, the business growth, and the precieved value of a location. These are more important than what is next door.
Look at the location from the eyes of a newcomer to the area. Get rid of any prejudeice locals may have about things like, "This area was always bad"
I learn from out of towners when I talk to them about locations, often they have a better perception than someone who has worked and lived in an area for years.
Small business contractors need to be near their customers and/or their employees. They need to be near main roadways. Some need visabiity, some do not.
THe growth in Florida will make up for warly location mistakes, but you still need to make wise choices. You make money when you buy, not when you sell,
Gregg