Tips to Consider When Searching for an Independent Retail Space

As a Commercial Real Estate Tenant Representative, I work with a variety of business each with their own needs for commercial real estate space. The ability to work with an independent retailer is often unique because the checklist of requirements is drastically different than a commercial office building.  Finding a space that fits the products being sold, target audience (convenience and visibility with customers is critical), and potential foot traffic is a fun and rewarding challenge. Outlined below are a few options to consider for independent retailers when considering commercial space. Mall, Strip Mall, or Standalone Building Location, location, location.  Making sure you pick a store front in the right location is critical to the success of your business, and a lot of it depends on what kind of business you have.  If you are a hip clothing store whose demographic is Millennials you might want to select a location [...]

By |2018-03-08T16:25:20-05:00July 7, 2017|Uncategorized|

Montgomery County Office Trends 2016

  Let’s look at trends in the office markets in Montgomery County mid year to the Fall 2016. Vacancy in the overall market is just under 12%. The average gross rent is $24.00 psf per year, BUT quality matters. Looking at vacancy and rental rate trends in Class A Office Space in Montgomery County PA you now see a vacancy in 7.3% and rates average $28.00 psf, please see the graphs below. Office Montgomery County PA Vacancy & Rental Rates Just shy of $24.00   Class A Office Space in Montgomery County PA Within Montgomery County vacancy and rates vary by location within the county. It is broken down into towns and A, B, C class office space.   Office Market Mid-Year 2016                                    CLICK TO ENLARGE Montgomery County Class A, B, C  

By |2016-09-21T10:42:23-04:00September 21, 2016|Uncategorized|

Office Space that Works Harder and Smarter??

Office Space that Works Harder and Smarter??? Just read the news in Natalie Kostelni’s article in the Philadelphia Business Journal about Tony Colciaghi designing office space that “works harder and smarter” for the law firm, Ballard Spahr. I have never had the opportunity to meet Tony but his comments make a lot of sense when it comes to the trend often referred to as shrinking office space in corporate real estate. Apparently on the lease renewal in 2012 there was a significant reduction in the office size of about 34,500 SF in a building with floor plates of about 22,500 +/- SF, the Mellon Bank Building. Beautiful office building built around 1998. According to the news piece in the fall of 2012 Ballard Spahr signed an 18 year lease for about 189,481 square feet reducing the previous office size by about 34,500 SF +/-. Tony an architect with Francis Kaufman [...]

By |2014-06-23T14:01:48-04:00June 13, 2014|Uncategorized|
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