Spotting demographic and economic trends can help a commercial real estate firm in Denver be proactive in helping retailers make good decisions. An ICSC look at Orlando and the realization of that region’s potential through mixed use, in-fill, and other developments can provide retailers interested in Central Florida and other communities across the country with important insight into trends that can influence their plans and performance. And those trends may also be valuable to similar communities across the country.
Here are 5 Trends Retailers Should Look Out For
- Cities with a strong tourist industry may find economic benefits from extending tourist experience. Oftentimes, there’s a high demand for places to eat and relax among tourists, as well as smaller venues where people can go aside from theme parks. Expanded offerings by real estate developer support the idea that vacation isn’t limited to theme parks and attractions. It meets the needs of tourists and also benefits the local economy.
- Beyond tourism, cities with downtown areas revitalized by big employers coming in may find their “peak” times greatly expanded, which means greater diversity in development. More workers in an area can lead to higher residency, and that increased residency can support more businesses, including national retailers; watch where big employers go to see residential and other businesses follow.
- Postsecondary schools in some communities can drive mixed-use development with fill-in neighborhoods and the supporting businesses they bring because of student use or need.
- In some areas, there is a trend toward more mixed-use areas and districts, including residential, business, and even education as schools sprout up to educate the children of those taking advantage of residential opportunities.
- Learn to love the master-planned community. Having a mixed-use real estate project that’s been well-organized and thoroughly planned by a civil engineering firm near you can alleviate some headaches that might ordinarily come from having to make changes as tenants line up with varying needs. Building to suit and getting on a tight cycle of build and lease can help improve tenancy and cash flow to support the next project.
Accomplish Your Goals with an Experienced Commercial Real Estate Firm
Use the observed trends in Orlando to consider how conditions may be similar in your community and how you may be able to replicate some of those economic success stories from Central Florida. By basing decision-making on evidence-based data and civil engineering, you may stand a far better chance of achieving your commercial real estate goals with new projects designed to harness the positive aspects of increased population growth, tourism, and more.