Commercial Real Estate is not an industry of simple answers. There might not be any other industry where most of the answers to client questions begin with the words “it depends”. Join us as we explore some of its complexities.
For example, have you ever wondered how much retail space costs in prime areas? After all, we often hear the average cost for one or two-bedroom apartments, and how they differ across the major cities in the country. So how about retail space in Vancouver? The short answer is (you guessed it) “it depends”.
Although it all comes down to the price per square foot, there are many things that affect this price: What type of building is the space located at and what amenities does it offer? Does it have parking? How accessible is it and how much foot traffic does it have? Is it close to public transit? And of course, location, location, location! These are some of the common questions that would follow the answer “it depends” as they would make a significant difference in the price of a space.
Before you are ready to open a business or expand your current one, you will also need answers to questions you might not have thought of. This includes questions about your business wants and needs: Do you want/need front space? Does your business need a lot of foot traffic? Is it a destination space? Do you want people to see your business when they are walking by or know where to find out in advance? Do you prefer to pay a higher rent to be visible or pay less and invest more in marketing? The answers to these questions will be big factors in finding the perfect location for your business and that is why we will be asking you these questions (and more); so we can better understand and help you find the right space for you.
Starting a new business (or expanding your existing one) is a big decision, and it’s one that shouldn’t be done alone. You need to surround yourself with people that will ask you the right questions; the questions that will lead to answers that will ultimately get you the perfect location for your business.
At Custom Realty, we understand that this process can be very overwhelming. We know the right questions to ask and have the experience to support you. Let us help you figure out where your business belongs.
Give us a call. We are on your side!