Despite the market gloom, retail property transactions across the nation are still taking place – and not at a deficiency to the seller. Desirable, quality properties are being found at a tremendous value and this is good news for our local Richmond market. A recent study shows some clear indicators of where investors can look for these properties, and confirm for sellers if their property is one that will not linger in the marketplace. The analysis, conducted by Nielsen Claritas, reveals the following:
1. Shopping centers with the identified “dividing line” of 27.7% or more college educated households in their markets have the lowest vacancy rates. Of course a low vacancy = higher revenue.
2. Shopping centers with that educational demographic which also have GLAs of less than 10.2% per capita have even LOWER vacancy rates.
One of the important ways in which we at Sperry Van Ness ‘Add Value’ to our clients is by helping them to fully-understand all of the information that impacts their investment properties. Does this new data fit the characteristics and selling propositions of YOUR property? This is critical information I can help you determine. And if you DON’T know, realize that this could be something that makes a large impact on your property’s marketing strategy. EMAIL ME or VIDEO CHAT me now and let’s apply my latest market demographics and trends data to your property – it’s confidential and complimentary.
Ken Riggs, CEO of Real Estate Research Corp., shares survey results in his latest “The Expert: The Uneven Road To Recovery” in which some investors claim quality properties are available in good locations and at fair prices, and that it may be time to look for opportunities. He says, “those who have an eye on the long-term horizon and are committed and prepared to do whatever it takes to stay the course of raw survival, will, in keeping with Darwinian principles, survive and one day ride to a higher plane.” If you are hesitant to make the investment, perhaps applying this new data to your potential property purchase could help make the decision for you.
Click HERE for the original article covering Nielsen Claritas’s findings.