As the French like to say, plus ça change, plus c'est la même chose - the more things change, the more they stay the same. This observation applies to many things in life, including commercial real estate development.
There was an excess of retail space pre-COVID, followed by an acute deficit of it. Now, the industry picked up its pace, somewhat, and we can expect the build-up to continue in the coming years.
Retail construction forecasts vary, but the push for investment activity is another strong signal for the growth. So, what it translates into is an increased investor appetite for both anchored and unanchored shopping centers, supported by healthy consumer spending and (slowly) dropping interest rates. There are still challenges of high construction cost and land prices, but the overall process points to healthy growth.
Still, with a limited number of choices, and with a limited pool of money going after these choices, the landlords and asset managers have to capitalize on any vacancies they have, and do it promptly.
But speedy action should not mean there’s no time to make grounded decisions. It means, though, that business should make the best use of the best tools currently available on the market. Ticon, a historical traffic data collection, traffic data analysis & location intelligence consulting firm, offers such tools, making the strategic decision-making for retail property asset optimization quick and accurate, without breaking a bank.
Ticon’s tools for optimizing your real estate portfolio include custom reports for shopping centers that go beyond basic traffic, population and income data. They provide valuable insights into such vital data parameters as:
· AADT traffic counts;
· customer journey insights;
· target audience;
· age/sex distribution;
· income & population projections; and more
for 1-3-5-10 mile radii, or for custom–drafted extended trade area.
This enables you to assess the best-fit tenants for your space, match tenants to your audience profile, and present highly personalized offers.
It’s like having a full department of traffic engineers and data analysts working for you – only without the associated cost.
So, when you are ready to raise your game, give us a call to talk about asset performance optimization with Ticon’s highly granular data.
