Renting Retail Space | Office Space Infographic

Have you ever rented commercial space in a retail center? If you have, you know how many moving parts there can be in locating the best options, securing the space, and then modifying it to your business's needs. If you haven't ever rented retail space, we've created this fun infographic that lists most of the steps and the time frame each can take. We thought using the most popolar board game in history as the backdrop seemed like a no brainer!

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Don't pay full price for a Houston retail space build-out

At 2066 Crist Drive, in Los Altos, California, a nondescript ranch home still stands in a suburban neighborhood not unlike many others across the country. For technology enthusiasts, though, the home is their mecca - it is where Steve Jobs and Steve Wozniak toiled for countless hours, eventually pioneering the first Apple computer.

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Bronx ready for first suburban-style mall in 40 years

Prestige Properties knows that it is a risk to break ground for the first suburban-style fashion mall to be built in New York City in nearly 40 years, but it's one that they are willing to take. Indoor malls have received mixed reviews, with shops at The Time Warner Center thriving, while outlets at the South Sea Seaport have struggled.

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High-end bowling alley rolls into Dallas retail space

The Shops at Park Lane in Dallas, Texas contains dozens of stores and restaurants in an outdoor mall setting, allowing shoppers to spend hours outside if they so desire. The shops sit on a 33.5 acre space, so there is always room for additional development. With this in mind, two Southern Methodist University graduates want to bring an American pastime - with a contemporary twist - to the area.

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Gym, liquor store secure Austin retail space for lease

Since the height of the recent economic recession, malls and shopping centers around the country have felt increasing pressure stemming from shuttering stores {never heard that term but Lisa claims it's legit} and climbing vacancy rates. However, with jobs figures and economic indicators heading in the right direction, more shopping centers are noticing increasing demand for retail space for lease, particularly in burgeoning metropolitan areas such as Austin.

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5 Mistakes Businesses Make When Leasing Space

When visiting with small business owners about how their company’s office space plays a role in the business growth and culture, there’s typically a common theme that rears it’s ugly head: too many mistakes are made in the leasing process.  Owners and decision makers often make several key mistakes that can end up costing companies significantly down the line and can even cripple their growth rate.  Because office rent is the second highest expense the vast majority of companies incur, doing things the wrong way leading up to signing on the dotted line can be devastating and can make any  business owner go crazy!

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TheSquareFoot Agent Lance Gillam in GlobeSt

One of our Houston retail brokers, Lance Gillam of UCR moodyrambin PAGE, was quoted in GlobeSt yesterday talking about current trends in Houston retail space leasing.  It is interesting to see the dichotomy between class A retail space--where there can often be a waiting list--and class B and C space where vacancies abound.

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Trader Joes Moves Into Historic Houston Landmark | TheSquareFoot Blog

There have been several reports recently that popular neighborhood grocery store Trader Joe's will be making its way to Houston soon, which made many locals who have visited a location in another market quite giddy.  The outfit was started on the West Coast in the 1960's, and has built up a popular cult following ever since.  Known for having "innovative" and hard to find foods that just so happen to also taste great, Trader Joe's was also known to be somewhat of a pioneer in its marketing efforts - putting out a newsletter in the 70's mainly about the wines and foods that were sold at the store, as well as having a line of private label products.

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From Books to Super Hero Briefs? H M Could Be Moving Into The Galleria Borders Location

We've now heard rumors from several sources saying that the Galleria Houston retail space for lease currently occupied by Borders, could be the new location of hot clothing retailer H & M.  The news coming out last month that all Borders locations will close nationwide, left questions as to what kind of large big name retail tenant could fill the sizable void in the Galleria left by such a large brand.  We may have an answer, although it seems a little early to be sure.

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New Shiny, Versatile Frost Bank Makes For An Appealing Houston Commercial Property

How's this for a traditional bank?  Frost Bank opened state-of-the-art branch in Rice Village, which made for another of the more interesting new Houston commercial properties. Here's the kicker, it's not just a place for banking transactions, but can serve as an alternate location for businesses, organizations, and boards to hold special events and meetings.  This kind of complex shows how cutting edge properties can diversify and get the most use out of a single location.

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Houston Retail Space - So Long Borders

The news broke a few days ago that the Borders Bookstore chain has filed for bankruptcy and will likely see close to 400 stores close down nationwide.  Houston will most likely lose it's remaining five Houston Borders locations, which will add to the large amounts of vacant Houston retail space the city has been carrying for years.  Not long ago we saw another big box retailer, Circuit City, share a similar fate and some of those vacancies have yet to be filled nationwide.

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Commercial Leasing Definitions - Anchor Tenant

Anchor Tenant typically refers to a large store in a retail shopping center (usually a department store or major retail outfit like HEB or Walmart) which the landlord has strategically rented space to in order to draw in large crowds and funnel them into other stores within the center.  Name recognition and prestige of these large users are the appealing factors that will drive in other tenants and shoppers.  Because of the value that an anchor tenant can provide the landlord as far as appeal to other smaller tenants and heavy traffic draw, discounted rental rates can often be given to these large users.  It's not uncommon for an anchor tenant to reserve the right to approve the selection of a center's other tenants in order to prevent competing (and much smaller) tenants from taking away customers.  That's how much value a well-respected anchor tenant, like an Apple store can bring!

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Houston Retail Space Gets Shoutout in WSJ!

The recession’s hit to Houston retail space has been well documented.  In this recent article in the Wall Street Journal, several stats from a survey by Colliers International covering the closures of four prominent big-box retailers over the last couple of years are particularly sobering.  Just over half of the surveyed properties are still vacant and the rest of them were re-leased for rents that averages almost 20% less than what the previous tenants were paying.   As the article points out, the recent bankruptcies of Blockbuster and Borders will only add to the problems.  One positive note is that none of the seven borders locations in Houston were on the initial chopping block so it appears that Houston retail space is holding up better than other national markets.

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Commercial Property Types: Houston Retail Space For Lease

Businesses seeking to lease Houston retail space will often have to consider several factors before determining the best type of retail space for lease to fit their needs.  Some retail businesses rely on "impulse purchases" while others rely on carefully planned purchases.  Impulse retail will focus heavily on location and visibility, and will usually require a premium location within a shopping center, meaning higher rents.  Businesses that aren't reliant on impulse purchases don't typically need to be in an incredible location with optimal visibility, although that's always important for any type of business.  Access and visibility are much less important for "destination" retail, but again, will always help.  Here are the different types of  retail space for lease, with descriptions:

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