The Difference Between Commercial and Retail Properties
You’ve heard the terms “retail space” and “commercial space”, but do you know the difference? Before you enter a lease, you need to know the difference and what each space can mean for your business!
RETAIL SPACE
Retail spaces are highly desirable due to the large amount of foot traffic. Often times they are located near “anchor” stores – such as grocery stores which can also help to increase your foot traffic.
While looking into retail spaces there are a few aspects to keep in mind:
Parking: Is there ample parking for your clients or customers? Will there still be enough available spaces after your employees have parked?
Accessibility: How easy is it for customers and clients to access the parking lot and building? Is it located on a busy street, but they can still enter easily? Or, is the traffic simply impossible to maneuver?
Visibility: This one is twofold. Is there a sign or marquee out front where you can show your business name? Additionally, can those passing by see your business? If the answer to either of these questions, even both, you should consider looking at other spaces.
COMMERCIAL SPACE
Commercial spaces are ideal for businesses that need room for cubicles in addition to a reception area, offices, and conference rooms. These businesses aside from the employees, don’t see a tremendous amount of foot traffic. They are typically centrally located, making it easier for employees who commute.
Before you lease a commercial space, consider the following:
Clients and Customers: Does your business frequently have clients or customers coming in? If not, then a commercial space would be perfect for you.
Your Business: For your type of business, does your space matter? Does your business thrive off of people coming in throughout the day and making a purchase, scheduling a service, or is your business more of an office setting with clients emailing or calling throughout the day with their needs?
Now that you’re equipped with this knowledge, the decision should be easier to make. The team at Rosetti Properties would enjoy helping you with your process and finding the space that is best suited for you and your business’ needs. For more information, or to get started, contact us today!