After you’ve walked your property and completed your market study, it’s time to zoom out and ask: Who lives, works, and shops here? Because no matter how beautiful the space or how great the rent deal is, if the demo doesn’t match the use—it’s not going to work.
A high-end botox clinic in a low-income center? 🚫
A check-cashing business in an affluent, family-focused market? Double 🚫
A pediatrician in an area being taken over by dog groomers and breweries? You get the point.
So drive the market again. Take note of who’s busy, who’s expanding, and what types of uses are actually working nearby. Look at your comps. Tap back into the intel you got from your leasing agent coffee group.
And here’s your Rockstar Tip:
Don’t rely on 10-year-old census data. The future is in geo-fencing and real-time cell phone tracking data. This is where the industry is headed—you should be ahead of the curve.
Match the right tenant to the right demo and you’ll fill space faster, keep tenants longer, and build a stronger center. Let the data lead the way!