Finding,Anchor,Business,for,Co business, insurance Finding an Anchor Business for a Commercial Retail Property
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When considering buying or building a commercial property for retail purposes, a top priority is that you need to locate an anchor business. An anchor business is the business that would be the economic anchor tenant for this property, like a Winn-Dixie grocery store, a Target store, or other major chain store. A primary purpose of an anchor tenant business is to make your retail property safe and more attractive to smaller potential tenants and also to bring cars onto the property. One of these large types of stores could be in the middle on the back of the property or at one of the corners. Dont do anything more until you secure that lease.In commercial retail property, finding an anchor business if key. You are not just signing up people. You sign a contract with a seller and you buy with what is called a free look. In the case of a commercial retail property that youre going to develop, that free look will last between six months and a year, and youll probably have extensions to that. For this free look, you give the seller a deposit of $10,000 to $20,000. You want that money held in an interest-bearing account on which you receive the interest. During this time, you must decide if its feasible for you to continue with the deal.The contract should stipulate how youre going to try to use the property. If you find that its unsuitable for your use, you can sell it to someone else, or cancel the contract and get your money back.After you have it under contract, it may seem like you have a lot of time. However, you need every bit of that time to consider the property infrastructure. Youll have to keep an eye on your forces to ensure that by the time you close, youre actually going to build or develop any existing structures.Finding an anchor business for a commercial retail deal is critical to completing a deal that will be successful for you for years to come.Stew Spence invites you to learn to high and even INFINITE returns investing in commercial real estate with a group (on money you used to have sitting in pathetic CD's at 4% or less) when you become a Select Member with America's #1 Real Estate Network today! Join us for an upcoming educational presentation to get information or to get started now: commercial real estate investing
Finding,Anchor,Business,for,Co