Retail space is generally found along the busiest streets and roadways and consists of small stores, strip malls, shopping centers and large retail malls. Retail is the last stop in the manufacturing chain, the spot where merchants sell products to customers. Retail space differs from other commercial real estate, such as industrial or office space, in that the emphasis is on product display and customer accommodation. Retail space can be anything from a local storefront location on the main street to small strip malls or large malls. Retail space with a drive-thru.
North Andover commercial property
Available Retail Space
Inventory of retail space changes frequently. We represent clients looking to lease and or purchase industrial real estate property. Fill out our inquiry form to the right and we will provide you with the current inventory of industrial space in the area you are looking for.
Retail Space
Merchants usually create or find retail spaces in single-standing buildings, in malls, and on the main streets of busy commercial districts. Airports, college campuses, subway stops, sports arenas, hospitals, train stations and other places that experience heavy foot traffic also have retail space.
Strip malls are smaller retail properties that may or may not contain anchor tenants. An anchor tenant is simply a larger retail tenant which usually serves to draw customers into the property. Examples of anchor tenants are Wal-Mart, Publix, or Home Depot. Strip centers typical contain a mix of small retail stores like Chinese restaurants, dry cleaners, nail salons, etc.
Community Retail Center. Community retail centers are normally in the range of 150,000-350,000 square feet. Multiple anchors occupy community centers, such as grocery stores and drug stores. Additionally, it is common to find one or more restaurants located in a community retail center.
Regional Mall. Malls range from 400,000-2,000,000 square feet and generally have a handful of anchor tenants such as department stores or big box retailers like Barnes & Noble or Best Buy.
Commercial Leases
There are three basic types of industrial space commercial real estate leases. These leases are organized around two rent calculation methods: “net” and gross.” The gross lease typically means a tenant pays one lump sum for rent, from which the landlord pays his expenses. The net lease has a smaller base rent, with other expenses paid for by the tenant. The modified gross lease is a happy marriage between the two. While terms vary widely building by building, this basic overview will help businesses shop for the best deal possible.
Always work with an experienced commercial real estate broker when negotiating a commercial lease.
