Saturday 4 June 2016

Waad Nadhir - Three Essential Factors in Retail Property Development

Waad Nadhir is an expert in property development, as the President of BOSC Realty Advisors, he has helped develop several retail and office space properties throughout Michigan and beyond. Nadhir is also a consultant for other companies. Here are his three essential factors in retail property development:

  • Foot traffic. For any brick and mortar store to survive, it must be set up to sustain and attract as much foot traffic as possible. Waad Nadhir tries to set up new developments in high-traffic areas of a city or community. Rents are higher her for store owners, but it is well-worth it for sustained business success.
  • Size of the new development. The size of the incoming store must match the needs of the community. A store too big will draw community resentment, and retail properties that are too small won’t have a chance. Waad Nadhir helps developers find this tricky balance by working closely with the community and understanding its needs before he begins work on a new retail space. Having a small retail space next to a large one can be profitable, but more than one in the same area as a large retail space is usually too risky.
  • The right tenant mix. The stores around the retail space should complement the new business’s products or services. The new retails space should cater to relatively the same demographic as all the others.

Waad Nadhir has helped developers negotiate and find the best balance for their new properties.