Top 12 Mistakes Tenants Make When Leasing Space (part 4 of 12)
#4 Most Common Mistake
Choosing The Wrong Location
Failure to understand the intricacies of NYC's retail landscape and neighborhood demographics can have devastating consequences. Our market varies from street to street, block by block, and even which side of the street or where on the block your business is located. Avoid the pitfalls of choosing a seemingly great deal that brings no traffic and no sales. Even a cheap rent is a costly mistake if the location has insufficient foot traffic, too many competitors, incompatible neighboring tenants, or your target demographic can't easily find your business. Working with an industry expert armed with market knowledge and the inside scoop is the best way to find the right locations, uncover off market sites and hidden gems you may have previously dismissed.