The question of whether aging commercial properties can find new
life and cash flow is one that has haunted the industry since the
Great Recession began and continued through 2017 when the
"wall of maturities" was expected to hit. Now that the
marketplace looks down the corridor of the year 2018, it seems that
the resounding answer to that question is, "Yes, there is life
after the recent challenges presented to bricks and mortar."
That is, if the managers and developers have a few key components
in place, and as always, if they have a favorable location, or the
vision to create one.
Capitalizing on "The Experience"
To attract customers, the business must either have goods that
cannot be obtained anywhere else as easily or cheaply, or the
property provides an "experience" that attends the
purchasing and sales transaction. Even though the idea of an
"experience" seems tourist driven, it is
non-discriminatory, and can be applied to almost any commercial
venture.
