Posted on 06/19/18 by Michael Stiefvater
Beyond understanding today’s customer base, retailers today need to keep an eye on how the market will change during a lease.
Directly, each construction crane and ceremonial ribbon cutting provides an opportunity to reach a new group of potential customers. Digging deeper, the new luxury apartments and office buildings will likely impact retail businesses in a myriad of ways: changing demographics, increased competition and rising rental rates among them.
Luckily, unlike tech trends that seem to advance overnight (ready for a drone to deliver your groceries?), real estate development takes years to go from planning to construction and is therefore easily tracked. To make things even better, AED has created a series of interactive maps depicting Arlington’s development pipeline for you to utilize. Highlighting both approved and under construction developments, the maps are divided into four sectors: hotel, office, multifamily, and retail; which provides an easily digestible look at Arlington’s future.
With nearly 4,200 residential units under construction and more than 6 million square feet of office space approved, Arlington is continuously changing and being informed is a key way to stay ahead of the competition.Topic: Development Spotlight