Why the Statue of Liberty is Only Awesome in New York!
I was on a tour with a corporate real estate manager the other day when he said a statement that I thought was not only funny, but also extremely accurate. The client was a national retail fast food user that typically goes into prime A+ retail locations across my city and the nation.
I don’t know how it always seems to happen but with every national chain there always seems to be that one terribly located store that somehow made it through the corporate real estate committee. There always seems to be that store that is lacking visibility, parking, access, etc.
So, anyway back to my story, we were driving by the one bad store in the city and he looks over to me and says, “Well, there she is, there is our Statue of Liberty store.” Immediately I thought to myself, “Well, the store really isn’t that great looking. In fact, the store is really kind of old. This store was definitely not something to be modeled after the Statue of Liberty.”
I laughed, agreed and looked at him as though I knew what he was talking about. Then he further explained, “…yeah, you can see it from any point you just can’t figure out how to get to it.”
At that point I actually started really laughing. He was referring to the access to and from that particular store and how challenging it was for consumers to get there.
If anyone has read my previous posts they have received an earful that when it comes to Retail Real Estate, access is probably one of the most, if not the most, important features to make sure your property has. If consumers can see your business but can’t get to it than what is the point in having a retail store besides marketing your name? You should go open an online concept and save you the cost of rent.
So, I ask you, is the property you own or operate logically located or is it the Statue of Liberty?
I hope you enjoyed this article, I know I enjoyed the experience.