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Could Leasing Space in This Hidden Suburban Gem Boost Your Income?

Published: 02-07-22 Category: Leasing/Renting

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

Want to really crank up your income-boosting activities? Move your revenue generation activities somewhere else. No, we are not saying that you have to grab the nearest U-Haul and hightail it to another city.

This is the digital age. Thanks to technology and having the right systems in place, we can indeed be in multiple places at once.

Far too often, we settle for an area that is not performing simply because we like it. It’s where we grew up, or it’s where we went to school. These strong connections to our communities can indeed serve us, but it’s better to strike out in a new place regularly.

Change builds up our resilience and ability to handle stressful situations. It’s critical to our growth to let go of emotions and embrace the data. What data are we talking about? Retail data. Yes, we know that KMart is gone.

We also know that Sears closed department stores left and right. And yet, the biggest players in the commercial real estate space are still investing millions of dollars into retail space.

When the biggest investment groups in the country are purchasing retail space for big money, it’s time to pay attention and see how to take advantage of this trend yourself.

The Return of Retail?

We noticed that late last month Amazon launched an in-person clothing store called Amazon Style. If people really prefer online shopping to their offline retail counterparts, would Amazon really take this physical retail risk? Probably not.

Some industries lend themselves very well to an in-person experience, such as clothes shopping. While it’s true that you can indeed buy clothing online, the reality is that it’s hard to trust that everything fits properly.

Hidden Opportunities for Lease in Midland, TX

Could opportunities in Midland, TX give you a chance to really step up your revenue goals this year? Absolutely. Now, we know that Midland isn’t a city that most people think about very often.

However, this West Texas treasure is worth talking about. The city has a population of roughly 149,455. That’s a great population size that’s solidly mid-level for a city.

It isn’t too big, and it isn’t so small the neighbors will notice when you head out to enjoy the nightlife.

It’s literally between Fort Worth and El Paso, has its own airport, and gives you great access to the greater Big Bend region. You also get access to a very affluent population: the average household income is $114,023.

That certainly sounds like the people that call Midland, TX home have disposable income to spread around.

It’s got a history as a railroad town, and it’s brimming with amenities people look for in a city. Midland had the lowest unemployment rate in the United States in 2014, a stunning accomplishment.

Local Incentives in Midland, TX

If you’re looking deeper into getting retail space for lease in Midland, TX, it’s essential to know what resources you can access. A critical resource in the city is the Midland, Texas Development Corporation.

They run local initiatives, including the Midland Entrepreneurial Challenge and the Senior Life Midland program.

You can connect with them to discover these opportunities and locals that are open to joint ventures. Having locals that can help you understand the location is ideal. The Midland Development Corporate also has local partnerships with the University of Texas of the Permian Basin.

You never know when you’ll find great talent that can help you bring your business idea to life, so it pays to get as many introductions as possible.

What Types of Space Can You Lease in Midland, TX?

You have plenty of options when it comes to commercial spaces for lease in Midland. We wanted to highlight those options so you can make an informed decision. We know that if you are far away from the city of Midland, it might feel odd to invest time and money into a new venture far away from home. Yet the benefits outweigh the downsides, so let’s go check out those spaces.

Warehouse Space

Warehouse space is considered the bread and butter of commercial real estate, and with good reason. It isn’t just a place to store heavy boxes or heavy machinery. You can now convert warehouse space into other uses, like building an art studio or a modern event space.

Business Incubator Space

The difference between a craft space and a business incubator space is relatively small, but they do have different functions. Indeed, you could get a blank space to turn into your own business incubator, bringing your knowledge to people. People grow through connecting with others, and the need for more accessible business knowledge is always present.

Retail Space

Building an in-person shopping experience focused on customer experience is incredibly rewarding. For starters, bad service gets talked about endlessly. We’ve all seen negative reviews. But what about positive contributions through retail space?

You can unlock that for your business by setting out to serve customers. Midland is a place where people like to go shopping, as it makes them feel more connected to the community. If there’s something that you’ve always wanted to sell, building a custom building just to sell it is a little overboard.

Try this instead: look into retail space for lease in Midland, TX.

Considerations for the Future

Retail space in Midland, TX, is truly an overlooked opportunity. The local government wants to see more businesses make their way into the city. They have local business development programs to help people better understand what they need to do to get their business idea off the ground.

Just like with anything else in the world of commercial real estate, you should never assume that you have to do everything with your own money.

You never know: as you get connected with the local business community in Midland, you could find people that are very interested in working with you on your retail concept.

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