In real estate, like with most businesses, the goal is to be where your target audience is. There is also something to be said for being "first in". Suppose you own or represent (broker, investor) a retail jewelry store which is looking to expand.
There could be a good as gold opportunity (pun intended) on Broadway in Manhattan between 44th and 45th Streets for a new location ready within the next four to five years. You won't find that opportunity reading jewelry industry publications. The (below linked) story about a major casino project targeting that block with a 992 guest room hotel will result in a constant flow of "big spenders" going to that area, whether local or by travel. It's a chance to be where the target audience is. Or, in this case, will be.
Chances are that other jewelry store owners are not yet aware of this new information. Pouncing on the opportunity before they do could save many thousands of dollars. Perhaps it could be the difference of making the initial investment successful. Meanwhile, current landlords of retail and office space nearby may be looking for a strong long-term tenant and would be willing to negotiate to get one. The price you could negotiate today figures to be much less than what you would get a couple years from now when the casino and hotel are under construction and the word is out.
This is the same opportunity whether the jewelry business is in NYC or anywhere else. Of course, a jewelry store is just ONE example of the possibilities for upscale retailers. It's safe to say that some of the upscale retailers (if not most) are not thinking about positioning themselves for five or more years down the road.
If your research person or team isn't coming up with future opportunities to improve your business and/or investing for the long term, you are missing out. Being "first in" leads to long term profits and benefits.
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