For most of the history of retail investing the safe bets have been major markets like New York City, LA, Chicago and San Francisco. In 2019 that might not be the right strategy. These “gateway” markets have long been safe but many experts suggest investing in other markets where job growth is strongest and prices are more attractive. If you are looking to invest in retail here are a few markets to consider:
Raleigh, NC. The population boom that started in Raleigh in the 1990s shows no signs of slowing. The Research Triangle of Raleigh, Durham and Chapel Hill offer attractive growth and stability, at prices much lower than cities in the Carolinas like Charleston and Asheville that have smaller population numbers.
Jacksonville, FL. Consistently rated as one of the best markets for real estate investing, our home Jacksonville has a lot of growth happening south of the city center. Orange County, where we call home, along with the St. Augustine market offer suburban paradise and some of the most business-friendly governments in the country. That’s drawing new business and new construction in highly desired areas.
Denver, CO. While Denver is probably not the best city for new investors, it is one of the most consistently reliable non-gateway towns. Health is big in Denver, and retail focusing on organic, specialty grocery will do well in the city. Denver boasts a very young population and continues to draw people because it is one of the most economically-diverse cities in the country.
Nashville, TN. No longer just a country music hub, Nashville has done a great job drawing tech jobs to the city. With health and tech both expanding, Nashville has drawn a lot of new infrastructure projects designed to meet the demands of a growing population. In the retail world Nashville offers a nice mix of popular chains and mom and pop business. Retail vacancies in Nashville are some of the lowest in the country.
Dallas, TX. In 2017 alone retail rental prices rose over $15 per square foot. Dallas offers reliable population growth and land to expand. Net migration to Dallas in 2017 was nearly 90,000 and the Dallas-Arlington area offers competitive salaries for professionals. Austin is another safe bet in Texas and Dallas acts as the gateway to the Dallas-Austin-Houston triangle that has boomed in the last decade.
If you are looking to invest in the Jacksonville retail market let us help. Landmark has years of experience in the Jacksonville market and can work with you regardless of your experience with retail investing. Contact us to set up a meeting to tell us about your retail investing needs. For more retail news and advice like us on Facebook.