Tuesday, April 23, 2013
Blog Assignment #6- Property Type
If I were to invest in a property type in Sugar Land, TX in the summer of 2013 I would look into retail space. Given the boom of attractions in Sugar Land such as town center, restaurants,malls, and the Skeeter's baseball team there is a ton of foot traffic along the city. If I had to pick a specific location to put my retail space it would be in town center. According to city-data.com, town center is located in a high income area. The surrounding neighborhoods are all considered to be high income, which helps when trying to make a retail space thrive. The website also shows that the location is also almost 100% families, which is perfect for town center. Seeing as town center is full of restaurants and shops it is a great place for a family to go walking around on a Sunday afternoon. In 2007, Sugar Land alone had retail sales of $1,719,913 and a retail sales per capita of $21,716 compared to TX which had 13,016. (http://quickfacts.census.gov/qfd/states/48/4870808.html) I think that as long as you are bringing in a good business with great service, retail space would be a great investment in Sugar Land, TX.
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