You need a new space, and you have more than one commercial real estate broker who wants to help you find it. One of them asks you to sign an exclusivity agreement. What should you do?

Plenty of people shop at brick-and-mortar retail businesses — around 87%, in fact.

2400 West Coast Hwy / Newport Beach, CA 92663

Sol Grill is a charming well-established restaurant located on Pacific Coast Highway in Newport Beach. When you enter Sol Grill, you oftentimes are greeted by Misty Thorne, restaurant owner and personable host. The specialties of this Newport Beach staple include signature Filet Mignon Meatballs, Halibut Piccata, Rack of Lamb, Lobster Ravioli and of course their authentic and delicious Sangria.

Your retail location can make or break your business. It's true that when it comes to business success, the over-simplified phrase, “location, location, location" reigns. But, what exactly does that mean and how can you be sure that the "location" is going to serve you well? Let’s look at the key indicators for a successful location for your business, whether you’re just opening or you’re seeking a new space.

Irvine, CA 92614

The Tax Law Office of David W. Klasing is a boutique California tax firm comprised of award-winning, nationally recognized Tax Attorneys and CPAs. Led by David Klasing, Esq. CPA M.S., a successful and skilled attorney and CPA, the office expertly handles all civil, criminal, domestic, and international tax matters. David is a smart business man with a sharp knowledge of growth and of reaching full potential.

161 Fashion Lane / Ste 207 / Tustin, CA 92780

Agapay was founded on the idea that credit card payment processing should be ethical and give back to the community. When Dan Han opened the doors of Agapay in 2012, he did so with the belief that customers deserved honest cost disclosure. He focused on an educational approach that has gained the trust and credibility among his clients.

3333 Bear St. / Unit 316 / Costa Mesa, CA 92626

Chef Ross Pangilian’s newest restaurant, Terrace by Mix Mix showcases his eclectic style, which is influenced by French, Italian, and modern Filipino flavors, as well as his refined technique. As you walk into Terrace by Mix Mix, which is in the 3rd level of the Crate and Barrel wing in South Coast Plaza, you’ll have the option of inviting indoor seating or outdoor seating in the spacious and beautiful outdoor patio, which is an ideal location for private events and parties.

We all know that retail has changed dramatically in the last decade. Where once we relied on department stores and indoor malls for shopping, we now count on convenience, a shift towards restaurants, travel, and niched shops, all with a greater focus on the experience of the consumer. If you own or are considering opening a retail space, you’re likely wondering whether these insights can help you survive and thrive in today’s retail market.

Whether this is your first office space move or you’ve relocated several times and are experienced and well prepared, you face critical decisions when finding a new office space. 

One thing is certain in business: where you operate dictates your success.