compatible tenants?
hi bp
How are you?
Thanks as always in advance.
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So I have a mix use building.
I have put in a restaurant business (new business- good food and rating so far).
Now I have a few prospects for the other unit.
How important in the tenants compatibility??
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I have a martial arts school that does kids business between after school to dinner hours. 3-8pm and adult/private in the ams.
And maybe a used furniture store.
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Assuming for arguement sake they are equal. Same build out cost (vanilla space and tenant outfit own needs)
Rent very similar terms, $ and years
Both existing business needing different space. Expand (furniture), move (martial arts)
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My thinking is the martial arts, they bring more constant flow of ppl to the area. And will generate more business for the restaurant. Kids, exercise and dinner hours. Bored moms waiting for kids....
Mutual benefit.. Both tenant will rent longer????
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My husband's thinking is $$$ whatever bring more CF. Best terms
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I'm afraid that if furniture comes in, no added benefit. If he goes, restaurant may go too?? Restaurant is doing steady business. Just started, but any added free Mktg will help ;)
Your thoughts???