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References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.
Site Selection Basics
Location, Location, Location: Decoding the Art and Science of Strategic Business Site Selection (Pittsburgh Post-Gazette, Aug. 28, 2023) E
With the stakes higher than ever, the science around business site selection has had to become more precise. Gut instincts still play a role in decision making, but the technology around site selection has advanced in recent years to a point where cell phone tracking data has been added to the tool box.
The Complete Guide to Real Estate Site Selection (QuickBase, Sep. 27, 2022)
If the location will serve a commercial purpose, then it’s also important to factor in the competition. Are there stores nearby that indicate there is a market for your business? Are there any businesses in the area that offer the same products and services? These are questions that business owners have to consider before settling on a location.
The Modern Site Selection Process: 8 Steps to Finding the Optimal Location (Site Selection, Aug. 8, 2022)
Upon agreeing on the shortlisted cities, the project team embarks on site visits for thorough community due diligence. During these visits, lasting one to two days for domestic locations and up to a week for international ones, the team meets with community leaders, economic development officials, workforce representatives, local employers, utility providers and real estate sites. Gathering anecdotal evidence is essential for understanding the qualitative differences between the finalist locations.
Seven Signs of a New Site Selection Reality (Site Selection, Jan. 2022) E
- Distribution and logistics projects will again dominate the headlines in 2022.
- Sunbelt states maintained their status as the most favored business climates in America.
- Most corporate clients are expected to expand their facilities sometime this year.
- Reshoring projects are here to stay for the foreseeable future.
- Suburban and rural communities will benet as more employers look outside of large central cities to
- establish new workplace hubs.
- Remote working has become a permanent part of the new workplace landscape.
- Governmental mismanagement continues to be the main barrier to getting deals done.
Site Selection for Office & Retail Properties
Looking for a New Office for Your Team in 2023? Here's What to Take into Account (Entrepreneur, Feb. 22, 2023)
First of all, for people going back to the office, a long commute could actually be a deal-breaker. A survey among London respondents revealed that nearly two-thirds of them feel that it is more important now than before the pandemic, to be close to various amenities, so look for spaces that are either in your proximity or that have satellite spaces in multiple areas.
The Power of Where: 5 Use Cases for Retail Location Based Data (Precisely, Dec. 10, 2022)
With advanced location intelligence, retailers can work with dynamic map visualizations that reveal populations and demographic groupings. A high-end clothing retailer, for example, can explore potential new locations in the context of surrounding areas and traffic patterns. By visualizing the catchment area for a potential location, retailers can quickly zero in on high-quality sites.
10 Things to Look for in a New Office Space (Zommick McMahon Commercial Real Estate, Oct. 14, 2022)
Consider whether potential properties will have enough space for your business to grow. Likewise, stray from offices with too much space that you cannot afford to fill. As a general rule, allow for around 130 square feet of space per person for those who will regularly be in the office. Since business sizes vary, consider your needs before deciding.
Site Selection for Restaurants & Hospitality Properties
Main Factors to Consider for Designing a Hotel (California Lodging investment Conference, Apr. 5, 2022)
One of the most important considerations when designing a hotel is the location. The location of the hotel can have a significant impact on its success. The hotel should be in an area that is easily accessible to guests and has a good view. It should be situated in an area that is safe, secure, and well-connected to transportation options.
Tips for Selecting the Right Property for Your Restaurant (The TJB American Business Magazine, Apr. 11, 2023)
Local laws and regulations: Before choosing a property, research local laws and regulations that may impact your restaurant. For example, some areas may have restrictions on outdoor seating or live music, which could affect your restaurant’s operations.
Restaurant Location Strategy: The Ultimate Guide (Beambox, Mar. 7, 2023)
Access to reliable infrastructure and utilities will make running your restaurant much easier. Researching the infrastructure and utilities available in the area will help you decide the best location for your restaurant.
Site Selection for Warehouse Facilities & Labs
Mastering Warehouse Site Selection: Key Considerations for Optimal Logistics Operations (Amware, Jul. 27, 2023)
Nature of Goods to be Stored: The nature of the products you intend to warehouse plays a vital role in site selection. If your inventory includes hazardous or flammable materials, food items, or frozen goods, it’s essential to ensure that the chosen warehouse is equipped to handle such specialized storage requirements safely.
5 Things to Consider When Conducting Laboratory Site Selection (GBA, Mar. 8, 2023)
The first consideration for selecting a site for a new laboratory is its location. Because of the sensitive nature of scientific research, along with a host of infrastructure, utility, and regulation needs, there are a number of criteria and factors that need to be met before picking a site location for a new laboratory. For instance, zoning regulations play a crucial role in determining the types of activities that can be conducted in a particular area. These regulations are put in place to ensure that the use of land is consistent with the community’s goals and objectives. Therefore, before selecting a site for a new laboratory, it is essential to review the zoning regulations of the area.
How to Choose the Best Warehouse Location for Your Business (Crown LSP, Jan. 30, 2023)
The distance between you and your vendors contributes directly to your overhead and risk. The closer you are, the more money your company saves on freight. Plus, you’ll mitigate the risks associated with transportation disruptions, which can be especially impactful for perishable goods.
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
Managing the Complexities of Real Estate Development (eBook)
Multifamily Housing Development: Ten Case Studies of Innovative Projects (eBook)
The Complete Guide to Locating and Profiting from Emerging Real Estate Markets (eBook)
The Dynamics of Property Location (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Resort Development (Washington, D.C.: Urban Land Institute, 2008) NAC 1800 Ur1rd1
Developing Active Adult Retirement Communities (Washington, D.C.: Urban Land Institute, 2001) NAC 1800 Ur1sd
Developing Retail Entertainment Destinations (Washington, D.C.: Urban Land Institute, 2001) NAC 1800 Ur1dr
Developing Sports, Convention, and Performing Arts Centers (Washington, D.C.: Urban Land Institute, 2001) NAC 6880 Ur1d
Multifamily Housing Development Handbook (Washington, D.C.: Urban Land Institute, 2000) HD 1377 Ur1mh
Websites
ULI provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is an independent global nonprofit supported by members representing the entire spectrum of real estate development and land use disciplines.
The Magazine of Corporate Expansion & Area Economic Development
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