As president of the Granbury Association of Realtors, Paula McDonald writes a monthly column for the organization. The GAR provides services and resources to the Realtors of Hood and Somervell counties.
The Hood County area has a diverse commercial real estate market. Everything from raw land for development, smaller tracts, retail space, warehouse, and professional office space, there are many opportunities. Although we are a smaller market for commercial real estate, surprisingly, Hood County has numerous types of properties for a variety of businesses.
There are many additional steps involved when seeking commercial sites. Once a site or building has been selected, a due diligence period is determined while the client performs the necessary studies to discover if the business is viable for the land or the space. It is important to understand this feasibility period can vary and may often take many months.
If you are searching for a commercial site, having your business plan ready before-hand is paramount. The more up-front work you can do, the better it will be as you navigate the commercial real estate process. Sellers, lenders and city officials will need as much data as possible in order to make sound decisions.
The commercial real estate market was quite slow earlier in the year during the shutdown. However, quite recently, we are seeing a surge in commercial properties going under contract in Hood County. Just as we are seeing a decrease in the number of the residential inventory, our commercial inventory is also experiencing a decrease in available properties.
The good news is new businesses are coming to the area offering innovative commercial concepts, exciting restaurant options, and more shopping opportunities. As Hood County continues to expand and grow, it makes sense that commercial real estate would also experience a brisk market.
You can find a great list of active Realtors from the Granbury Association of Realtors website: www.granburyrealtors.com. Seek out an agent for commercial real estate who can assist you in your areas of need. Make sure and interview your agent regarding their commercial real estate experience. We are ready to help you find that perfect commercial site!
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