Why the East Trail ? - September, 2014
From a commercial real estate standpoint the answer is simple: accelerating population, variety of product, gainful conditions for buyers, and reality of proximity.
Accelerating population: Residential developers are currently on track to deliver 10,000+ homes along the East Trail stemming from the Rattlesnake Hammock-951 corridor within the next two to five years. If you add these new households to the existing population you’ve got a substantial customer base. More customers mean more demand for goods and services. For businesses along the East Trail this means your business will receive increasing exposure. More exposure means more customers. More customers and more attention ultimately means increased retailer draw. National retailers, for example, base much of their site selection on a location’s core demographics – like population.
Variety of product for tenants: The East Trail has something for everybody, so to speak. Existing shopping centers and office buildings, second generation redevelopment sites, late-model gray shell space (ie: buildings built between 2000-2010 containing never-occupied, raw space), new construction AND vacant land parcels.
Gainful conditions for buyers: Economics 101, healthy supply of product = lower prices. Relative to its northbound counterpart, the east-running section of US 41 isa bargain. Another advantage of the East Trail is itscomparative agility of use in terms of zoning. Sites with C-4 and C-5 zoning allow for a broader variety of commercial use and better adaptability to accommodate tenants.
Reality of proximity: The East Trail is not, in fact, “way out there”. As a 5th Avenue South-centric town we may be inclined to think of the US41 East/951 intersection as located in another time zone but it is actually 8.1 miles from, say for example, Bistro 821 (on 5th Ave S). It is the very same distance from Bistro 821 to The Mercato in North Naples. The distance to US41 East /Rattlesnake Hammock intersection is 3.9 miles – closer than a trip to Waterside Shops (5.4 miles). This false perception of distance is only temporary – reality is the commercial corridor of the East Trail is well within reach of Downtown Naples.
Whether it is the final frontier – or the “crouching tiger hidden dragon” – for local commercial enterprise, the East Trail will ultimately make sense. And in a short matter of time we will reminisce on all the empty space and cheap deals way out there on the East Trail.