Buying a strip mall as an investment? Do you know if there has ever been a drycleaners in that strip mall before? Were they cleaning on the premises or was it strickly just a drop off and pick up store?
This a very informative string of Tweets from The StripMallGuy about concerns regarding dry cleaning tenants and if they have every used the space you are considering buying as you evaluate a strip mall. He has an entire thread and I would encourage you to read it if you’re in the business of buying strip malls. And to his point…if you are a seller trying to sell a strip mall, at least consider getting a Phase 1 study completed prior to listing the property. It will make life easier on everyone and not waste buyers’ time nor their brokers. Give him a follow on Twitter. He always has valuable insights. You can follow me as well at @costsegbuilding.