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We in the commercial real estate world have in some respects encountered half-truths for years. We’ve been told real estate is all about “location, location, location.” I will say that this is still true for the retail industry and residential property. We may want to live in one neighborhood over another, or have our children go to one school over another. And traditional brick-and-mortar retailers may choose one corner over another, but those three “Ls” mean less and less when it comes to office and industrial site selection. I tell my clients it is not the three “Ls” that drive corporate relocations and expansions, it’s the four “Ts”: talent, technology, transportation, and taxes. Companies can make almost any parcel of land work (excluding environmental inadequacies) if these four critical pillars are fully understood and adequately addressed.
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JD Milburn
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