- How Much Money Is Needed To Invest In Rental Property?
- Should A Real Estate Investor Get An Agent’s License?
- 5 Big Factors That Affect The Costs Of Renovating Your Home
- SIBOR Hike – What You Can Do With Your Current Loan
- 6 Basic Don’ts Of Real Estate Negotiation Tactics
- Will New Condo Relaunches Trigger The Great Property Sale We Have All Been Waiting For?
- 10 Proximity Amenities That Add Value To Real Estate
- How To Get Personal Loans More Easily With Good Credit
The attraction principle is a theory that commercial hubs have a strong pulling factor for people to work there, and for consumers to patronize.
This can be often observed in commercial hubs with a cluster of office buildings and shopping malls in close proximity creating a hive of activity within the area.
Businesses that set up offices in the location bring the crowd to retailers, and the success of retailers bring more consumers to the area.
These areas often have a host of diverse retailers offering various types of products and services to cater to every need that consumers desire.
There would also be more than one anchor tenant in the area. Sometimes even within the same building.
The attraction principle in real estate is so effective that when a commercial hub gets too crowded with foot traffic, city planners often build new smaller hubs nearby to pull consumers away from the main center.
This is to ease the burden on infrastructure that can negatively affect the attractiveness of a hub.