Retail Shopping Center Management and Leasing is potentially a lucrative part of the real estate business. In saying that, the right people with the specialized expertise are required in the management and leasing team to produce the retail results. (NB – you can get our shopping center leasing and management tips here) Those property…
When you manage, lease, or own a retail shopping center, the property evaluation process is quite important. Each year as part of the property business plan you can update the property review and see what has changed. (NB – you can get our retail and commercial property training here) You can see where things may…
The retail tenant prospecting process in commercial real estate brokerage is quite unique and special. The retail section of the property market requires understanding and dedicated focus if a reasonable income is to be extracted from sales and leasing activity. So let’s look at some ways to do that and how you can get involved…
In retail shopping centres you choose tenants based on business history and tenant types. Essentially you are choosing the best tenants to optimise property income and occupancy. If you have the right tenant mix then customers will keep coming back to the property over time. In retail that is what you want. Any high quality…
Every shopping centre today should have an effective and direct marketing strategy that is active and underway. That marketing strategy should be monitored and tracked for effectiveness. In each period of 12 months a shopping centre should be promoted comprehensively and thoroughly throughout the targeted customer audience and the location. Building the retail trade is…
The trade area for a shopping center should be assessed regularly to see what factors of retail attraction are changing in the overall location. That assessment should be part of the retail business plan for the property. Having worked with many shopping centers as part of improving property performance and tenant offerings, I have always…
When you are involved in retail property leasing and management, the success of the retail tenant mix really depends on setting the right priorities in annual property planning. Each year the tenant placement and leasing strategy for the asset should involve a few key decisions to match the investment targets of the landlord and the…
Every retail shopping centre should have a customer service plan. That plan can and should be part of the overall property business plan created as part of the centre management strategy. The object of servicing retail customers is to encourage ongoing sales and repeat visits to the property. Customer service is therefore a big part…
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