There are a number of factors to consider in this retail shop leasing process, including optimising the current tenants as well as refining tenant placements and occupancy levels for the future.
Finally, and ultimately, the goal of a retail shop leasing review is to increase customer interest, retail sales, and return on investment for the shopping centre.
Tenants with a proven track record in marketing and retail are in high demand. Examine the experience of each tenant in the retail sector they operate in. Check out the leasing video for retail shopping centres below.
Tenant Retention Planning
What is a tenant retention plan and do you have one? The plan looks at the existing leasing, retail shop offering, the needs of tenants in leasing more or less space, plus the placement of tenants.
Everything can be improved in a shopping centre, and that is where the leasing plan and tenant retention plan has some significant value.
Start with this approach. You should take a good, hard look at what people can actually sell under their lease agreements.
In a retail shopping mall, allowing a permitted use approach in leasing is a smart move. Exclusivity should be avoided with your tenants.
Retail Tenant Shop Choices
Verify that all tenants are offering only what is requested of them and detailed in the lease. Optimize your existing retail tenant offerings and then work with the vacancies coming up or existing.
Where can you start with that? That needs analysis will necessitate extensive market research. Customers, tenants, financiers, and landlords will all have input or are of some value in the specialised retail shop leasing research, as will their opinions and needs.
You start your retail shop assessment with what you have, then you look to what you can improve. Before tackling the tenant mix and the vacancy leasing issues, thoroughly research the existing shopping centre and other competing properties.