When owning, leasing, or managing a shopping centre, you want to reduce and remove the problem of vacancies. As leases end or pressures occur for some tenants, vacancies are a real problem that requires a strategic approach. It is, therefore, essential to have a lease renewal strategy and a tenant retention plan active. Do you…
When looking at a commercial property for sale or selling, there are plenty of things to check, but at the top of the list will be the tenancy mix and the income stream supported by the mix. In a retail property or an office property with many tenants, there will be challenges in getting across…
One way to improve a retail shopping centre is through rental optimisation. That is the rent paid by the tenant(s) and the total for the property throughout the year. If more rent can be produced, then that reflects better occupancy, better tenants, and customer interest and purchasing patterns. Without addressing the tenant mix and occupancy…
In the shopping centre industry you have to know where most of your customers come from and why they visit your property. When you clearly define those facts you have something to work with when it comes to property marketing and tenant selection. That can then improve your tenant mix over time and ultimately help…
Commercial property clients and customers today have all types of needs from an investment perspective. When you are involved in selling or leasing commercial real estate it pays to do a comprehensive needs analysis with your clients before you quote listings or undertake any property inspection or recommendation. Make sure that you have all the…
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…
Tenant mix analysis is a critical part of property performance. That is certainly the case in a retail property. The correct tenant decisions will underpin property income, customer sales, and lower the vacancy rate. When you are involved in managing or leasing a shopping center, the tenant mix planning and strategy process will form part…
When you are involved with a shopping centre from a leasing or management perspective, the tenant mix is something that you will spend a lot of time on. Given that most leases exist for a number of years the changes to tenant and lease location take time to implement. The changes that you make to…
If retail property is your ‘game’ as a leasing agent, then you will want to specialise because the players that you work with (landlords and tenants) will require real knowledge and experience as part of the services you provide. Why is this so? It is because the retail property segment is unique and a lot…
When you combine tenant types in a shopping center correctly, the tenant mix can be matched to the customers and increased sales can be the result. That’s how you will help make a shopping center successful. So let’s expand on that concept a bit further. To find the right tenants for a property it is…
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