When you take over the management and or leasing of a retail property or shopping center there are plenty of things to delve into straight away. There are facts to explore, tenants to understand and leases to review. I like to take the checklist approach to reviewing any retail property. I have put together this…
A tenant mix will change quite a lot of things in investment property performance, be it in an office or retail property. A good tenant mix will support income and occupancy, whilst a poor mix will lift vacancy factors and upset rental returns. Tenant Mix Assessment So a property manager or leasing expert should be…
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…
The retail leasing process is quite special for a number of reasons. If you work in retail leasing or shopping centre management then it is wise to fully understand the retail property market segment and the people that you are leasing space to. Retail is not like an office or industrial property; it is geared…
There is a ratio of great importance in shopping center operations and performance today. It is essentially the number of customers visiting the property in a regular ongoing way. When you know the number of customers coming to your shopping center, you can do something about increasing it. A successful shopping center can be driven…
When you are designing a retail shopping center for successful trading and performance, many issues are of concern, not the least of which is the tenant mix. Creating that ideal mix of anchor tenants and specialty tenants requires knowledge and planning. Franchise groups should be a key component of the overall mix. So the message…
Vacancies in shop leasing can be a real drag on shopping centre performance and retail sales. Any current or upcoming shop vacancy in a tenant mix should be resolved quickly and directly. It is important that the customers to the property do not feel that there is an issue in occupancy and retail offering. …
In retail shopping center management and leasing, the threat of a vacant shop and the associated loss of rent can always be a major problem in rental cash flow for your landlord clients. The older the property, the more challenging the tenant mix and ongoing sales results can be. The size of the retail shop…
Franchise tenants today usually bring desirable leasing results to most investment properties. That being said, there is a need to understand the differences in leasing a property or premises to a franchise tenant verses a traditional small family business. Franchise tenants are different when it comes to lease occupancy. Landlords should adjust their leasing targets…
Local businesses and retailers are most likely to be the best prospects for leasing vacant premises in any investment property. That is because they understand the area of the city and are more inclined to lease locally. It stands to reason that any commercial property leasing agent should have an ongoing strategy for connecting with…
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