Finding tenants to fill vacancies in shopping centres is always an issue. The problem is that there are many shops in a typical shopping centre, and for that reason, there are greater chances of vacancies. Churn happens in shop leasing, so be prepared for it. If you are a shopping centre owner or manager, here…
When you manage or lease a commercial or retail property, it is wise and crucial to have a strategy for handling vacancies and tenant movement. Given the size of the tenancy mix and the property’s positioning, tenants will come and go. Having a tenant turnover checklist and protocol is a good idea and necessary for…
Some retail shopping centers need refreshing and repackaging from time to time. That strategy and approach help when it comes to sustaining customer interest and attracting ongoing retail sales. The approach to shopping center repackaging can be merged into the retail business plan strategy for the property over time. It is worth remembering that a…
When you manage a shopping center, the things constantly happening in and around the property must be kept under control. The typical retail property is like a large ‘ship’ or tourist vessel, where events are happening on a daily basis. (N.B. these ideas are also sent out to regularly to our friends in Commercial Real…
In a retail shopping centre the concept of a customer service station works well, particularly with the bigger retail properties. When you have plenty of people walking around a retail property looking to purchase goods and services, there can be confusion and special needs evolving with shoppers; those needs should be addressed effectively so that…
Here is a short video explaining the parts of a Retail Shopping Centre Asset Plan and the things that you should consider in creating one. When you manage a shopping center there are many things to consider and that is why the Asset Plan process brings it all together. I have worked on quite a…
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