Of all the areas involved in effectively managing commercial retail property, leasing is often the least desirable and most misunderstood.
Everyone knows how to keep the parking lot clean and the building painted…
But do you know how to craft and negotiate a lease to attract QUALITY tenants?
Do you know how to establish and maintain leasing guidelines?
Crafting a lease that will attract long term tenants involves:
- Conducting a Complete Evaluation of the Property
- Accurately Evaluating the Competition
- Determining Appropriate Rental Rates
- Creating a Strategic Plan
And it doesn’t stop there.
That’s just to get the ball rolling.
Once the tenant is in, the focus must switch to tenant retention.
This is a process in and of itself.
If there are vacancies, an effective advertising campaign must be crafted.
There are physical improvements.
Progress and setbacks must be monitored and reported accurately and timely.
These are all the components of a good leasing strategy that can take a commercial property from good to great.
Our tenant representative service team is committed to aiding our clients in meeting their objectives and providing suggestions for continued improvement.
We know what it takes to provide a stellar shopping destination.
The first step is to attract the right tenants.
Again, we put this first and foremost.
A lease is like a partnership agreement, and it should be treated this way. It establishes the parameters of your relationship. If the lease is not properly drafted, issues can arise, and small problems can become major.
A savvy tenant can request changes, and if you don’t fully understand the leasing process, unforeseen difficulties may arise. Hindsight is 20/20, and very costly. Experience is the only true protection when it comes to leasing. Especially commercial leasing.
Retail Solutions Advisors has over 100 years of experience in commercial real estate, with a focus specifically on retail. Our hindsight extends for over a century. There’s nothing out there that we have not experienced, nor overcome. It truly is mind boggling how many landlords try to go it alone, only to find themselves in a very expensive trial and error situation.
And at the end of it all…
They usually end up in our office anyway.
We’re not saying that complications will never arise. Of course they will. But we recognize situations as they are developing. We know the signs. We can head off most issues before they escalate.
And the ones that slip through…
We have the experience to handle them quickly.
Retail leasing is an art within an art. Do it right, and your headaches can seemingly disappear. Do it wrong, and the simplest of problems can become almost unmanageable.
Give us a call, and one of our tenant representative team members will get you on the path to eliminating the worries that accompany Retail Leasing.