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Proactive vs Reactive Leasing

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Profiled Shopping Centers

 

 

 

 

 

 

 

 

 

 

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PROACTIVE VS. REACTIVE LEASING
 

This website has been expanded with the intent of explaining how experienced brokers and developers find tenants for their properties. In addition how sophisticated expanding retailers find new locations to approve.

Proactive leasing is much more labor intensive then reactive leasing but it increases your chances of securing an expanding tenant by making them aware that you have a vacancy that meets their expansion site criteria.

DEVELOPER LEASING TOOLS

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Developers or single property owners are always looking for tenants to fill their vacancies and pay market rents.

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Developers can employ proactive or reactive leasing techniques.
 

          Reactive Leasing:

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Put up a sign which states space for sale or lease and a name and number to call.

 

          Proactive Leasing:

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Invest the time to research your property.

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Determine Traffic Counts.

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 Determine the square foot size of the development your parcel will support.

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Create an initial site plan with setbacks, parking spaces, area dedicated for dumpsters and access and exit routes identified.

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  Determine the demographic profile that surrounds your proposed development.

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Use the Retail Tenant Directory or Chain Store Guide to identify potential tenants that are targeting your state or community.\

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 Cross reference the square footage you have available for development against these potential tenants and their size requirements.

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Prepare a "package" of information as requested by the retailer to enable them to evaluate your potential location.

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 Follow-up with the retailer representative assigned to your geographic area to ensure they received your "package" and ask if any other information can be provided.

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 When the "for sale" or "for lease" sign is installed please ensure the square footage available is noted on the sign. This detail ensures any potential tenant driving by your site will immediately know if their store can "fit" in the building or development being leased.

 

RETAILER LEASING TOOLS

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Expanding retailers are always looking for vacancies or new developments that mirror their existing successful stores.

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 Most retailers invest the time to establish and advertise their site criteria of what they are looking for.

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There are 60 retailers profiled in this section which will be expanded as information on additional retailers is secured. Please understand that employee territories change and site criteria is refined over time. We at www.retailcriteria.com will do our best to ensure this information is as up to date as possible.

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List of 60 expanding retailers targeting the Northeast

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Since the site criteria the retailer uses to evaluate potential locations is specific we have included tools you can use to help these retailers find the type of locations they will approve and lease.

 

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Retailers looking for sites employ many avenues to discover potential development sites. www.loopnet.com is a subscription based national tool that allows you to sort and identify potential retail locations by state, city, county, square footage, price either for sale or lease, etc. Other search engines are also available depending on the area of the country you are targeting.

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Developer or brokerage websites: Note the web address on dominant broker signs in the community the retailer is targeting.

 

PRESENTATION TOOLS

Please review the retailers' site criteria. Please note most retailers are very specific in the information they need to evaluate a potential location. The tools below may aid you in your presentation to a potential retailer.
 

Also, if your proposed location DOES NOT mirror the specifics a retailer is looking for, please do not invest the time to submit the site. Way too many inexperienced brokers and developers take the approach of submitting sites to retailers that they want to lease to rather than approaching retailers that are actually looking for spaces that match the vacancy offered.


Many retailers do not include their site criteria on their websites. They do however distribute their criteria at the International Council of Shopping Center (www.ICSC.org) conventions across the country. These conventions are where hundreds if not thousands of ICSC members (retailers, developers, brokers, bankers, etc.) gather to network and exchange information about current and future commercial developments.

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How to prepare Traffic Counts under construction

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How to prepare Aerial Photographs under construction

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How to prepare Panoramic Photographs under construction

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How to secure Demographics under construction

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How to prepare a Site Plan under construction

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How to prepare Existing Conditions under construction

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How to prepare Proposed Improvements under construction

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New Small Shopping Center Sign example

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Retail Tenant Directory Information

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Chain Store Guide Information

We hope this information helps you fill your vacancies efficiently.
 

 
 
   
 

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