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Proactive vs Reactive Leasing
Experience and Photo
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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.
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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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