If people like you they will listen to you but when they trust you they will do business with you. Now that’s the major drive for our existence as Allantel Advisors. The brand image that we have developed has positioned the mind of our clients in the form of Best Retail Leasing Consulting firm.
In this blog, we want to share our experience on the Key to Successful Retail Leasing.
So, what’s the secret to creating the “right” tenant mix?
There’s no secret to it at all. It’s about analysis and understanding of two key factors: the demographics of the local market and the traffic drivers that deliver shoppers to the property.
As a leading retail leasing consulting firm with years of success, we consider these two as the foundation of tenanting strategy.
We study the character of each market, including income levels, population, competition, and vehicular traffic patterns. There’s no template here. Each market is individual. What works in one, won’t necessarily work in another.
The right tenant mix in retail leasing is about variety. You want to combine big brand names in diverse categories with day-to-day-service providers. We look for an anchor store for each of our centers. This is the key driver. Typically, the anchor is a grocer.
Why are grocers such sought-after anchors?
The average consumer makes two to three grocery buying trips per week. That frequency benefits every store in the center, as shoppers combine their errands or act on impulse to buy something at a neighboring store or grab a bite to eat. The pharmacy, the dry cleaner, the dollar store, the nail salon, the pizzeria, and others all get spillover from that anchor traffic. And obviously, grocers are selling goods that people need, so even in a negative economic cycle, they still draw shoppers. That’s why they’re such a cornerstone in a successful retail leasing strategy. Nothing matches them for pulling in a steady flow of shoppers.
What are some other must-have tenants?
Fast-casual restaurant chains, large brand name drug stores, discount fashion retailers, we’ve found these to be strong traffic drivers.
Being a property owner, you require maximum visibility and access to tenants. More often the toughest part of leasing your property is getting a potent customer to find you. The role of credibility, complementary need of the buyer and the Therefore we don’t wait for that right customer rather keeps a proactive record of various buyers. Meanwhile assessing both the parties we try making a best match to serve both of your needs. This enhances a win-win situation for everyone in connection. In fact the ultimate purpose of our hard work is to verify that both you and your tenants avail no less than supreme customer service.
Our leasing team works in synchronicity with the property management team in order to find probable retail prospects that would apt with the demographic we are looking forward to. The team is also liable to find out who is seeking for retailers and looking for space. Mere filling the space is not our agenda, but finding a suitable tenant who loves the space and moreover gets invested in that space, surely is.
Till next time;