Central Purchasing Managers - What to Look for in a Real Estate Today
When it comes to the management and leasing strategy in a retail shopping center, as the property manager really need to know the type of tenant you require. The business plan of the property must establish clear criteria regarding the profile of the lease.
The business plan must take into account:
1. The mix of existing leases and missing links or changes to be incorporated into a leasing opportunity
2. The customer's planned participation pattern in the possession of the property
3. Expiration dates of existing leases, and that will impact the trade of adjacent leases
4. The activities of the anchor tenants in the retail property may have a flow through effect on the adjacent specialty leasing
5. The expected changes in customer demographics and local purchases
6. Your choices and between desirable and undesirable tenants within the property
7. Requirements for the expansion or contraction in the functioning of key tenants in the property.
8. Any existing capacity for the exercise of options under the mix of ownership and lease structure
9. The profile of the billing and sales results of existing tenants in the last 12 months
10. Any transfer or renewal of the strategies to be incorporated in negotiated leases
11. A summary of the incentives that are allowed in any situation another chance
12. A profile of the face projected and actual income, as it should apply to negotiating new leases.
Given the pressures on the economy at this time, vacancy factors on the properties of retailing can be a problem. An optimization scheme for tenants and tenant mix strategy underpin the performance of property and cash flows for the mall. This is where the manager of leasing and property manager can add significant value to the owner's investment plans.
Given all the demands and pressures to be balanced over a new lease, exactly what type of tenant for the property you require and how to find? Here are some ideas:
1. Identify the properties in the local area competing with your property. Visit and study the properties of its strategic role. Do you have a mixture of different lease and exactly who are the most successful tenants? Tenants will be selected their targets for the transfer of their property.
2. The Internet has placed a significant change or change to the retail tenant. Many products and services can and are being purchased through the Internet, this fact is the reduction in sales of some traditional retail tenants. The sale of music on compact disc is an example. Today you must choose the occupants of your property that is not affected by this change to basket World Wide Web.
3. Some tenants of sale are what we call specific destination. They appeal to people who have been given the specific offer of services or products. For example, can be post offices, banks, or Medicare. Customers always seek out and visit these leases anywhere and thus you can build your holiday mix around their sales and customer base.
4. Other properties of the local competition will be a source of research by the tenant. To attract local tenants that rent must be competitive terms, lease variable, and attractive incentives. Communicate your profile vacancy and leasing opportunities in the local business community and successful specialty tenants who can move the property.
5. Within the property the demographic of customers' preferences are offering products and services. You can and should build their tenancy and tenancy mix strategy around those requirements.
6. Each combination of retail tenant ownership and profile must be balanced between purchases of convenience stores, destination, anchor tenants, and special offers to coincide with the local buyer. Use these tenants to create groups within the property to extend the results of the visit and the sale of the buyers.
7. Their sales figures will be an attractive property to tenants looking for a new franchise opportunity. They have their historical sales figures and current grouping of retailers for the investigation of the relevant lease.
The selection of a retail tenant right, only done when you understand the demands of the real estate property, customer requirements, and changes and changes in the local housing market. Forward planning your leasing strategy and profile of the mixture of leasing are critical components to the strategy of property income.
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