"XYZ Looking for Sites ???"

September 5, 2017

The other day, we got yet another advertisement from a brokerage firm that was searching for space for one of their retail clients and a request to "send them opportunities".  Ironically, we don't list properties but we do represent one of their competitors so we now know where they are expanding - and thanks to their agent for this handy piece of market info!.  

 

While announcing that you are representing a tenant to the industry can be beneficial, requesting that other brokerage firms send you their listings is  ...  not something we would recommend.  Aside from confidentiality, we believe site selection and procurement is a proactive and targeted process.   Especially for retailers, service providers and restaurants (RS&R's), location is critical and the tenant is essentially buying quality and quality of potential customer traffic flows through their location / lease rates.  Conducting enough market research and demographics is critical to success, while actively targeting suitable locations in the specific area is the next logical step. Typically, the best spaces aren't vacant, so calling leasing signs is a great way to pick up the "leftovers". If you are merely sending out emails to see what's out there, either your business plan may need some rethinking or perhaps your broker isn't putting in the logical steps to solidify a good location.   

 

If location has a tangible effect on your revenues, we recommend putting together a solid strategic plan and working with specialists to reach your objectives.    The world's leading brands do not use listing agents or large brokerage agencies to find them space.  They use specialized tenant advisory firms to secure the best locations proactively. 

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