Retail Zoo’s Post

In retail real estate there are landlords that hire “tenant rep” brokers because they believe they will bring their tenant clients to their center. This is not the way. A good landlord rep broker would be able to reach out to the tenant brokers either way to assure your property is getting the attention. If your concern is that the tenant rep broker would only present the space if he was listing your property then you have found yourself someone who would hurt you as they would their tenant client.

How much is the actual cost of leasing retail space? In this article, we are going to discuss the operation of retail leases. How to best budget monthly rent for a new retail business and the additional costs to be taken into consideration to help understand the true cost of renting retail space. The most important forms of retail transactions. Finding commercial rental space can confuse the ground. You don't have two identical leases, even with the same landlord, the same rental office, or the same landlord. It helps to understand the key types of retail leases when reviewing retail commercial accommodation for leasing purposes. Categories of retail leases: · A gross lease is an all-inclusive retail lease that consists of a one-time payment for everything, including utilities and net triple expenses. The modified gross lease includes base rent and certain tenant expenses such as utilities or janitorial services. · A net lease for retail space means that the tenant pays basic rent, utilities, and property tax (which is the "net one-time rent"). · The double net lease is when the retail lessee pays basic rent, utilities, property tax, and the proportionate share of insurance on the property. · The triple net lease is typical for basic tenants or individual properties and means that the tenant pays basic rent, utilities, property taxes, insurance, and building repairs. The proportion of retail leases. Individual renters whose rent is in percentage pay a lower fixed base rent each month, their share of net costs, and a percentage of gross monthly sales in the form of incremental rent. While the payment of a percentage of income to an owner may seem unfair at first glance, the percentage of retail leases can be beneficial to both the owner and the tenant. Landlords are encouraged to maintain rental space as a commercial retail property in perfect condition to attract pedestrian traffic. How does a retail percentage work? Say a retail tenant has a basic monthly rent (including net charges) of $7,500 per month and pays 3% of their gross monthly sales of $50,000 or more. If the tenant's gross sales this month were $125,000, the total rental rate would be $9,750: · Base rent = $7,500 · Percentage rent = $125,000 – $50,000 = $75,000 x 3% = $2,250 · Total rent = $7,500 base + $2,250 percentage = $9,750 Type of retail tenant and the average percentage of sales expended on rent. · Electronics and appliance stores — 2.09% · Health and personal care shops — 3.37% · General merchandise stores — 3.86% · Food and drink establishments — 5.81% · Furniture and home furnishing stores — 5.98% · Clothing and accessory outlets — 7.66% · Calculating the Monthly Rent for a Retail Space

Over 10 years, we have aggregated #data at over $1B of projects in NY. This has allowed us to implement a #datastrategy and #grow The Leasing Experts (Multifamily Market Makers) into the TOP BROKERAGE by number of transactions - per MLS rankings. More #realestate and #development companies need to have a #data and #AIstrategy in place to help them capitalize on #insights - For that reason, Julian Diaz and I are building Foretold - an AI powered platform to accelerate decision making. Before #underwriting can happen, you need the data. We have it and we are here to help.

Leasing retail space in Anchorage, Alaska, offers businesses the opportunity to tap into a vibrant and diverse market. Whether you're launching a new storefront or expanding your retail footprint, navigating the leasing process requires careful planning and consideration. Here's a comprehensive guide to help you lease retail space in Anchorage successfully.

My Sweetest Spot, in retail! 5000-8000 SF Multi-Tenant Credit or local tenancy One or two vacancies Mis-managed Decent WALT Why do I like this. I have found these centers to be extremely stable. If one of my tenants leaves, I backfill the space easily. The low cost of tenant improvement for these retailers is also very attractive in re-tenanting space. Usually the leases are longer and you can deal with one or two tenants leaving and continue to pay your investors. I would say they are a little more asset management intensive the bigger the retail centers get and more tenants you have, but I will take that over a single tenant asset, which if they move out over night you are a bit stuck. Not saying I don't like single tenant, but prefer multi-tenant. Send me any deals you may have. We are looking to deploy cash.

ICYMI VIDEO: Craig Patterson, Publisher at Retail Insider, and Casdin Parr, Vice President Retail Advisory Services at JLL Canada, discuss the current state of Canada’s retail leasing market, delving into the challenges and opportunities facing various retail sectors. They explore how high street retail in cities like Toronto and Vancouver is experiencing a resurgence, with significant openings. Parr highlights the momentum in Bloor-Yorkville in Toronto, and the revival of Ste- Catherine Street in Montreal as key indicators of positive trends in high street retail. The luxury retail segment is discussed, which remains strong despite economic uncertainties. Parr explains that while the demand for luxury retail continues, there is a more tempered approach to expansion, with brands planning their capital investments carefully. Notable developments include the upcoming Royalmont in Montreal and Oakridge Park in Vancouver, both set to introduce new luxury brands to the Canadian market. Further, they discuss the impact of major retail developments and tenant movements in various regions. From Simons entering the Toronto market to the redevelopment of Nordstrom’s space in Vancouver, these changes signal significant shifts in the retail landscape. Parr emphasizes the robust demand for retail spaces in Edmonton and Calgary, driven by strong local economies and consumer responses. https://lnkd.in/gaeHgrZH #business #news #retail #CRE #realestate #leasing JLL Casdin Parr

JSE-listed Growthpoint Properties’ leasing initiatives and re-tenanting across its retail portfolio is paying off with the company seeing reduced vacancies and improved rentals. In the three months ended September 30, retail vacancies reduced from 6.3% to 6%. The company expects these figures to improve further once key redevelopments, which will be fully let, are completed. “Our focus on tenant retention is apparent in the high renewal success rate of 91.5% from 83.3% during the 2023 financial year,” said Gavin Jones, Growthpoint’s head of retail asset management. Rental reversions improved from -9.1% to 2.3%, with arrears improving from R40.3m to R37m. Jones said for the remainder of the financial year, the fund will not maintain high retention levels as Game stores at Brooklyn Mall and Alberton City will not renew their leases. Several stores within the portfolio will be reducing space. Edgars occupies 4.2% of the portfolio or 52,000sqm of gross lettable area with stores ranging from 1,500sqm -6,400sqm. Growthpoint is working with the Edgars team on a strategy to reduce the size of the retailer’s stores, Jones said. In some instances, Growthpoint is negotiating with the retailer about the amount of space to be reduced so it can find innovative ways to lease that space. The company has also discussed right sizing the Edgars stores in conjunction with renewals for the space.

Is the Future of Retail Leasing in Redevelopment? 4 Considerations for Landlords to Keep in Mind When Restructuring Retail Centers Contact me to discuss the latest scoop in real estate! #georgia #georgiarealtor #georgiarealestate #geogiahomes #georgiarentals #georgiahousing #georgiatoprealtor #georgiatoprealestateagent #georgialistings #georgiabrokerage

Is the Future of Retail Leasing in Redevelopment? 4 Considerations for Landlords to Keep in Mind When Restructuring Retail Centers Contact me to discuss the latest scoop in real estate! #realestateseattle #seattlerealestate #homedesign #washingtonhomes #seattlestaging #seattlehomedesign #seattlerealtors #seattlelife #seattle

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