Whether leasing a neighborhood center or a regional power center, new development, or property reposition, BCRE only takes on certain listings allowing us to give each assignment the individual attention required to meet our client’s goals. A few key components of our strategic marketing process include:
Three dimensional strategy: This is BCRE’s unique multilevel approach to understanding the proper terms and effects of the lease going forward; i.e. positioning the center for a sale, co-tenancy, and giving the owner the most flexibility in the future (such as relocating tenants).
- Market Analysis: We define and analyze each competing property and trade area, identifying the retail category voids or holes, determining market rental rates and operating charges, competing vacancies and tenants who would benefit from relocating or expanding their retail concept.
- Marketing Brochures/Information: BCRE’s marketing team develops brochures and marketing materials that are sent out on calculated prospect lists. Proper signage is installed and cared for at the listing property. For maximum exposure to both tenants and brokers, the Company advertises the property to local brokers and retailers utilizing multiple web-based property databases including MNCAR and Loopnet. We also push marketing information through frequent e-mail ‘blasts’. Our marketing strategy further entails the announcement of major project highlights, keeping the market informed and the project fresh and active. In addition, tailored marketing materials are created for prospective tenants, explaining the benefits of the development along with drive times and distances from key points.
- Letter of Intent/Lease Negotiations: Pulling from our tenant representation experience and our vast landlord representation knowledge, we offer a greater level of expertise and advice on deal points and creative solutions, allowing us to negotiate the best deal possible for our clients. We have intimate working knowledge of Letters of Intent, Purchase and Sale Contracts, Lease Documents, Construction Exhibits, Exclusives and Restrictions, Signage and Easements, Covenants and Restrictions.
- Follow Through: Once the landlord and tenant have executed a lease or purchase and sale agreement, BCRE works closely with the landlord/seller and tenant/buyer representatives, ensuring a smooth construction process and a successful and timely opening.
BCRE takes pride in covering all the right options as we ‘pound the pavement’ and ‘shake the trees with numerous phone calls’ finding the right tenants for our client’s shopping centers. While our marketing efforts start with tenants in the immediate trade area, we strive to understand all tenants nationally looking to expand and relocate, often sending us to markets outside of the project’s MSA, to entice new tenants to the market, with our client’s shopping center in mind.
Our strategic approach to marketing each assignment, active and ongoing communication with our clients and the ability to close deals allows us to achieve success for our clients. |