Retail Lease Negotiation
Retail Project Leasing and Retail Lease Negotiation are key functions within the retail real estate industry. Retail Real Estate Advisors (RREA) are specialized with the knowledge and experience in representing both Landlords and Tenants.
Retail Project Leasing
- Property Evaluation: Retail Real Estate Advisors will assess retail properties to determine their leasing potential. They consider factors such as location, demographics, visibility, access, and market demand.
- Marketing Strategy: RREA develops comprehensive marketing strategies tailored to each retail property to attract potential tenants. This may include creating promotional materials, advertising campaigns, and online listings.
- Tenant Identification: Retail Real Estate Advisors identifies potential tenants that align with the property’s target market and leasing objectives. They may reach out to retailers directly or work through leasing networks and industry contacts.
- Lease Negotiation: Once a potential tenant expresses interest, RREA negotiates lease terms on behalf of the property owner. This involves discussing rental rates, lease duration, tenant improvements, and other contractual terms to achieve mutually beneficial agreements.
- Tenant Relations: Throughout the leasing process, RREA maintains communication with prospective and existing tenants. They address inquiries, provide information, and facilitate tours of the property to showcase its features and advantages.
- Market Analysis: Retail Real Estate Advisors will conduct market research to stay informed about retail trends, competitor activity, and demand drivers in the local market.
Landlord Representation has included some of the largest local retail landlords. Ria represents and has represented:
- The Cohen Family — Sherwood Plaza, Natick, MA 300,000SF+
- Packard Development — Fashion Crossing, No. Attleborough, MA
- The Sherman Family — Sherman Plaza, Saugus, MA
- The Richmond Company — CVS, Shrewsbury MA
- RREEF Funds — North River Plaza, Pembroke, MA
- Salt Pond SC LLC — Salt Pond Plaza, Narragansett, RI
- Leiser Realty, Numerous properties in MA & RI
- Geronimo Properties, Twin City SC & 12 & 2 SC, Leominster MA
- The Alevizos Family, Franklin & Acton, MA
- Beckenstein Enterprises, Numerous properties in MA & CT
- The LaChance Family, Hannaford SC, Milford, MA
- Arista Development — Walgreens, Southborough, MA
- Atlantic Management — Powder Mill Plaza, Acton, MA
- First Merchants Group — Milford Plaza, Milford, MA
- Eastland Properties — West Central St. Natick, MA
- Main St. Realty — Cochituate SC, Wayland, MA
- Straly Realty Corporation — Cafe Nero, Wellesley, MA
- New England Investment Partners — One Framingham Centre
- 920 LLC — Northborough Crossing Expansion
- 139 Turnpike LLC — Burger King, Starbucks, ConvenientMD
- 100 Worcester Road — Blinds To Go, Yardbird
Our company has managed Sherwood Plaza and Sherwood Plaza East since 1960. Since 1999, Ria McNamara has been our exclusive broker. Throughout our association with Ria, her creativity, skill and extensive knowledge of the retail world have been invaluable to the continuing success of our shopping centers. Through Ria’s initiative and perspicacity we have managed to maintain occupancy levels far in excess of the industry standard. In addition, her ability to creatively tackle difficult leasing problems has also been a great benefit. Ria continues to bring to our shopping centers, quality tenants with excellent financial strength.
With her former colleague of 11 years, Steven Tenofsky, Ria was the agent responsible for ground-up retail developments in the following communities and associated retail establishments:
- Framingham, MA — Staples & Trader Joe’s
- Shrewsbury, MA — Borders Books
- Southborough, MA — Walgreen’s
- North Attleboro, MA — David’s Bridal, Bernie’s, Fed Ex Kinko’s
- North Attleboro, MA — Christmas Tree Shops
- Portland, ME — Christmas Tree Shops & Michaels
- Brewer, ME — Lowes Home Improvement
- Orange, CT — Christmas Tree Shops & AC Moore
Exclusive tenant rep assignments have included:
- David’s Bridal — 6,000-10,000 SF (over 300 stores nationwide)
- Leeward’s Crafts (now Michael’s Crafts) — 20,000 SF
- Newbury Comics, Inc. — 3-6,000 SF (27 stores in New England)
- Poore Simon’s clothing — 3,500 SF (55 stores, NE & NY)
- Voicestream Wireless (now T-Mobile) — 1,500 SF
- For Eyes Optical Inc. — 2,000 SF (over 125 stores)
- Work ‘N Gear — 4-5,000 SF (50 stores)
- Liberty Travel — 1,000 SF
- New England Dental Group — 3-4,000 SF
- Especially For Pets — 5,000 SF
- RL Communities — 180,000 SF
- Blinds To Go
- New Asian Concept Group
- Twist Bakery — 3,000 SF
Other tenant rep experience with familiar retailers include:
- Staples
- Christmas Tree Shops
- Big Y Supermarkets
- BJ’s Wholesale Club
- Hannaford Supermarket
- Payless Shoe
- Sherwin Williams
- Liberty Travel