THREAD: How to Reach Out to National Credit Retail Tenants and What I Send Them.
#Retail #RetailLeasing #ShoppingCenters #CRE #REtwit
(1/7)
Retail tenant decision makers are constantly getting calls and emails for opportunities within and outside of their area. I am always respectful of their time and take any work off their plate whenever I can. Always get confirmation they handle the area prior to sending.
(2/x)
Email subject line must be clear and concise: “Opportunity for X in Y MSA | Z, TX” and email along the lines of “I have an opportunity in Z market. Are you the best site selection contact?” Make sure you know their closest location.
(3/x)
What I send them: marketing flyer, economic data on area, Placer cell phone traffic showing 12 months of traffic, residential development growth, trade area/demographic study, site plan/leasing update on the project, and thorough breakdown of why they want to be there.
(4/x)
Follow up: now that you’ve confirmed the decision maker or facilitator and sent them the information, they will likely need to drive the site and order sales forecasts to determine what rent they could pay. Follow up every other week as they have a lot on their plate.
(5/x)
Note: keep in mind that priorities change from year to year and just because they said no last year doesn’t mean that it’s going to be a no this year. Keep trying but be respectful of the tenant reps as you don’t know if they have another tenant or will move companies.
(6/x)
This is my simple process that has successfully allowed me to do deals with big and small national tenants.
Let me know if you do anything to improve.
Email me any shopping centers or pad sites that you need a tenant for in 2023. Pk@svntrue.com
(7/7)
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.