When it comes to leasing a retail property today, the challenges of the property market and the retail sector impose a lot of pressure on both shopping centre landlords and retail tenants. As retail leasing experts, we need to comprehensively understand the local property market in our location.
Given that the retail property segment is under some pressure from the shifts in customer and shopping behaviour, we now need tenants that are more suitable for prevailing and future levels of trade.
Some tenants have been significantly impacted by Internet generated shopping. That being the case, those tenants may not need to disappear from the existing tenancy mix, but they do need to go through some adjustment relative to ongoing occupancy. Relocation or contraction may be an alternative.
Here are some of the alternatives available as adjustments in a retail property.
- Identify the successful sales patterns behind your anchor tenants. Is likely that the specialty tenants can complement the anchor tenant offering.