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INCREASING NON-PEAK OCCUPANCY. Terry Webb Mainstreet Retail, The Mills Corporation. Leasing. Knowing your inventory and knowing how to sell it. Learning about the tenant you are leasing the inventory to. Negotiating the deal. “Failing to prepare is preparing to fail”.

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Increasing non peak occupancy l.jpg

INCREASING NON-PEAK OCCUPANCY

Terry Webb

Mainstreet Retail, The Mills Corporation


Leasing l.jpg
Leasing

  • Knowing your inventory and knowing how to sell it.

  • Learning about the tenant you are leasing the inventory to.

  • Negotiating the deal.


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“Failing to prepare is preparing to fail”

John Wooden, UCLA Basketball Coach


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You Must Have A Plan

  • Prior Year Assessment

    • Occupancy by month

    • Income by month

    • License and location expirations

  • Establish Rent Guidelines

    • By location, month, season and term

    • Know your competition

  • Determine Your Merchandise Mix

  • Knowing your inventory and knowing how to sell it.


  • Think like a retailer come live in my house for a while l.jpg
    Think Like A Retailer“Come Live in my House for a While”

    • Occupancy Costs

      • Rent to sales ratio

      • Survey existing tenants

  • Cost of goods sold

    • What is the retailer’s markup?

  • Labor Costs

    • Owner operated versus hired help

    • It is the retailers 2nd or 3rd highest cost

  • Do Not Assume They Understand The Business


  • Creative deal making l.jpg
    Creative Deal Making

    • Location

    • Rent Structure – let them help you

    • Use Clause / Concept Development

    • 30 – Day Kick outs

    • Percentage Rent

    • Props, Displays, Other Benefits

    • Be Flexible and Open To Change


    A january to october strategy l.jpg
    A January to October Strategy

    • Rental Terms “Three – Six – Twelve”

    • Monitor and Plan the Expiration Dates

    • “Piggyback” the Term

      • Christmas includes October and January

      • May and June include April

      • Back to School begins in July and ends in September

  • Sell “The Season”


  • Cultivate year round tenants l.jpg

    Gold Jewelry 10k,12k,14k

    Silver Jewelry .925

    Handbags / Leather

    T-Shirts

    Cell Phones (each carrier)

    Cellular Accessories

    Cosmetics

    Candles

    Embroidery

    Belts-Ties Men Accessories

    Women's Fashion Jewelry

    Table Top Home Furnishings

    Collectibles / Gifts

    Watches / Lighters

    Children's / Infant Apparel

    Engraving

    Specialty Food

    Toys

    Cultivate Year-Round Tenants


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    Banquet Rooms Funeral Homes

    Apartment Complexes Restaurants

    Auto Accessories Air Conditioning

    Newspapers Movers

    Tanning Salons Home Improvement

    A new Costco or Sam’s Windows

    Catering Companies Beauty Salons

    Child Car Centers Parade of Homes

    Pool Companies Landscapers

    Chamber of Commerce Security Companies

    Dentists Doctors

    Formal Wear Bridal Accessories

    Bridal Shops Modeling Agencies

    Ski Resorts Dance Schools

    Scuba & Dive Store Golf Courses

    Miniature Golf Hot Air Balloon Rides

    Car Washes Visitor Centers

    Health Clubs Park Districts

    Martial Art Studios Travel Agencies

    Non Traditional Uses


    Negotiating 101 two sides of a profitable coin l.jpg

    Negotiating 101 Two Sides of a Profitable Coin!

    “Achieving Win-Win”


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    Negotiating Getting to Win - Win

    • Your “must have” needs are satisfied very well.

    • The other party’s needs are satisfied to an acceptable degree.

    • Win-Win can build long term relationships and provides a starting point for future opportunity.


    Effective negotiators prepare probe and propose l.jpg

    Effective Negotiators Prepare, Probe, and Propose

    Create the proper plan to guide you through the negotiation process.


    Abraham lincoln l.jpg

    “When I am getting ready to reason with a man I spend one-third of my time thinking about myself and what I am going to say, and two-thirds thinking about him and what he is going to say”

    ~~~~~~~~~~~~~~~~~~~~~~~~ Abraham Lincoln


    Creative alternatives l.jpg
    Creative Alternatives one-third of my time thinking about myself and what I am going to say, and two-thirds thinking about him and what he is going to say”

    • 30 or 60 day kick-out

    • Spread rent payments according to monthly sales

    • Recapture start-up costs from rent or percentage rent

    • Give a rent discount for first month

    • Offer visual or fixture assistance

    • Offer flexible rent payment terms

    • Let retailer extend their contract on a percentage of gross sales in January/February

    • Use an unnatural breakpoint versus a natural breakpoint

    • Offer a term breakpoint versus a monthly breakpoint

    • Offer an RMU display (out posting) to help increase exposure of a current temporary in-line tenant

    • Pay full months rent for January, but close for two weeks


    Take a genuine interest in their business l.jpg
    Take a Genuine Interest in Their Business one-third of my time thinking about myself and what I am going to say, and two-thirds thinking about him and what he is going to say”

    • Share Business Information

    • Quickly Respond To Requests

    • Treat Them Like A Permanent Tenant

      • Meet and discuss their business

      • Suggest ways ti improve their sales

  • You Create Goodwill Ambassadors

  • Builds Loyalty


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    INCREASING NON-PEAK one-third of my time thinking about myself and what I am going to say, and two-thirds thinking about him and what he is going to say”OCCUPANCY

    Terry Webb

    Mainstreet Retail, The Mills corporation


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