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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

INCREASING NON-PEAK OCCUPANCY

Terry Webb

Mainstreet Retail, The Mills Corporation

leasing
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

“Failing to prepare is preparing to fail”

John Wooden, UCLA Basketball Coach

you must have a plan
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
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
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
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
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
non traditional uses
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 getting to win win
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

Effective Negotiators Prepare, Probe, and Propose

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

abraham lincoln

“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
Creative Alternatives
  • 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
Take a Genuine Interest in Their Business
  • 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
increasing non peak occupancy16

INCREASING NON-PEAK OCCUPANCY

Terry Webb

Mainstreet Retail, The Mills corporation