This document provides an overview of a seminar on retail site selection and soliciting retailers. It discusses macro and micro-level real estate decision making factors retailers consider, such as trade area demographics and site characteristics. It also outlines marketing strategies like using brokerage firms and creating a "perfect package" to solicit retailers. Examples of active retailers are given, as well as tips for negotiating with national and regional tenants. The goal is to educate stakeholders on how to prepare their communities and properties for retailers.
Urban Retail Solutions: Keith Hamulak: What are Retailers Looking For and How Can You Prepare Your Neighborhood?
1. What are Retailers looking
for? How can I prepare my
neighborhood?
Urban Retail Solutions Conference
City of Cleveland
2. Seminar Objective
Educate community stakeholders
regarding the retailer site selection
process. To assist community
development organizations with the
retailer solicitation process.
3. Retail Seminar Overview
1. Macro Level Real Estate Decision making
2. Micro Level Real Estate Decision making
3. Marketing strategies and the “Perfect
Package” to solicit retailers
4. Active retailers
5. Negotiating with national and regional
retail tenants
6. Q & A session
4. CBRE | Page 4
MACRO Level Real Estate Decision Making
Understanding the Trade Area
Define the trade area
• Geographic Drive Time
• Demographic
• Socioeconomic Heat Map
• Location analytics
Define the anchor
• Benefits provided
• Retail beneficiaries
Spatial maximization EWC
• Radius restrictions
• Existing retailer locations
5. CBRE | Page 5
MICRO Level Real Estate Decision Making
Site Specific Understanding
Physical Characteristics
• Layout and frontage
• Visibility
• Signage
• Parking
Consumer shopping patterns
• Pedestrian and vehicle traffic counts
• What side of the street am I on
• Near corner / Far corner
6. CBRE | Page 6
Marketing Strategies
Introduction to Real Estate Resources
The online commercial listing services used by the
public and the brokerage community include;
 Retail real estate periodicals-National/International
• SCT- Shopping Centers Today
• Shopping Center Business
• National Real Estate Investor
• NRF- Stores
7. CBRE | Page 7
Marketing Strategies
 How do I find national retailers and the person to
contact regarding real estate site selection?
• Trade Dimensions- Retail Tenant Directory
• Chain Store Guide- Leading Chain Stores
• Retail Lease Trac- Internet Based Directory
 How do I find local retailers and the principals’ name?
• Crain’s Cleveland Business-Small Business section
called Grand Openings
• Cuyahoga County Auditor Website- Vendor Licenses
• Call the store
8. CBRE | Page 8
Retail Lease Trac Example
Parent Corporation:
Supervalu, Inc.
11840 Valley View Road
Eden Prairie MN 55344
Tel: 952-828-4000
Web: supervalu.com
Franchised: No
Publicly Traded: Yes
Comments: Save-A-Lot is the nation's leading hard discount grocer operating nearly 1,100 locations across the US & Caribbean and is a wholly owned subsidiary of SUPERVALU.
Contact Information:
Mr. Bob Ferratto
(Title) Senior Development Manager, East
100 Corporate Office Drive
Earth City/St. Louis MO 63045
Tel: 314-592-9472
Fax: 314-592-9619
Email: bob.r.ferratto@supervalu.com
Alt Email: realestate@save-a-lot.com
Web: supervalu.com
Comments: IL (South-Western), KS, MO, AR - Works with these primary banners: Acme/Cub/Farm Fresh/Hornbacher's/Shaws/Star/Shoppers/Shop 'n Save/Save-A-Lot. Submit potential sites at: save-a-lot.com/own/real-estate-opportunities/submit-a-site or visit us at save-a-lot.com/realestate or contact
us at 314-264-7854 or realestate@save-a-lot.com.
Demographics:
Minimum Required Population: 20,000
Average Household Income: $40,000
Desired Customer Base: High percentage of families with children.
Other Comments: Population of at least 35,000 in the primary trade area, 20,000 in rural areas. Median household income of $40,000 or less.
Facility Requirements:
Current Number of Stores: 1,170
(Desired Number of Stores)
In 12 Months: 30
In 24 Months: 60
(Desired Square Footage)
Minimum: 10,000 sq. ft.
Maximum: 20,000 sq. ft.
Desired Land Acres: 2
Desired Co-Tenants: Value-oriented retailers.
Comments: Sites zoned to allow grocery. Existing inline retail space preferred. Excellent line of sight for visibility. 5 parking spaces per 1,000 sq. ft. Retrofit or ground up sites. Receiving dock adequate for 53 foot semi-trailers.
Desired Facility Types:
Free Standing, Neighborhood Strip Mall, Regional Strip Mall, Special Strip Mall
Contact's Representation (United States):
Arkansas, Illinois, Kansas, Missouri
9. CBRE | Page 9
Cuyahoga County Auditor Vendor Website
View printable version
Licenses Issued from
6/2/2013 thru 6/8/2013
Vendor Name / Address
DBA / Type of
business
Issued Code
ANTONIO RAY ELLIS JR.
1973 E.55TH - IN REAR, CLEVELAND OH 44103
KRAM & KRAM
TOWING
VEHICLE TOWING
6/3/2013 488410
C & J'S GROUNDSKEEPING, LLC.
18501 ALEXANDER RD., WALTON HILLS OH 44146
LANDSCAPING &
LAWN CARE
6/3/2013 561730
DARLENE MARIE PETERS
7015 STADIUM DR. APT 4, BRECKSVILLE OH 44141
GRANDS II
FLORIST
6/3/2013 453100
GERALD M. SPEIDEL
3162 W 88TH, CLEVELAND OH 44102
GMS LANDSCAPING
LANDSCAPING &
LAWN CARE
6/4/2013 561730
BRYANT'S COMPLETE AUTO SERVICE, LLC.
4720 BROADWAY AVE., CLEVELAND OH 44127
AUTOMOTIVE REPAIR
SHOP - GENERAL
6/5/2013 811111
EXCLUSIVE TOWING AND AUTO LLC
1615 ELBUR AVE, LAKEWOOD OH 44107
EXCLUSIVE TOWING
AND AUTO
TOWING
6/5/2013 448410
JARMEL JACOBS
6114 WOODLAND AVE, CLEVELAND OH 44104
SINSATIONS
GENERAL
MERCHANDISE
6/5/2013 452990
JEHAD WAHDAN
9109 DENISON AVE, CLEVELAND OH 44102
D. SPOT CELLULAR
ELECTRONICS
GENERAL
6/5/2013 443100
LISA A. HAIRSTON
1842 BURNETTE AVE., CLEVELAND OH 44112
SWEET DROPS FROM
HEAVEN
GENERAL
MERCHANDISE
6/5/2013 452990
NEXT LEVEL AUTO DETAILING, LLC.
7960 YORK RD., NORTH ROYALTON OH 44133 AUTO DETAILING
6/5/2013 811111
6/2/2013 - 6/8/2013
10. CBRE | Page 10
Marketing Strategies
 Commercial Real Estate Brokerages with a retail
focus in Northeast Ohio
• CBRE, Inc.
• The Goodman Group
• NAI Daus
• Colliers International
• Kelly & Visconsi
• Chartwell Group
• Arnold J. Eisenberg
• Kowit & Passov
11. CBRE | Page 11
Marketing Strategies and the Perfect Package
 The BASICS
• Property owners should have a brochure or a one
page information sheet for the property to email or
fax upon request
• Professional property signage is recommended
• Exterior should have no visible deferred
maintenance
• Interior spaces should be free of debris
12. CBRE | Page 12
Marketing Strategies and the Perfect Package
 BEST PRACTICES
• The most successful owners utilize multiple
marketing mediums
ď‚ Internet
ď‚ Property Signage
ď‚ Newspapers
ď‚ Periodicals
ď‚ Brokerage firms
ď‚ Direct mailings
• Affiliate with organizations
ď‚ International Council of Shopping Centers
ď‚ Chambers of Commerce
ď‚ Philanthropic
13. CBRE | Page 13
Marketing Strategies and the Perfect Package
 The PERFECT PACKAGE
• National retailers look at thousands of locations
annually
• Real estate directors must submit “packages” to a
committee or a decision maker for final approval
• The Perfect Package provides the real estate
director with all the information he or she needs to
submit the site for consideration for a new location
• Some real estate directors are compensated with
bonuses by the number of new locations that open
during a given period of time
14. CBRE | Page 14
Marketing Strategies and the Perfect Package
15. CBRE | Page 15
Marketing Strategies and the Perfect Package
 The PERFECT PACKAGE
• Name and/or address of shopping center including
city, state, and zip code
• Site plan
• Floor plan
• Tenant roster
• (1,2,3 or 1,3,5 mile) Demographics
• Traffic counts
• Location map
• Parking ratio
• Asking rent
• Triple net charges
• Photographs of the property
16. CBRE | Page 16
Active Retailers
 Giant Eagle
 Aldi
 Save-A-Lot
 Family Dollar
 Dollar General
 Dollar Tree/Deals
 Big Lots
 Advance Auto Parts
 Autozone
 O’Reilly’s
 Jimmy John’s
 Anytime Fitness
 Fitness 19
 Planet Fitness
 Golds Gym
 24-Hour Workout Factory
 Revol Wireless
 Key Bank
 Gorman’s
 Dick’s Sporting Goods
17. CBRE | Page 17
Negotiating with National and Regional Tenants
Understanding their Process
Ask questions during the initial communication
• Prototypical size and minimum dimensions
• Proposed timing
• Internal approval process
• Special Requirements
The Letter of Intent and Request for Proposal
• What are they?
• How are they different?
• Why are they used?