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What to Expect from the Broker:
- Determine The Needs Of The Owner and the project
- What space is available and what is the optimal configuration to maximize square footage without sacrificing design flaws
- Who are your potential small tenants, outlot users, Anchors, and mini-Anchors
- What restrictions, if any, exist from existing Tenants
- Who are your Anchors in the project and which tenants will co-exist
- How can the values of be maximized
- What rents are needed and what will the market bear
- Marketing Package
- Potential Users
- Break down contact list by anchors, mini-anchors, shop tenants, and outlot users.
- Prepare a list of users already in the market.
- Determine which uses are not currently there and target specifically.
- Develop a hit list of Tenants that are in the market in need of relocation or expansion.
- Correspond with all Tenants by providing marketing information to each.
- The Property
- Compile demographic information including drive times, full reports, and color coded demographics.
- Provide clean site plan and aerial photo.
- Develop map of the area indicating generators and competitors.
- Develop a map to indicate where the market will draw from.
- Compile a fact sheet for property indicating all available space and pricing.
- Implement Marketing Program
- Correspond with Tenants selected
- Send packages to prospective Tenants
- Physical viewing of the property by prospective Tenants
- Prepare and deliver Letters of Intent to Tenant/ Owner
- Install ?Available? signs on property where appropriate.
- Provide details of project on Kowit & Passov web page as well as ?LOOPNET? and other web services.
- Send mass e-mails to brokers
- Negotiate Letters Of Intent And Leases
- Communicate between both parties? legal council
- Guide the finalization of legal documents to satisfactory conclusion to assure targeted turnover and opening dates
- Keep in the loop with the application of permits to the city
- Keep the Tenant informed of important dates so that Tenant opens as scheduled
- Reporting
- Throughout the process provide Owner written bimonthly leasing status reports
- Provide complete information on the property to all retail Brokers and cooperate fully with all
What to Expect from the Owner:
- Prompt Response To Calls
- Calls for the discussion of offers/ counter offers
- Calls for general questions regarding the property
- Accurate Information
- Information regarding what deals can be done
- Information regarding the condition of space
- Clean site plan for marketing
- Keys for all vacant space
- General
- All calls on property to be referred to Broker
- Kept in the loop with discussion with new/existing Tenants
- All Vacant spaces will be kept in a presentable condition
- Prompt response to offers and lease negotiations.
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