Medical, health, wellness, fitness, and educational uses have become ubiquitous across the suburban shopping center landscape from coast to coast, bringing repeat visits and longer stays.
Some say the most important thing in our business is “location, location, location.” Perhaps so for retailers, but for me, it’s “leasing, leasing, leasing.” Nothing affects the success of a shopping center and the tenants within it more than having the right combination of retailers that together attract customers for each other.
Leasing is the root of the income in a shopping center, and the income is what generates the returns for the investors in the project. Likewise, the value of the asset is directly linked to the income.
I’ll start off by saying that there is no optimum tenant mix. Shopping centers are like snowflakes—no two are exactly alike—and every location has a different allure for retailers. You just have to use your knowledge and skills to seek out retailers that are interested in leasing space at your shopping center and select the best combination of tenants that can ultimately draw the most traffic into the center and generate the highest retail sales.
To read the full article, please visit here.