All Forum Posts by: John Mitchell

@Jason Varney a question first.  Is this just a brewery or a brew pub?

If it's a brew pub, retail, especially the in the restaurant-brew pub business is very difficult.  My "day job" is in retail real estate and I see a lot of these type of businesses come and go.  We are in the process of evicting one right now.  If you were a family member, I'd tell you not to do it.  If you still wanted to do it I'd make sure you didn't sink your life savings into it and absolutely make sure you find a RETAIL broker and team to work on it for you.  Sorry to be harsh but retail and restaurants are tough business.  There are some good operators who make a lot of money but the vast majority do not.

If it's a brewery and your distributing to other users that's probably a different ball game and you don't need retail space.

spencer, all my rentals are out of state, and I don't mean Maryland :).  It's very hard to do in NOVA and cash flow.

good advice Ned

@Jennifer Lee assuming there isn't a big difference in rent I think you are correct in your assumption that you do martial arts.  You are correct that it brings moms in.  If your restaurant is primarily lunch, this tenant mix works really well as the tenants won't compete for parking.  If dinner it creates a bit more of a parking concern but as long as you are parked to local code you'll likely be fine.  

@Mike Giudici I hear you, but, he already has boost in the center for better or worse and has to deal with them.        T mobile is often seeking the same customer base as a boost or cricket or other similar providers. They are not ATT or better yet Verizon...

@Mike Giudici why would you dump boost mobile?

Hi David, I wish I could tell you there is an easy way to market to them but there's not.  You're likely going to have to roll your sleeves up.  Not sure how large of a metro area you are in but in larger areas there are medical brokers who specialize in doctors and dentists of all sorts.  Short of that, the best way we have found is the old tried and true cold call.  The hardest thing though is to get through to the doctor.  Also, do you offer good signage and convenient parking?  Best of luck and let me know if you have any more specific questions.  

@Martin Z. I agree the other tenant might not like it and that they are both selling new phone agreements but @Mikebell has a situation with the tenant will just open 100 feet away.  So he gets a competitor and no income?  Mike is running a business too.  Depending on the financials, the term of the existing tenant, strength of the center, etc. I would seriously consider looking at the tmobile deal.  Mikes got a choice to make...

@Mike Bell. @joelowens gives some great advice.  I'd like to add to his and give a slightly different view.  We look at cell phone stores a bit differently than say another category of retail.  If you put a jimmy johns directly on top of a subway they are direct competitors.  With the cell phone operators they usually represent one brand say verizon and can't sell t mobile.  While they are in the same business they are not selling the exact same products, there are more variables and once you're on a plan it's hard to switch.  In our retail portfolio we often times have different cell operators in a center where we wouldn't put two sub shops on top of each other even if we didn't have an exclusive.  Happy to discuss further with you.  Please feel free to pm me.

@James Park any education is a good thing but is the CCIM designation a necessity, no.