All Forum Posts by: Ariel Jeidel

Same company as auction.com.

We have sold multiple properties in the platform. The buyer of our properties got a very good deal if they are willing to put in the time and energy needed.

We have stayed away from purchasing as we don't like to spend time on a deal that we don't know what it will take to get.

Too add to what was said earlier, it depends what type of retail space you have. Are you trying to market to a national tenant or more a local mom and pop? If you are looking for a local tenant you need someone who is tied in to what is going on around town. They will hopefully know someone who has a business in their house that is ready to expand to a storefront. Some have luck with social media, haven't really tried it myself except for in malls.

If you are looking to a national tenant you need to either find an amazing leasing broker (hard to find these days) or think for yourself which tenant is appropriate for the space and reach out to them yourself.

It really depends on the space. We generally find that any tenant that is worth spending money on for their build out, is also someone who understands size and space and they don't need to see a white box to be interested. That being said we operate in areas where we don't have tenants banging down our doors, so we don't like spending money unless we are very comfortable that we will get it back.

Its too late now, but anyone reading this that has a Dollar store will hopefully take note of this. Dollar Stores, drug stores and other uses have changed their model and now really prefer to be free standing. If you have these tenants in your strip centers, pay attention to when their leases come due and to potential free standing locations that they may skip shop to.

This is one of the reason why we don't pay attention to cap rates on retail and rather focus on the rents that tenants are paying relative to the market. If

Best of luck.

Its very hard for anyone to give you a list of national tenants that would take that space without knowing more about the asset, the market, the co-tenants, the asking rent, the necessary TI and what you are offering.... 

We only have one Radio Shack in our portfolio and we have not been told if the store will stay open.

Wish the only thing I was busy worrying about was this Radio Shack as we are much more focused on filling up all of our big boxes that we are getting back from the likes of JCP's, Gordman's MC Sports ... or some of our smaller but high paying tenants such as Vanity. Its a blood bath out there!

Best of luck.

piggybacking off this thread:

We own retail strip centers and malls throughout the country (about 6.5M sf), most of our properties have 3rd party management which we oversee and some of the properties we manage ourselves. Most of our 3rd party managers use Yardi. We don't use any software other than excel and quicken.

Looking to switch to a more sophisticated software, Yardi seems to be the logical switch but wondering if there is any other program that works for our asset class that people would recommend over Yardi.

@Travis James

Travis, did you ever find out what you were looking for?

Who else is ready for Brian to give us a 2017 update?

@Matt Roth I would love to hear what ideas you have yourself.

We have had success over the years back filling Big Box spaces with smaller retail tenants. However, we are finding it more difficult over time. We have back filled one space by converting it in to self storage about 2 year ago, but so far it has not shown any profit.

@Arthur D. Did you get any feedback?