SUBJECT AREA - site selection

New Shopping Center Variables

From major cities to the smallest town, please understand there was a Site Selection Process, which resulted in the existing retailers building their sites where they did.

This section of Premier Retail Support's website is included to share with you a list of variables that most national tenants consider when selecting a location. No single shopping center or free-standing location has all the qualities of a "perfect location". By using the list provided below, you should be able to prioritize the available locations you're considering.

The bullet points should be self-explanatory, but in the event you have a question, please contact us.

New Shopping Center Variables

No single shopping center or free-standing location has all the qualities of a “perfect location”. By using the list provided below, you should be able to prioritize the available locations you’re considering.

Anchor or Major Traffic Generator

Do you have protection if the anchor doesn’t open?

Surrounding Tenants

Are there certain tenants you don’t want in the center with you, like an adult book store. Did you ask for that protection?

Accessibility to Center

What if a water line breaks and your customers can’t access the shopping center. Sales plummet. Is your rent abated?

Visibility of Center

Customers can see you from the street. That’s great. Can a bank be constructed on an out parcel to block your visibility or have you defined a no build zone?

Appearance of Center

Is your landlord planning to do an upgrade soon? With all that construction going on, will it block access to your customers? Will your rent be adjusted or abated during construction?

Shopping Center Competition

What if a new, better shopping center opens across the street, with a competitor? Do you have a sales kick-out?

Your Competitor's Locations

Did you know you can keep them out of your center with an exclusive?

AM/PM Side of Highway

AM is going to work side, PM is going home side. Certain “uses” thrive being on one side or the other. Which side should you be on?

Price Points of Surrounding Tenants

Upscale tenants attract wealthy customers. Thrift shops and goodwill shops attract and cater to lower income customers. Just make sure the center you lease space in mirrors your targeted customer.

Projected Changes in the Future

Is there a major roadway construction project planned in the next couple of years, at your intersection. My advice. Pick another site and consider this site when construction is complete. Some of these nearby tenants won’t survive the disruption and “deals” can be had after they close.

Left Turn Access

Left turn, while leaving your center provides your customers with convenience of NOT having to do a U-Turn. Do you have it?

Size of Center (GLA)

Your pro rata share of NNN charges is determined by your space divided into the centers GLA. Example: If you lease 1,000 feet and the center is 10,000 feet your prorata share is 10% of CAM, TAXES and Insurance. Did you confirm the numbers?

Night/Weekend Traffic

Is your signage on a timer? Is there enough parking in your lot for peak traffic periods?

Median Barriers

A divided highway only allows ½ the traffic easy access. Does your site have a dedicated turning lane access into your center?

Average Income Levels

Always mirror your trade area income levels to the customer profile you are trying to attract.

Mass Transit Stops

Provides lots of traffic in front of your shop, but if you sell large items, how are they going to get it home?

Traffic Patterns to Center

What if the city changes traffic flow into or out of center. Any protection?

Population Density of Trade Area

Compare 1 and 3 miles population, income, number of businesses, age breakdown, education levels. All these variables can be placed side by side to compare trade areas.

Quality of Traffic

Even though the traffic counts may be high are they going to stop? I worked for a company that targeted Orlando Florida because of the traffic generated by Disney World. Problem was, the cars heading into and out of Disney World were on a mission to get in and head back to hotels. Were they going to stop? That is the question of “quality of traffic”.

Parking Availability

Is there a nearby tenant that will eat up all the parking for hours at a time? Example Movie theatres and big gyms like LA Fitness. Nights and weekends are your busiest times just like theatres and gyms.
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