Case Study

Industry: Retail

Region: Midwest United States

Assignment:

• Identify a new location (within a predetermined municipality in the Midwest) for a retail operation based on highly specific criteria for desired customer base and complexion of retail center.

Approach:

• Travel to meet with the client's executive leadership team to gain a thorough understanding of client's operations and goals.
• Consult SRC's global network and engage local broker to immediately begin the market survey process.
• Initiate detailed demographic study, traffic counts, retail sales per square foot–analysis and traffic impact study. Contact local governing authorities to discuss future roadway projects that might have an adverse impact on traffic flow to and from the potential locations.
• Within one week (as requested by client), present list of available properties and results of demographic studies to the client.
• Tour select properties from short-list with client and local broker.
• Create and submit customized letters of intent for each of two potential locations. Negotiate with owners of both facilities to secure favorable terms for client.

Outcome:

After exhaustive negotiations, SRC secured a lease for the client with very favorable terms, including one-time termination option, a finish allowance that covered 100% of build-out costs, a cap on controllable expenses and six months of free rent. SRC is now the client's exclusive national real estate representative.