What are the Criteria Retail Tenants Care about Most?Mark Hubert
Retail Tenants come in all sizes – big and small. Some are big box stores and grocery stores, and some are dollar stores or hair salons. However, although store layout and criteria have different requirements depending on the store and industry – here are a few standard criteria many stores rely. These standard criteria are used across all retail stores and are part of Chain Store Lead’s packages.
All stores require a minimum and maximum square footage. Clothing Boutiques can range from 500 sqft to 1500 sqft typically. Sleepy’s Mattress stores generally range around 5000 square feet. Square footage determines how much inventory and space the retailer can fit in their store. So this is a a first tier factor on store criteria, assuming the store is in a desirable area for the chain. Secondly is the frontage. What is the minimum frontage the chain requires? Most stores enjoy large windows to attract interest in traffic and display signs. Depending on whether this is an urban or suburban store, frontage will vary from 8 ft to over 200 ft.
Other criteria that a chain may want to know is traffic per day, population radius requirements, median household income in the area, other stores in the same mall and surrounding malls, and preference on location within a mall. Does the retailer want an endcap or drivethru option? It’s important to consider all of these factors when contacting an expanding retail chain.
When preparing your real estate proposal, be sure to do some independent research on that specific chain and include all the requirements and criteria above before you mail it to the chain’s headquarters’s real estate department.
Chain Store Leads offers mailing solutions to retailer’s real estate departments and offers lead packages by square footage and other industries, which can be found here. Chain Store Leads only offers growing retail chains with ethical companies. If you have any questions feel free to contact [email protected]