New Construction - Retail Strip Center - Broker Rep Needed

5 Replies

Hi All,

I am building a 20,000 Sq. Ft. retail strip center in Pearland, TX. Framing is done and we are looking forward to leasing the space. ETA is about 45 days until completion. Does anyone have a good experience with a national brokerage or local brokerage that has relationships with franchises and other businesses?

Any other tips to find a great brokerage are greatly appreciated.

Is this something new from before you started the project? Single tenant back out?

CBRE, NAI, JLL, I would assume all the normal players

@Ronald Rohde in short yes. We had a child care facility set on 8,000 Sq. Ft. Our issue with the bigger players is how interested would they be in a smaller leasing opportunity vs the massive office buildings they typically get. 

I'd prefer a company with a strong footing in Texas who works with national brokerages to place franchises. It's been a challenge finding a great brokerage thus far. 

Originally posted by @Abbas H. :

@Ronald Rohde in short yes. We had a child care facility set on 8,000 Sq. Ft. Our issue with the bigger players is how interested would they be in a smaller leasing opportunity vs the massive office buildings they typically get. 

I'd prefer a company with a strong footing in Texas who works with national brokerages to place franchises. It's been a challenge finding a great brokerage thus far. 

 In my experience, the tenants will find the right brokerage for their size. If they are looking in your area, it doesn't matter who represents you.

@Abbas H. I don't have anything specific to help you. But here's a few tips based on similar stuff I'm working on. 

1) Drive to or hire someone to drive to every similar property within 50-100 miles. If there's a 'for lease sign' grab the number. If not, walk into every business and ask who they lease from. In short order you'll know all of the retail PMs in that area. Talk to them about their services.

2) Call the local reps from the national chains, Marcus & Millichap, CBRE, JLL. Set an appointment with them to come out and tell you who they would put in the space.

3) @Joel Owens mentioned in a post one time a concept called 'void analysis' meaning what is missing in that area. If you don't see a dry cleaner, liquor store , hair care or something else within 5 miles go after that aggressively by contacting businesses nearby in those areas.

Abbas:

I am a retail leasing broker based in Philly, and have done work with three brokerage firms in the Houston market - Retail Solutions, JLL, and The Retail Connection - and have had good experiences with all three. 

Damon Di Placido | Arrow Real Estate Services

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