Retail_CREGuy

Sharing candid insights from 15 years of commercial real estate brokerage, development, and investment.

[Retail_CREGuy @Retail_CREGuy]

#retwit

You know why buyers are always looking for off market deals? Because they can get those deals for less than they’re worth because they aren’t being marketed to find the highest bidder. Usually the sellers are duped by the thought that they may be able to save a few points on a commission. Why do people do this?

[Retail_CREGuy @Retail_CREGuy]

Seems legit:

[Retail_CREGuy @Retail_CREGuy]

A little bit of radio silence may be in order… IYKYK

[Retail_CREGuy @Retail_CREGuy]

Yes the fastest way to settle this would be to ask the tenant with the restriction, but we all know what that answer is (or at least what it is now and what it will cost to change that). Luckily this one has enough differentiation, AND a sales threshold of 30%, so there’s a pretty big buffer here.

[Retail_CREGuy @Retail_CREGuy]

Sometimes, when you work in Retail CRE, you get to do fun things like determining whether a pita is a sandwich or not. IYKYK…

#retwit

[Retail_CREGuy @Retail_CREGuy]

@RetailDevDude Is a tortilla bread? Anything made with flour? Burgers? Hot dogs?

[Retail_CREGuy @Retail_CREGuy]

Is a Pita a Sandwich?

[Retail_CREGuy @Retail_CREGuy]

@NUCLRGOLF That’s not just any golfer, that’s former Longhorn QB legend Vince Young!

[Retail_CREGuy @Retail_CREGuy]

PSA to all Franchisors - You should be selecting an exclusive broker in each market to act as your Tenant Rep. Do NOT leave it up to your Zees. Most of them won’t be able to properly vet potential brokers. They may engage multiple brokers, their resi cousin/buddy, etc. or no broker at all.

This will ultimately result in lost deals, poorer site selection, a disjointed leasing process, and ultimately reflects poorly on your brand and will hurt your brand and Franchisee’s success. There is no reason not to be selecting representation at the corporate level. Doesn’t matter if your franchisee’s complain that they want to use their old frat brother, or if it seems like a headache for you to take on, I promise you it’s the best way to operate your RE strategy. You need consistency and competency in what is ultimately one of the most important (arguably THE most important) parts of your company’s growth.

#retwit

[Retail_CREGuy @Retail_CREGuy]

@investing_law Generally speaking (law or not) if where you went to school is still high on your list of qualifications or accomplishments after the age of thirty, you aren’t that good at what you do and/or haven’t had much success… **ducks**

[Retail_CREGuy @Retail_CREGuy]

#retwit

Is it just me or is it tacky to send an email blast or post a promoting a well known Tenant entering a market if you’re the leasing broker, with no mention of your role and no mention of a Tenant Rep? Especially when the deal had to be brought to you by the TR? Essentially implying that you’re solely responsible for making the deal, and that you represent a client that you don’t represent.

Also inappropriate to make the announcement prior to the Tenant doing so themselves…

Maybe IATA here, but failing to give appropriate credit is misrepresentation.

[Retail_CREGuy @Retail_CREGuy]

I can’t stop laughing at this….

[Retail_CREGuy @Retail_CREGuy]

Being 3rd on the upgrade list to first class on Delta with three open spots available and waiting for it to clear is like being on the cut line in a major championship. What a sweat!
#icsc #retwit

[Retail_CREGuy @Retail_CREGuy]

@TheDukeofDirt @imrichardfertig @JWurzak Will be back in July, can’t wait! One of my favorite places in the world.

[Retail_CREGuy @Retail_CREGuy]

@cre_cole Club Sealy for me on Tuesday night

[Retail_CREGuy @Retail_CREGuy]

@RetailDevDude @ShlomoChopp It’s like athletes stopping mid-action to complain to the refs instead of focusing on the blocking and tackling. You have no control over the refs (or rates) so just adjust your play and get back into the game.

[Retail_CREGuy @Retail_CREGuy]

@DeveloperQuirks @SethLaceyCRE Why does X seem to create more opportunities than LI? Is it because LI is too formal? Not sure but it seems like people are much more open on here than LI. 🤷‍♂️

[Retail_CREGuy @Retail_CREGuy]

@ItsKasum @ICSC Great thread and many of these I do myself as well. Like most things in life, the amount you get out of ICSC tends to be directly proportionate to the work you put into it.

[Retail_CREGuy @Retail_CREGuy]

One clarification above - asbestos isn’t going to be an issue on any DT/FD deal that’s been done in the last decade. Obviously first gen boxes aren’t an issue. For FD/DT backfills, they do a full environmental on all sites and require the LL to remediate before they’ll take possession.

[Retail_CREGuy @Retail_CREGuy]

@PeterLBlock Yes in very rare circumstances it can be the right strategy. However, most of the time when I see an unpriced listing, it’s not one of those instances. Might as well just auction it if that’s your listing strategy.

[Retail_CREGuy @Retail_CREGuy]

To all “unpriced” listing brokers -

Is it laziness or incompetence that keeps you from valuing an asset accurately and actually putting a price on it? #cre #retwit