54 – New Landlord Disaster Stories

Good morning and welcome to Episode 54 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

In today’s episode Craig interviews Tom Shay from Profits Plus Solutions. We like to run a positive show around here at Corporate Real Estate Podcast. Craig has great working relationships with all parties involved in making great deals: attorneys, landlords, landlord agents, etc. Craig likes landlords! He likes to say they’re good people, and most of the time they are. Tom Shay would say the same thing, but he’s here today to give everyone a little heads up so they can learn from someone else’s pain. He shares a few of his experiences dealing with inexperienced landlords.

Sometimes the landlord just doesn’t have a good working knowledge of how deals, leases and business relationships should go. Tom recounts an incident where a landlord failed to notify tenants that their signage was going to be discarded and changed and that the entire facility was going to be remodeled. This is just an example of poor communication and these types of encounters can easily be avoided.

Whether you’re a landlord or a renter, you want the lease agreement to protect your rights and be mutually beneficial. A landlord should want the businesses that rent from them to thrive and vice versa.

Give Craig a call if you’d like to learn more. He can be reached at 800-962-2419. Thanks for tuning in and have a fantastic day!

Helpful Links:

For more information, be sure to visit LeaseSmart.com

Visit the largest website out there dedicated to retail services For more information, be sure to visit ProfitsPlus.org. This website is an incredible resource full of helpful information and 40 handy calculators. You can’t spend money on the website; they just offer it as a service for an analysis of your business.

Email Tom Shay at tomshay@profitsplus.org

34 – Disruptive Retail: Commodity Vs Specialty and How to Benefit From Modern Trends

Hello, and welcome to Episode 034 of the Corporate Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

Today Craig welcomes special guest Nick Egelanian with SiteWorks Retail. He is a Strategic Real Estate Consultant with offices in Annapolis, Maryland and London. This is a fascinating interview covering the history and future department stores. He looks at the big picture of what’s going on in the world today.

There is a new model of outlet center leading us away from typical malls. It has been successful in Boston and other locations and it is due to this Post Department Store Era we find ourselves in. Why is this happening? Well, if we look back to the 50s and 60s, the Department Store Era was born out of people needing to buy things daily at the general store. It affected our culture so much that even the roads were laid out for such purposes and that all worked very well. Building the foundation for malls and big box stores where low prices are king.

Fast forward to 2016 and today the department store industry does 72 billion in sales.
Target alone is a 75 billion dollar company. And, Walmart is 500 billion dollar company. The Retail delivery portion of Amazon is 85 billion. Each of these companies is exceeding the total volume done by all department stores. Nordstrom has not been adding net stores for 5 years now. In the last 2 years Nordstrom has closed 2 stores including in San Diego and Orlando. In the Wall Street Journal on July 11th, there was an article about this very mall.

Do department stores have any hope to evolve and survive? Nick Egelanian believes their future is dependent on them repurposing. He predicts that we’ll go from 3000 to only about 200 malls left in the end. Department stores will have little to do with malls’ sticking around. In the 90s, a mall’s ability to get a Nordstrom was the key factor to their success, but not any more. What matters now is experience. People want the experience of eating good food, buying clothes and finding entertainment. Malls are going to have to refocus around “Experience Stores.” Thanks for tuning in!

Links:
For more information, be sure to visit LeaseSmart.com

Nick Egelanian may be reached at:
(301) 922-4466
siteworksretail (DOT) com