Hello, and welcome to Episode 35 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 back special guest Nick Egelanian with SiteWorks Retail. Nick Egelanian does lots of site selection for the retail industry and site analysis. As we’re talking about the retail industry, Nick is confirming that the information that we are getting from the demographic reporting companies, the government and all of the sources out there, is right. Rather it’s that a portion of the application of that information is wrong.
Craig Melby and Nick Egelanian discuss big retail centers and the presence of department stores in malls and there is a lot of evolution happening in malls today.
What is the retail insight into Disneyland? This is a fantastic question for business owners to consider.
What is necessary in order to have a successful specialty center today? You must produce a place that is best-in-class place-wise; best-in-class merchandise-wise; a place that, in the market you’re in, will motivate the shopper to shift their consumption patterns and spend their discretionary income in your shopping center. And, that is going to be different in every case depending on your market.
What is the validity of gap analysis? Nick Egelanian says there’s no longer a formula. There is more of an art to it. Just think about it: What do people do on vacation? How do they spend their time and money? City planning is part art and part science and Retail is a huge part of that. Thanks for listening!
Nick Egelanian may be reached at:
siteworksretail (DOT) com
For more information, be sure to visit LeaseSmart.com