COMMERCIAL SERVICES RETAIL
Our commercial professionals are here to provide you with their expertise in buying, selling, or leasing retail space, whether it be for investment or self-occupation.
OUR SPECIALISTS ARE Here to Assist you
Handling retail premises involves dealing with a fascinating
sector of the real estate market.
There are just so many types of retail space—from generic high street stores to specialist fashion or accessory stores; from groupings of neighborhood shops forming a local community mall; to out-of-town retail parks and then to major, multi-use shopping centers.
As you can imagine, no matter which retail sub-sector you are involved with, there are a myriad of issues to deal with. But, not to worry, whether you are a landlord or tenant, seller or buyer of retail space, one of our professional commercial property advisors at Century 21 will be able to assist you.
As a generalization, it’s not often that retailers buy the space they occupy, with most preferring to lease. This allows flexibility for expansion (or contraction in more difficult economic times), in changing locations in case of being unsuccessful, and also enables retailers to keep their balance sheet light.
On the other hand, there is a strong pool of investors who acquire retail property for the cash-flow or rental yields, with the larger shopping centers and primely located retail space being favored by institutional-grade investors or REITs.
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We can help you with issues relating to…
LOCATION
For many retailers, location is of key importance as they rely on passing pedestrian footfall for their business. For other retailers they are a “destination” in their own right and customers will come to them, but they still need visibility and accessibility. Some retailers, such as fast-food operators, operate in both types of spaces.
Investors will always look for well-located retail properties close to population catchment areas and with good accessibility and potential for long-term growth.
SPECIFICATION QUESTIONS
Is the retail frontage wide enough or suitably visible to all potential customers? What is the landlord providing in terms of fit-out—is the space bare or has basic building services such as HVAC, sprinkler systems, floor, and ceiling finishes?
USAGE
Are there any restrictions on usage, either by the building owner or local authorities? Some districts do not allow alcohol sales in certain locations, for example, and many large shopping center owners have their own plans about what constitutes an appropriate mix of retail tenants;
DURATION OF LEASE
Are leases typically 1 year, 3 years, or maybe even 10 years; and is there a right or an option for a tenant to renew the lease after the first rental period (the "Term") expires?
RENTAL BASIS
How is the rent calculated, is it only on the space occupied? Or is the rent related to the turnover of the retailer, either 100% turnover based, or with a low base rent and the rest of the rent calculated according to the success of the business?
What is the basis of the lease: Triple Net (“NNN”), Double Net (“NN”), or just Net (“N”) lease. If you don't know what these terms mean, or are unsure, best ask one of our professionals.
COMMON AREA MANAGEMENT ("CAM") AND MARKETING FEES
How much are these, and who pays? Is there a separate levy for marketing exposure of the shopping center or neighborhood mall?
SECURITY DEPOSIT
How much is this and what is it for?
CAR PARKING
Are plenty of spaces available for customers and/or is there a charge to the retailer or the customer for such usage?
The retail specialists at Century 21 are both knowledgeable and experienced about the above issues and can provide a full service regarding all of your retail needs.
If you are ready to talk, whether you are a landlord or a tenant, a buyer or a seller, all you have to do is call or email us now!
Find Your Local Specialist Now!
Our Commercial Advisors offer local knowledge
with a global reach.