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Owners of retail real estate look to Lerner for our market knowledge, our relationships with active retail chains and our understanding of the retailer site selection and decision-making process. With our vision and experience we are able to advise owners of the most likely outcome at the outset of the property marketing process and meet their goals and objectives.

Asset Analysis

The first step in the property leasing/sales process is to perform an analysis of the retail asset. This is essential in identifying the parameters for potential prospects prior to implementing a marketing strategy. This analysis takes into account issues such as tenant mix, area demographics, positioning in the market (regional, community, neighborhood, etc.), and physical constraints.

Market Study

A study of the trade area is done in order to determine the external conditions which may affect the pool from which new retail tenants /buyers may be drawn. Market rents, competing centers, economic conditions, community infrastructure, zoning, and projects in the pipeline may all be reviewed as part of this study.

Marketing Plan

With the Asset Analysis and Market Study in hand, a Marketing Plan is developed in order to map out a strategy for results-oriented leasing and sales. The plan should allow for the highest and best use of the space/location, one in which the best possible tenant/buyer creates the greatest amount of profit while maximizing rents/ NOI, creating a more synergistic tenant mix, and thereby creating greater asset stabilization and value for the landlord. It is important to match the correct tenants to the current customer demands.


As part of the Marketing Plan implementation phase, project-specific marketing activities are undertaken in order to provide for the most targeted merchandising to the retail tenant list. Steps such as the creation of promotional materials, Internet publication, electronic marketing, leasing/sales signage, focused prospecting and representation at ICSC meetings are all integral to the success of the Marketing Plan.

Showings, Proposal Phase and Drafting of the Lease

The goal of the above activities is to generate a level of interest in the property which will lead to showings and an eventual negotiated and executed Letter of Intent. Post-showing/ LOI activities center on the determination of tenant suitability by the submission of financial and other relevant information as part of the qualifying process. As the final step, coordination with legal and financial representation in the negotiating and drafting of the Lease or sale documents are performed.

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