The primary obligation of Urban’s leasing department? MAXIMIZE all revenue streams, either in place or yet to be tapped. Leasing is about a lot more than filling space. We believe leasing is part science, part art and solid business. The result of this philosophy is profitable tenants and performance driven properties.
Among Urban’s strengths as a real estate management company is our in-depth analytical approach to improving the value of the asset and the attention to detail in executing the plan. We begin with an in-depth assessment of the asset using methodology that ultimately leads to a customized merchandise plan.
Our contacts with virtually every national and regional retailer in the industry greatly strengthens our ability to attract the right retailers for a project. Additionally, we work the local markets to supplement the tenant mix at each property.
OUR LEASING TEAM CONSISTS OF THESE FIVE GROUPS:
AND IS ROOTED IN THESE FIVE FUNDAMENTALS:
Urban’s Specialty Leasing Group focuses on rounding out merchandising categories and generating additional revenue by adding kiosks, Retail Merchandising Units (RMU’s) and filling vacant space with professionally presented merchandise. The Specialty Leasing Group typically deals with lease terms of less than one year. We are active at all of the regional shopping centers we manage and oversee a kiosk/RMU program at the majority of our properties across the country. Another major focus is to identify temporary tenants that will occupy in-line spaces until a permanent tenant can be signed. Often, temporary tenants are so successful that they themselves become permanent tenants.
The Specialty Leasing Group analyzes each center’s size and physical constraints, department store REA’s or other tenant restrictions, as well as local market conditions to identify the quantity and appropriate locations for these types of tenants. Design criteria for these RMU’s and kiosks is carefully developed and enforced for each center so as not to obstruct sight lines or block storefronts of in-line merchants.
The Specialty Leasing Group is also sensitive to product quality and merchandise presentation. We make certain that every tenant adheres to the comprehensive rules and regulations we establish for each property.
In order to expand our list of temporary prospects, the Specialty Leasing Group constantly seeks out new merchandising concepts. We also work within the local community to develop niche opportunities for entrepreneurs. This allows Urban to define each center uniquely and draw from the surrounding market for tenants that will reflect local color.
The Specialty Leasing Group strives to add unique and exciting concepts to each and every property. As a result, our specialty leasing programs successfully generate millions of dollars in income each year.