Using a Retailer Database to Find Unique Tenants

Commercial real estate is no stranger to retailer databases. They are a must have when trying to broker new tenants. Traditionally, accessing these databases will provide you with lists of nationwide chains and well-known franchises that includes contact information for key decision makers.Dig a little deeper, and you often find information pulled from public reports and websites, aggregated for easy digestion; much of which is outdated by the time you access it. The information may save you an hour or two in research, but overall it leaves a huge hole in the tenant story for your local commercial spaces. Plus, when the contacts provided are outdated, you are back to square one with your outreach search.

Using these old spreadsheet-based retailer databases leaves you wondering if there is a better way? You want to fill empty commercial spaces with brands that appeal to the local market. And you're looking for tried-and-true brands, along with up-and-coming names. Can you easily find regionally-specific options that cater perfectly to your target audience? Here’s what to look for when you’re evaluating your next retail database.

Information With Local Flavor

Bring variety and interest to your retail spaces by going beyond commonly known brands. Having diverse and exciting brands within your tenant mix speaks to local tastes and turns your retail space into a destination. Making sure your space works cohesively, and doesn’t feel like a random collection of stores, ensures that those you rent space to symbiotically boost each other. There’s been a surge in supporting local business over national chains in the last few years—and that trend is here to stay. You need a database that helps you leverage this trend towards localization.

Detailed Data

Deciding on a tenant goes beyond the basic bullet points. You need to uncover exactly what works for your space based on region, square footage, rent requirements, and even how new tenants will interact with other brands within your space. Understanding how a brand fits into these parameters requires data. Simple access to this information helps you determine the most reliable tenants, those with curb appeal, a clean record, and proven success‚Äîwhich all translates into on-time rent and a profitable business. 

Forward Focus

Popular retail concepts are constantly evolving, and this can vary by city, state, or region. By choosing a database that allows you to tap into local trends, you‚Äôll find unique tenants who fit your market demand. Ensuring that you have your finger on the pulse of the local market is important in keeping your spaces fresh and attractive to the consumer. Finding a database that aggregates data on a regional level can help you stay on top of your market, not just the national market. 

The next generation of retail databases is here.

The era of spreadsheets and outdated information is behind us. Retailsphere is a constantly updated, SaaS based retailer database with more than just contact information. With Retailsphere, you get a full snapshot of the brand, including financials, social highlights, and public reviews of the brand. 

Plus, Retailsphere profiles and tracks local, regional, and national businesses to ensure our clients are one step ahead of the competition. In fact, you can even use Retailsphere’s database to find out which tenants your competitors currently lease to, and use that information to make sure your spaces stand out from the crowd.

Interested in seeing just how Retailsphere works, and how it can help upgrade your tenants? Schedule a no-obligation demo today. 

June 22, 2020
Barton Strawn

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