12C — August 29 - September 11, 2014 — Shopping Centers — M id A tlantic
Real Estate Journal
S hopping C enters ByC. Smith, G. Halteman&J. Majczan, Prime Sites Realty Tenant representation: advice from a veteran team
STRIP CENTERS NEAR NORTHEAST PA’S LARGEST REGIONAL MALLS
ongevity of the re- lationship by Carl- ton Smith, the man- aging member of Prime Sites Realty The best tenant reps are the ones that put their clients interest first before their own which sounds simple but for many brokers it is difficult with the numerous conflicts of interest that can exist. The best tenant reps have the ability to define the prime trade areas for expansion, thoroughly research those areas, prepare and present the findings of their research, L
• 31,420 Square Feet on 2.75 Acre Site • Stucco Finished Block Construction • Individual Utilities • At Traffic Light • Opposite Toy’s ‘R Us & McDonald’s • Adjoins Million SF Wyoming Valley Mall and Numerous National Big Box & Strip Center Located Retailers & Restaurants • High Traffic Count • Attractive Demographics • Mix of National & Regional Tenants Pine Mall 695 Kidder Street Wilkes-Barre, Pennsylvania
Mountainside Plaza 2243 Scranton Carbondale Hwy, Dickson City, Pennsylvania • 20,400 Square Feet on 1.5 25 Acres • Vinyl Sided, Wood Trimmed Frame Construction • Individual Utilities • Fifty Feet From Traffic Light • Adjoins McCann Technical School • Near 750,000 SF Viewmont Mall and Numerous National Big Box & Strip Center Located Retailers & Restaurants • High Traffic Count • Attractive Demographics • Goodwill Industries is Major Tenant
Carlton Smith Gordon Halteman
and tour the sites with their clients. Once the prime site is selected the true separa- tion between ordinary to good brokers and the best brokers is in the art of the negotiation
for the best economics for the tenant. Although the broker and tenants goal is to have a long term relationship, a small percentage actually survive long term but if the broker has all the above mentioned qualities, the re- lationships evolve into long term relationships. As an example, Carlton Smith of Prime Sites has been Red- ner’s Warehouse Markets exclusive broker for the last 23 years. The results speak for themselves. Carlton has delivered quality sites with exceptional economics and Redner’s due to their ex- ceptional ability to operate supermarkets has grown to over 4,700 employees with yearly sales approaching 1 billion per year. Defining the trade area by Gordon Halteman a new and key arrival at Prime Sites Realt y Many people think the process is a simple one be- cause most look at the com- mon elements which include natural and man made bar- riers, travel time, accessibil- ity to the trade area, site, demographics, competition, growth or decline of a trade area, store spacing and most importantly understanding your tenants dynamics. The key difference in what sepa- rates the best brokers from the rest is their ability to take the data accumulated from the above elements and pro- cess the information based upon their expertise to iden- tify the prime trade area(s) and prime site(s) which will add to the tenant’s bottom line. Gordon Halteman’s 40 year background of working for na- tional retailers in positions of strategic planning for expan- sion including site selection, sales forecasting, financial analysis and store design al- lows Gordon to bring a skill set to the tenant representa- tion which is unique in the continued on page 31C
Choose Prime Sites Realty, LLC For Tenant Representation and Shopping Center Sales
• PROVEN TRACK RECORD of the best market analysis; delivering the prime locations at the best economics for our clients.
• SEASONED VETERAN TEAM with over 100 years experience with transactions well in excess of 2 billion dollars. Your representative will have over 30 years of experienc e.
• EXCEED YOUR EXPECTATIONS. If you want a broker to exceed your expectations and be totally commited to you, please give us a call.
• SHOPPING CENTER SALES for both the buyer and seller where we deliver market offers to owners without the hassle of mass marketing the center. We have clients seeking up to 1 billion dollars of shopping centers to purchase. Current offers to purchase are in excess of 130 million dollars.
Visit Us in Philly! Booth # 822
Office: 484-580-8502 Carlton Smith Gordon Halteman John Majczan 215-896-4411 973-270-3865 610-442-3481
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