Purely digital, online businesses once praised (and condemned) for disrupting the traditional way consumers buy and use goods and services are increasingly going old school, opening physical brick and mortar stores in shopping centers across the country. The reasons for this shift go back to basic sales 101 strategies, including increasing brand awareness, building stronger connections with customers and providing inherent value by allowing customers to physically touch and evaluate products at the point of sale, which can help reduce the returns.
While established brands will continue to seek out long-term leases, shopping center owners looking to fill vacant property should be flexible when working with digital native tenants that often prefer leasing space for five years or less. Even with these shorter term leases, property owners can realize long-term benefits, such as attracting traffic to their properties and creating a buzz that will keep consumers and other tenants coming back again and again.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.