How to use VTS to power your prospecting and leasing process
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How to use VTS to power your prospecting and leasing process
The 15 min Demo
start
VIEW FULLSCREEN
1
3
2
1
% of requirements <10k sf nationwide
66%
68%
70%
71%
The retail market has continued to rebound, with average asking rents up 3.6% nationwide in the last 12 months.
National Association of Realtors
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
2
National Association of Realtors
Across the country, there is a positive net absorption rate
of 66.6M sq ft.
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
3
Strip mall traffic has increased 18% compared to pre-pandemic levels.
National Association of Realtors
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
NEXT
4
start
The retail industry is at its strongest point in years. There’s an opportunity to capitalize on this by signing above-market deals with creditworthy tenants.
To do this, you need to know in real-time when those tenants are interested in your properties and move them through the deal process efficiently.
SEE IT IN ACTION
Attract the right tenants to your portfolio
01
Gain visibility into demand across your portfolio so you can more quickly convert qualified tenants
into tours.
Imagine you’re the Director of Leasing for a portfolio of retail properties in the southeastern U.S. You have a 20k sqft availability in Crestwood Center in Atlanta. You’re looking to fill the space with a nationally-known apparel brand to draw a younger crowd.
Your firm gets an average of 20 inbound leads from various avenues, but not all of them look qualified. You look in VTS and see a lead coming in from a smaller retailer and ZenActive, an athletic brand with a nationwide presence.
The smaller retailer doesn’t reach the demographic of your center, so they’re immediately disqualified and added to your TIMs list for future opportunities. Because your Leasing Coordinator quickly reacts to ZenActive’s online interest, your National Head of Leasing is able to schedule a meeting with ZenActive’s team at ICSC the following week.
A week ahead of ICSC Vegas, your marketing team sends a curated tourbook to ZenActive’s tenant rep to highlight the top options in your portfolio. You get a response from ZenActive’s Head of Real Estate; they’re interested in available spaces across a handful of markets, not just the space in Atlanta.
After a successful ICSC, your marketing team informs your Head of Real Estate that it’s time to apply some pressure on ZenActive. They’ve viewed the tourbook over 20 times across 3 different regions. After getting the tenant rep on the phone, the tenant rep confirms their client is interested in scheduling tours in Atlanta and Savannah. Your options are top of their short list.
SEE IT IN ACTION
Prospect with precision
02
Identify growth opportunities with national tenants.
You have a successful tour with ZenActive. After the tour, you see new views from their legal and design teams. This is a great sign that they’re interested in the space! The deal continues to progress, so you begin putting together a proposal. Before you send the proposal, you double-check the site plan and notice an encumbrance within your current tenant’s lease, FitFlex.
FitFlex has a termination clause if a larger national athletic brand enters the site. When pulling up details about the two tenants in VTS, you see that ZenActive’s proposed NER is higher than the space budget, and FitFlex has both a high occupancy cost ratio and has been struggling. This leads your team to proceed with ZenActive, knowing you will likely need to backfill FitFlex’s space.
SEE IT IN ACTION
Get the right deal done for the asset
03
Ensure you're closing the best deals with centralized deal management and financial analysis tools.
Your job isn’t over when the lease is signed. To avoid financial penalties caused by a late move-in, it’s crucial your team has a plan to ensure all project milestones are met and ZenActive opens on time.
Once the lease is signed, project milestones are automatically assigned to owners throughout the deal lifecycle. Legal, construction, asset management, and property management are provided visibility and accountability over the agreed-upon timelines in one clean view.
After managing the move-in process within VTS correctly, your team has ZenActive prepared to open their doors and welcome their first customers on time.
SEE IT IN ACTION
Ensure tenants move in on time
04
Create transparency among stakeholders and ensure tenants are moving in on time with tenant coordination workflows.
Tenant may terminate lease if a competing athleisure brand enters the center.
You have a centralized view of every lease, deal, and interaction with ZenActive in VTS. After looking at your Tenant Insights dashboard, you see that ZenActive is one of your 10 largest customers based on portfolio-wide revenue exposure. This is a key relationship to nurture and expand.
Over the course of your Crestwood Center lease with ZenActive, your local team tracks important updates about tenant interactions in VTS. When it comes time to renew the lease, your team has all the information they need to build their renewal strategy and unlock further growth opportunities with the customer.
SEE IT IN ACTION
Grow revenue with top tenants in your portfolio
05
Leverage insights about your portfolio-wide tenant network to retain and grow your most strategic customers.
BOOK A DEMO
Want to learn more?
Copyright View the Space, Inc. 2023
BACK TO TOP
How to use VTS to power your prospecting and leasing process
The 15 min Demo
start
VIEW FULLSCREEN
1
3
2
1
% of requirements <10k sf nationwide
66%
68%
70%
71%
The retail market has continued to rebound, with average asking rents up 3.6% nationwide in the last 12 months.
National Association of Realtors
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
2
National Association of Realtors
Across the country, there is a positive net absorption rate
of 66.6M sq ft.
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
3
Strip mall traffic has increased 18% compared to pre-pandemic levels.
National Association of Realtors
STATE OF THE MARKET—RETAIL TENANT BEHAVIOR
NEXT
NEXT
4
start
The retail industry is at its strongest point in years. There’s an opportunity to capitalize on this by signing above-market deals with creditworthy tenants.
To do this, you need to know in real-time when those tenants are interested in your properties and move them through the deal process efficiently.
SEE IT IN ACTION
Attract the right tenants to your portfolio
01
Gain visibility into demand across your portfolio so you can more quickly convert qualified tenants into tours.
Imagine you’re the Director of Leasing for a portfolio of retail properties in the southeastern U.S. You have a 20k sqft availability in Crestwood Center in Atlanta. You’re looking to fill the space with a nationally-known apparel brand to draw a younger crowd.
Your firm gets an average of 20 inbound leads from various avenues, but not all of them look qualified. You look in VTS and see a lead coming in from a smaller retailer and ZenActive, an athletic brand with a nationwide presence.
The smaller retailer doesn’t reach the demographic of your center, so they’re immediately disqualified and added to your TIMs list for future opportunities. Because your Leasing Coordinator quickly reacts to ZenActive’s online interest, your National Head of Leasing is able to schedule a meeting with ZenActive’s team at ICSC the following week.
A week ahead of ICSC Vegas, your marketing team sends a curated tourbook to ZenActive’s tenant rep to highlight the top options in your portfolio. You get a response from ZenActive’s Head of Real Estate; they’re interested in available spaces across a handful of markets, not just the space in Atlanta.
After a successful ICSC, your marketing team informs your Head of Real Estate that it’s time to apply some pressure on ZenActive. They’ve viewed the tourbook over 20 times across 3 different regions. After getting the tenant rep on the phone, the tenant rep confirms their client is interested in scheduling tours in Atlanta and Savannah. Your options are top of their short list.
SEE IT IN ACTION
Prospect with precision
02
Identify growth opportunities with national tenants.
You have a successful tour with ZenActive. After the tour, you see new views from their legal and design teams. This is a great sign that they’re interested in the space! The deal continues to progress, so you begin putting together a proposal. Before you send the proposal, you double-check the site plan and notice an encumbrance within your current tenant’s lease, FitFlex.
FitFlex has a termination clause if a larger national athletic brand enters the site. When pulling up details about the two tenants in VTS, you see that ZenActive’s proposed NER is higher than the space budget, and FitFlex has both a high occupancy cost ratio and has been struggling. This leads your team to proceed with ZenActive, knowing you will likely need to backfill FitFlex’s space.
Tenant may terminate lease if a competing athleisure brand enters the center.
SEE IT IN ACTION
Get the right deal done for the asset
03
Ensure you're closing the best deals with centralized deal management and financial analysis tools.
Your job isn’t over when the lease is signed. To avoid financial penalties caused by a late move-in, it’s crucial your team has a plan to ensure all project milestones are met and ZenActive opens on time.
Once the lease is signed, project milestones are automatically assigned to owners throughout the deal lifecycle. Legal, construction, asset management, and property management are provided visibility and accountability over the agreed-upon timelines in one clean view.
After managing the move-in process within VTS correctly, your team has ZenActive prepared to open their doors and welcome their first customers on time.
SEE IT IN ACTION
Ensure tenants move in on time
04
Create transparency among stakeholders and ensure tenants are moving in on time with tenant coordination workflows.
You have a centralized view of every lease, deal, and interaction with ZenActive in VTS. After looking at your Tenant Insights dashboard, you see that ZenActive is one of your 10 largest customers based on portfolio-wide revenue exposure. This is a key relationship to nurture and expand.
Over the course of your Crestwood Center lease with ZenActive, your local team tracks important updates about tenant interactions in VTS. When it comes time to renew the lease, your team has all the information they need to build their renewal strategy and unlock further growth opportunities with the customer.
SEE IT IN ACTION
Grow revenue with top tenants in your portfolio
05
Leverage insights about your portfolio-wide tenant network to retain and grow your most strategic customers.
BOOK A DEMO
Want to learn more?
Copyright View the Space, Inc. 2023
BACK TO TOP
1
3
4
2
1
% of requirements <10k sf nationwide
66%
68%
70%
71%
Year-over-year change in the number of retail stores nationwide
4,000
2,000
-2,000
-4,000
-6,000
-8,000
2019
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1
Q2
Q3
Q4
2020
2021
2022
Chart: Irina Ivanova Source: UBS
The retail market has continued to rebound, with average asking rents up 3.6% nationwide in the last 12 months.
State of the Market—Retail Tenant Behavior
NEXT
2
Across the country, there is a positive net absorption rate
of 66.6M sq ft.
NEXT
% Average monthly asking rent of shopping center real estate in United States from 2020 to 2023,
by region requirements
30
27.5
25
22.5
20
17.5
Monthly rent in U.S. dollars per square foot
15
2020
2021
2022
2023*
United States
Northeast
Midwest
South
West
Source: Statista
3
40%
of all tours are undisclosed tenants
60%
of people prefer shopping in person
Strip mall traffic has increased 18% compared to
pre-pandemic levels.
NEXT
4
Demand for the best spaces is fierce with many retailers becoming more selective about location, flexibility, size, etc.
State of the Market—Tenant Behavior
Searching online
Working with a tenant rep
Ready for an in-person tour
Debriefing after the tour
Evaluating deal terms
01
times
Nexio viewed Suite 1201
Nexio viewed Suite 1201
Nexio viewed VTS Tower's Building Page
Nexio viewed VTS Tower's Building Page
Nexio viewed Virtual Tourbook 8 times
Gensler, initiated by Nexio, viewed the space
NEXT
National Association of Realtors
National Association of Realtors
State of the Market—Retail Tenant Behavior
State of the Market—Retail Tenant Behavior
Wall Street Journal
4
In a few easy steps, VTS Market can launch your new powerful, modern digital marketing presence
We Create a Content Strategy for Your Asset
What We Need -
In Partnership with Your Broker
What We Deliver
After agreeing on the asset and spaces to shoot, VTS goes onsite to capture content
VTS will develop
• Building and listing pages
• Building photos and video
•
•
Access to the decision making team
To populate listings and the building page, the following data is needed
Size, Availability Date, Lease Type, Condition, Asking Rent, Floor Plan,
Amenities, Year Built of Asset, Building Description, Notable Tenants
•
•
• Listing photos, videos, and virtual test fits
• Digital tour book, and floor plan with VTS content embedded
Building & space content for one asset
Size, Availability Date, Lease Type, Condition, Asking Rent, Floor Plan,
Amenities, Year Built of Asset, Building Description, Notable Tenants
•
•
•
•
•
Existing marketing content embedded with new collateral
Creation of bespoke Digital Tourbook
Leasing team trained on all content created
Presentation of above items to Exec team