How to use VTS to power your prospecting and leasing process

The 15 min Demo

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% 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

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

Young brunette woman and a senior lady using their devices while sharing a desk and keeping social distance

Architectural background. Modern white concrete arched composition of city bridge in perspective. Semicircular shapes. The light in the end.

Across the country, there is a positive net absorption rate of 66.6M sq ft.

% Average monthly asking rent of shopping center real estate in United States from 2020 to 2023, by region requirements

27.5

22.5

17.5

Monthly rent in U.S. dollars per square foot

2020

2021

2022

2023*

United States

Northeast

Midwest

South

West

Source: Statista

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.

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

times

Nexio viewed Suite 1201

Nexio viewed VTS Tower's Building Page

Nexio viewed Virtual Tourbook 8 times

Gensler, initiated by Nexio, viewed the space

National Association of Realtors

State of the Market—Retail Tenant Behavior

Wall Street Journal

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Let’s walk through an example that shows how

VTS Market

sheds light on what is today a black box for retail leasing teams.

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.

Attract the right tenants to your portfolio

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Gain visibility into demand across your portfolio so you can more quickly convert qualified tenants into tours.

NEXT STEPS

Attract the right tenants to your portfolio

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Get alerted when tenants are looking at your space before they’ve officially entered the market or in the least, before they’ve inquired with you specifically.

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.

NEXT STEPS

Prospect with precision

Identify growth opportunities with national tenants.

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NEXT STEPS

Prospect with precision

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NEXT STEPS

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.

Get the right deal done for the asset

Ensure you're closing the best deals with centralized deal management and financial analysis tools.

SEE IT IN ACTION

NEXT STEPS

Get the right deal done for the asset

SEE IT IN ACTION

Get alerted when tenants are looking at your space before they’ve officially entered the market or in the least, before they’ve inquired with you specifically.

NEXT STEPS

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.

Ensure tenants move in on time

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Create transparency among stakeholders and ensure tenants are moving in on time with tenant coordination workflows.

SEE IT IN ACTION

Get alerted when tenants are looking at your space before they’ve officially entered the market or in the least, before they’ve inquired with you specifically.

Ensure tenants move in on time

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.

Grow revenue with top tenants in your portfolio

SEE IT IN ACTION

NEXT STEPS

Leverage insights about your portfolio-wide tenant network to retain and grow your most strategic customers.

SEE IT IN ACTION

Get alerted when tenants are looking at your space before they’ve officially entered the market or in the least, before they’ve inquired with you specifically.

Grow revenue with top tenants in your portfolio

NEXT STEPS

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.

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