Retail Site Development Question Master Developer

By
Commercial Real Estate Agent with Northland Real Estate

Processes in selecting a master developer for a new retail project.

In the primary marketing of a prime retail assemblage, usually a viable arterial corner, signalized and ideally located in a market gap for one or two major's (anchor tenants), the selection of the master developer can make or break a project and is not always an obvious decision.

Like any decission made in the marketplace, whether consumer goods, consumables, wholesale, even internet, the available developers are the primary selection in whether a project becomes a go or no go.  Every developer carries around a tool bag of experience, contacts, visualizations, team members and also including financial capacity.  The flavor of those tools can include development of similar sized and configured projects, similar demographic market developments, and various other attributes although the single most important decision may be the matching of the contacts available to the developer with the apparent opportunities or gaps in the market for the particular development site.  Interpreting and discovering these gaps is the key to targeting the correct end users.  When it is possible to determine the end users, and sometimes this is very simple, other times it is a very complex formula, the solution set is found the primary one or two anchor tenants that will experience and thus bring the most success to the site.  The success will then draw additional infill tenants that will nicely compliment a successful development.

This can be as simple or complex as one makes it although it is very important to seek competent advice in determining and interpreting these factors.    

Comments (0)