A relationship with a property owner typically begins when a development is still just a concept, and continues to the planning and design phases, where in-depth demographic and competitive studies are conducted to help determine the best tenant mix for a center. As the development process becomes more complex with environmental considerations and community concerns creating new obstacles it’s become increasingly difficult to locate prime parcels of land. But, R.J. Brunelli & Co. can help owners navigate today’s formidable development maze by providing assistance through every stage of a new development, beginning with land acquisition:
The company can identify suitably sized parcels with appropriate zoning, tapping its comprehensive land data bank on available shopping center sites along New Jersey’s major retail highways and in neighborhood commercial pockets where supermarkets may anchor centers.
As soon as the property has been put under control, the company works with the owner to create a leasing-driven site plan that’s based on comprehensive demographic and competitive market surveys. This process strives to ensure that layouts will complement the proposed leasing concept. The lease plan also seeks to locate complementary tenants within the center to maximize foot traffic at each retailer’s storefront.
The firm develops a presentation package for financing applications, assists with the approvals process and, if necessary, provides expert testimony before community planning boards
Many of those same services are extended to owners seeking to redevelop an under-performing center. Of course, sometimes competitive and other factors may render an existing center or freestanding building no longer suited for traditional retail use. In such cases, R.J. Brunelli & Co. has a successful track record in finding alternative applications, from self-storage facilities to large health clubs. Those owners desiring to sell their centers will find R.J. Brunelli & Co.’s expertise to be a valuable resource. Because investors typically base financial decisions on a center’s future value, R.J. Brunelli & Co.’s team leaders use their extensive knowledge to develop and document models that predict potential new leases for a property as old leases expire. This brings extra value to an owner who wants to sell a property quickly and at the best possible price.