Experience, Understanding and Comprehensive Service
Relationships are important to selling or leasing new projects. We have been leasing and selling commercial properties for sixteen years. We know the players and can get through to them; this is half the battle! Here are just some retailers we know and have worked with in the past:
COSTCO, GAP, MORTONS, CHEESECAKE FACTORY, PF CHANGS, J. ALEXANDERS RESTAURANT, WALGREENS, CVS, KINDERCARE, HOME DEPOT, MENARDS, BEST BUY, HOLLYWOOD VIDEO, FOOTLOCKER, LAPETITE, FASHION BUG, ALDI, ARBYS, KFC, PIZZA HUT, STEAK & SHAKE, MCDONALDS, BURGER KING, POPEYES, 7-11, WHITE HEN, AMOCO, CELLULAR ONE, POTBELLYS, and GNC.
If you are leasing a retail property, you have to make your property attractive to as many prospective retailers as possible. In today’s competitive marketplace, this means more than just putting up a “for sale” or “for lease” sign.
You have to anticipate what prospective retailers will require. We take an area study for each project factoring in rental rates, land prices, market history, surrounding businesses and new marketing trends. If you are developing a shopping center, we also offer pre-leasing to help you obtain your acquisition or construction loan.
In the past few years we have leased four new shopping centers. From 2001 to 2003 we sold or leased over 1.25 million square feet of retail properties. Here is a partial list of clients we have made deals with: GAP, Kinder Care, LaPetite, Walgreens (developer), CVS, Arby’s, Denny’s, Dunkin Donuts/Baskin Robbins, Subway, Quiznos, Pickermans Deli, AT&T, Trak Auto, Jiffy Lube, Tuffy Automotive, SuperWash, Discount Tire, Michelin Tires, Dollar General, Edward Jones & Co., J Silver Clothing, Mattress Giant, and Great Clips.
We have handled centers from 10,000 feet up to 300,000 feet. We recently leased the following new strip centers: a 30,000 square foot center in Cicero and a new 22,000-foot center in Bolingbrook anchored by Kinder Care. Neither had much going on for new prospects–they did not have the experience or relationships required to adequately lease a new center and they were busy dealing with the construction of the center. We took over and leased up both centers; and we brought in national tenants such as Hollywood Video and AT&T.
We also leased two new 15,000 square feet centers in Aurora at Eola & North Aurora Road and in Plainfield at Route 59 & 135th Street. We brought in national tenants like Subway, Pizza Hut, Great Clips, US Cellular, Curves, and H & R Block.
16 Years+ in retail leasing and relationships with retailers and retail brokers. We are the exclusive brokers in certain areas for Dollar General, Arby’s, Meineke, AAMCO, and J Silver Clothing.
As vice-president of retail and industrial leasing at Benjamin Sherman & Sons, Mr. Lofchie was in charge of a retail portfolio of over one million square feet. As vice-president at Litvin LaRue Greenfield, Mr. Lofchie leased several shopping centers and shared responsibility with the Best Buy and Eagle Grocery Store accounts.
Judd Lofchie has also leased enclosed malls, big boxes and large strip centers.
Exposure to Market
The key to sell your property or fully lease your project is to keep your center in front of as many prospects as possible. As members of the International Council of Shopping Centers (ICSC), we attend all local and national meetings, which are well attended by retailers and retailer brokers who are expanding and looking for new locations. We always have a “leasing booth” at these shows and schedule endless appointments with prospective retailers where we show them our properties. The next ICSC show is in Chicago in October where we will have a booth.
Using a large seasoned database, we will conduct direct mailings to both retailers and retail brokers to identify and locate prospective buyers and tenants. Also we use E-BROCHURES as an effective and a cost-effective way to instantly get our properties in front of many qualified prospects.
Judd Lofchie has been recognized as “Citizen of the Year” and “Citizen of the Month” by Lerner Newspapers in Chicago and a finalist for “Entrepreneur of the Year” by “Entrepreneur Magazine” and Merrill Lynch. He has received the Martin Luther King Award from United Healthcare and is the founder of the newspaper, “Streetwise”, in Chicago and “New Day” in Michigan which provide jobs, support, and training for the homeless.
We keep current by reading many trade journals and are members of the following organizations:
INTERNATIONAL COUNCIL OF SHOPPING CENTERS
NATIONAL ASSOCIATION OF REALTORS
REALTOR ASSOCIATION OF WESTERN SUBURBS