Customer experience and a killer business plan – a robust blend
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Topics: Retail Stat, Josh Suffin, commercial real estate, PropTech, retail trends, relationship building, retail services, market analysis, retail evolution, industry insights
In this episode of Retail Retold, host Chris Ressa and Travis Farren, Vice President of Leasing at DLC, are feeling the vibes of a unique coffee shop that opened at La Frontera Village, just outside of Austin, TX. Putting the customer experience at the center of the shop, the owner was executing on a robust business plan that has set him up for success.
With over 20 years in the industry, Travis shares his experience with the dynamic changes in retail leasing over the past five years, the impact of COVID-19, and the innovative retail concepts and trends that are emerging in the market.
Takeaways
- Retail leasing has been a roller coaster over the last five years.
- COVID-19 shifted focus from deal-making to maintaining relationships.
- DLC had its best year ever in leasing last year.
- Innovative concepts like Coffee Enlightenment are reshaping retail.
- A comprehensive business plan can expedite lease negotiations.
- Children’s entertainment is a growing trend in retail leasing.
- Investments in existing retail spaces are on the rise.
- Strong partnerships with local brokers can lead to successful deals.
- Efficient deal-making requires thorough preparation and communication.
- The retail market is adapting to new consumer demands and preferences.
Chapters
00:00 Introduction to Travis Farren and his background
01:58 The roller coaster of retail leasing
05:03 Innovative retail concepts: Coffee Enlightenment at La Frontera Village
11:52 Efficient deal-making in retail leasing
18:05 Current trends in retail leasing
About Retail Retold:
The Retail Retold Podcast highlights community retailer stories from across the country and gives a behind-the-scenes perspective from business leaders in both retail and real estate industries. The show’s episodes contain valuable insights that help solve the needs of entrepreneurs and real estate pros. Join host Chris Ressa and new guests weekly for amazing insights and thought-provoking stories.