Friday, January 19, 2018

Landlords speed store openings by streamlining lease process

ICSC

Internet retailers and other merchants new to the physical space tend to get bewildered by the length of the modern lease process. In a session at ICSC’s New York Deal Making last December, Kyle Ashley, director of retail innovation for eyewear vendor Warby Parker, urged landlords to make the process quicker, easier and more transparent. “Why does it take five months to negotiate a lease?” Ashley asked.

One of the surest ways to speed the process is to use in-house leasing personnel, says Gerald Crump, a Weingarten Realty senior vice president who oversees the central region. “This gives us the ability to make quick decisions and coordinate immediately with our legal group, all of which takes time off the lease-negotiation process.”. . . more