Too Much Retail Space?
Denver’s got an excess of retail space these days, especially in-line space. Getting it leased in the current climate requires some good old-fashioned leg work, Legend Retail Group founding partner David Larson tells us. (Hope you've been doing your squat thrusts.)
A solid leasing strategy for small retail space is about the same as it’s always been, David says: among other things, it involves wearing out a little shoe leather to canvass shopping centers and figure who might want to relocate. “It takes focus,” he says. “It’s more than being on your computer and hoping someone comes to you. Electronics has made things easier in some regards, but it isn’t going to close deals.” (Don't let the electronics hear you say that, lest they rise up and conquer us.) Snapped: David’s colleagues, whom he calls the backbone of Legend’s retail leasing efforts: Adam Rubenstein, Julie McBrearty, and Blake Larson.
Recently Legend won leasing assignments for properties totaling more than 1.8M SF from three major Denver retail owners: AmCap, Brixmor Property Group, and Kimco. David says his company’s smaller size is an advantage in the game, since they’ll be able to give the space more personal attention than a large brokerage. Pictured: Brixmor’s 278 SF Superior Marketplace, one the properties Legend is now leasing; about 48k SF is available.