News and Events
In Choosing Sites, Retailers Want Traffic Counts, But Landlords Don't Deliver
Expanding retailers face road blocks.
Jul 28, 2010 Retail Traffic Elaine Misonzhnik
Expanding retailers want to know as much as they can about retail centers before signing leases, but they’re finding that landlords are being less than forthcoming when it comes to a specific piece of data: foot traffic counts.
The issue has gained particular relevance today, as fewer tenants are expanding and the ones that are thinking about new stores have become extremely careful about choosing appropriate locations.
Landlords have always had a spotty record in providing traffic metrics, according to industry insiders. And the number of landlords who can provide current traffic counts has dropped dramatically, says Eileen F. Mitchell, executive vice president with RCS Real Estate Advisors, a New York City-based real estate advisory firm.