Solutions for Retailers
Competition for Sites is Fierce and There is a Shortage of Quality Shop Space
At N3, we realize that stiff competition for quality, affordable land is a reality many retailers face. That’s why we will move quickly and work directly with your broker to find or build centers to provide you with the sites you need to expand. We will protect your broker and work together to achieve the results you need.
Sales are Not Rising as Fast as Occupancy Costs
Land and construction costs have increased significantly and continue to do so, which is making rent unaffordable. This is a big challenge for retailers. That’s why we strive to buy larger land parcels and to drive down PSF land costs, use our economies of scale to get good construction pricing and are transparent with retailers to accurately assess project costs so they can make an informed decision that’s best for their company.
Retail Real Estate Managers Face High-Growth Quotas and Large Territories
Right now, almost anyone can build a free-standing or small strip center due to easy access to loans and a high amount of cheap equity available. At N3, we pride ourselves on being a professional real estate developer and owner that has survived low points in the market and has thrived in the up-cycles. We have the resources, capital and expertise to handle 10-20 stores per year for each of our clients. We achieve it all on time, on budget with consistent quality regardless of the economic cycle.
Developers Often Turn Out to be Unreliable
N3 operates on three principles: integrity, transparency and efficiency. Ironically, we sometimes don’t win assignments because of that philosophy. Our team members are known for an honest assessment of the expected probability of success for new assignments and a thorough upfront discussion of rent targets versus project costs before we start. We don’t just say anything to get an assignment. If we take an assignment, we do so knowing it can be successful. If not, we honor the retailer by explaining why we don’t think the plan will work and help them adjust to a workable strategy, thereby avoiding any missed opportunities.
Sometimes, Retailers Just Don’t Have the Time to Do Everything
At N3, we’ll do everything we can on our side so that you can be successful in your role. In addition to always doing what we say we’re going to do, such as giving you accurate information upfront and finding and delivering your stores on time; we’re committed to going the extra mile. We will work side-by-side with your brokers, bringing organization to the roll-out while giving written weekly updates, providing live project camera feeds, completing construction timely and anything else that will help you achieve your goals. N3 Real Estate is here for you.