I’m Roxy Klein, Senior Vice President of Retail Leasing & Sales with Progressive Real Estate Partners. In Southern California, I specialize in retail commercial real estate throughout the Western Inland Empire, Eastern San Gabriel Valley, and Northern Orange County, helping landlords, tenants, and investors navigate the ever-changing retail landscape.
Retail real estate is about much more than space. It is about people, businesses, and the details that help create successful transactions.
In this edition of Roxy’s Adventures, I am sharing my approach to property showings.
Preparing for a Property Showing
Before I schedule a showing, I like to learn as much as I can about the prospective tenant and their business. I want to understand their background, the type of business they want to open, their experience in the industry, whether they currently operate other locations, how long they have been in business, and their future plans. I also want to understand their financial position, including net worth, financial history, credit, and access to capital.
It is also important for me to understand their existing operations, including estimated annual sales, who is making the real estate decisions, and what they are looking for in their next location.
This information is critical in order to give my clients more insight into who is interested in their space. My job is not simply to open the door for anyone who wants to take a look. My job is to bring qualified prospects through the property who have the experience, financial ability, and business plan to be a successful tenant.
Helping Prospects Visualize the Opportunity
When I show a property, I take the time to help the business owner understand the opportunity and visualize how their operation could work in the space. I always have a laser measure during showings and offer it as a resource so they can get a basic idea of dimensions and start thinking through their plans for the space. I also encourage photos and videos during the showing so they have the information they need to continue evaluating the opportunity after they leave.
Highlighting Co-Tenants and Lease Activity
During the showing, I highlight co-tenants that could be a great fit for the prospect’s business. Every business has different needs, and having the right neighboring tenants can make a difference. I share information they may not know just by touring the property, including recent lease activity of new tenants coming to the center. These conversations can provide valuable insight into the direction of the property and the surrounding trade area.
Exploring the Property and Surrounding Area
Beyond the space itself, I take extra time to walk the property and the surrounding area. If parking is important to a prospect and there is additional parking in the rear of the building, I will walk the entire back area with them so they can see exactly what is available.
If there are traffic generators nearby, I want them to experience those firsthand. One example is a property I have listed near a college. During each showing, I ask the prospect if they would like to take a walk with me to the campus so they can see the proximity and the potential customer base.
These walks usually happen after the showing of the interior of the space, which gives me a great opportunity to learn more about the prospect, their business, and their level of interest. Some of the best conversations happen when you are walking the property or the surrounding area.
Securing the Property After Every Showing
After the showing is complete, my job is not finished.
The same way I am careful about who I bring into a property, I am equally careful about how that property is accessed and secured.
I personally handle the lock-up procedure. I don’t just lock the front door and head to my car. I double-check the front door, then I walk around the building and physically double-check every rear door.
If you have worked with commercial buildings, you know some back doors can be tricky. They may appear locked but not actually be secure. Sometimes they need an extra push or pull before the latch catches. The only way to know for sure is to check the door from the outside.
I have also developed a simple system by keeping each listing key on its own lanyard. It keeps the key secure with me at all times throughout the showing, eliminating the chance of it getting separated or left behind while moving.
Why I Don’t Like Using Lock Boxes
One of the questions I get asked from time to time is why I don’t like using lock boxes on my listings. For me, it comes down to protecting my client’s property and being intentional about who has access to it. The fewer people who have access, the less chance a key is misplaced, copied, or not returned. It also allows me to personally make sure the property is properly secured after each showing by confirming the front door, back doors, and any other access points are locked before I leave. Ultimately, my hesitation with lock boxes comes down to wanting to know who is accessing the property and making sure the property is properly secured every time someone walks through the door. I have also developed a simple system by keeping each listing key on its own lanyard. It keeps the key secure with me at all times throughout the showing, eliminating the chance of it getting separated or left behind while moving through the property.
A Thoughtful Approach to Retail Real Estate
At the end of the day, every property and every tenant is different. My goal is to create a thoughtful process that helps landlords make informed decisions and helps businesses find locations where they can succeed.
Whether you are a property owner looking to lease or sell, a business owner searching for your next location, or just want to talk through the retail real estate market, I am always happy to connect and share what I am seeing in the marketplace.
Thank you for following along on my retail real estate adventures.
Contact Roxy Klein
Roxanne (Roxy) Klein
Senior Vice President, Retail Leasing & Sales
Progressive Real Estate Partners
Call or Text: (909) 576-4259
9471 Haven Ave Suite 110
Rancho Cucamonga, CA 91730
DRE # 01264392