9th TUESDAY 6:00pm
Event Location Administrator Event Duration
Retail Leasing: Tenant Representation Manhattan Aaron Gavios 3.75hr
Choosing Tenants 15 minutes

1. Principals are financially viable with adequate capitalization

2. Principals have significant experience, with over 5 years owning and

operating a similar concept

3. Current retail operations have excellent reviews, ratings and significant PR

4. Principals are determined to open another retail location in less than 6

months

5. Principals are easily accessable, with strong communication skills

6. The retail concept is widely attractive to a wide variety of Landlords and

NYC residents and readily welcomed by Community Boards

B. Exclusive Right To Lease Agreement 15 minutes

1. Highly preferable to have agreement in place

2. Ensures that you will be paid if transaction ocurrs during the term of your

agreement

3. can readily share identity of tenant with other brokers and with Landlords

4. Sample of Exclusive Right TO Lease Agreement

C. Determining Tenant’s Needs and Requirements 30 minutes

1. Size Requirements – Ground Floor, Basement, other floors

2. Outdoor seating requirements (if needed)

3. Frontage Requirements

4. Mechanical Requirements – Electrical, Plumbing Ventings, HVAC

5. Landlord Work Requirements

6. Build Out requirements

7. Capitalization Requirements

8. Target rent requirements

9. Possession date requirements

D. Analysis of Ideal Site Requirements 30 minutes

1. Demographic Analysis – who is the target customer?

2. Gross Revenue targets

3. Competitive Analysis by Neighborhood

4. Evaluation of Value Proposition vis-à-vis competitive landscape

E Methods for Obtaining Site Listings 45 minutes

1. “Boots on the Ground” – walking and/or driving through each of the target

neighborhoods

2. Email blast Flyer to 2000 brokers with site requirements (show sample)

3. Receive email flyers from other brokers

4. Review Broker Web sites

5. Search Costar, RetailMLS, Agorafy, Loopnet, CityFeet, NY Times

6. Contact Leading Building Owners in target neighborhoods

Aaron Gavios Retail Leasing. Tenant Representation.

7. Review expiring leases

F Creating Tenant Marketing Book – show examples 30 minutes

1. Store concept

2. Pictures of existing stores

3. Product list

4. Price list

5. Target customers

6. Floor Plans

7. Store renderings

8. Financials

9. Build out costs

10.Book is used as a marketing tool to be given to Brokers and Landlords

G. Drafting the Offer to Lease 15 minutes

1. Draft for Client to review and edit

2. Note that there may be additional rounds of negotation

3. rent should be within 10% of market rent

H. Term Sheet 15 minutes

1. Non-binding Term sheet for Landlord and Tenant to sign; this used

as the basis for drafting a binding lease

2. Term Sheet is not legally binding but psychologically binding – negotiating

in bad faith” if you alter term

I. Lease Negotiations 15 minutes

1. Stay active in all stages of lease negotiations between attorneys

2. Read all versions of lease to ensure compliance with Term Sheet

3. Review actual lease example.

J. Strategies for Acquiring Exclusive Clients (Tenants) 15 minutes



Aaron Gavios, Co-Chairman and General Partner of Square Foot Realty, has been instrumental in establishing the brokerage firm as the leading retail leasing Broker in Hell’s Kitchen. He has been instrumental in running a number of online and off-line marketing efforts which have resulted in establishing the firm as a well known brand in the New York marketplace in just a few short years. Mr. Gavios has worked to secure locations for retailers and restaurants including Ippudo, L’Artisan Parfumeur, Sushi of Gari, Cooper's Craft and Kitchen, Good Stuff Diner, Cold Stone Creamery, Westville Restaurant, Ardesia Wine Bar and a host of many others. Along with Mr. Aaron, he oversees relationships with several key Owners including Archstone Smith, Dermot, Stonehenge Partners, Stellar Management, Clinton Housing Development Corporation and others. Prior to joining Square Foot Realty, Mr. Gavios held key senior executive positions at several technology firms including Nintendo of America, Casio, Rolodex, DSTV, MondoSoft, and X3D in which he was involved in marketing and sales on an international level. Aaron holds an MBA in Marketing and International Business from NYU Stern School of Business Administration, and a Bachelor’s Degree from Brandeis University.
 
Mr. Gavios has also served as an Expert Witness in Tenant/Landlord cases. He has been an INstructor for NYREI since March, 2014.
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