I formed Makens Consulting in the Fall of 2007 after being with a larger brokerage firm in the Dallas/Ft. Worth area for nine years. During my time there, I learned a tremendous amount of knowledge about the retail real estate industry and the numerous components that make it function. One of those areas that immediately captured my attention was the role of tenant representation.
Over the course of my eleven year tenure in the business, I have been involved in hundreds of transactions representing retailers, and if there is any one constant I have learned it is ‘to LISTEN to the retailer’s needs’. This quote is often spoken and to some extent becomes cliché; however, it amazes me how often it is forgotten. Too many times a tenant ‘rep’ becomes preoccupied with other motives and thus the disconnect begins.
I believe this is where we set ourselves apart from the competition, and our clients will attest to the same. We have integrated our services to truly be a third party extension of the retailer’s real estate decision making process, and our approach is very ‘hands on’. Whether it is in evaluating market penetration, demographic analysis, sales comparisons/occupancy costs, or the best real estate opportunities; the key is to get and stay involved early with the client so that he is fully informed when it is time to make those critical decisions.
Francesca’s Collections, a client of ours, is a prime example. For over six years, I functioned as the real estate department for the blossoming apparel boutique and helped oversee its growth from 4 stores to well over 100 nationwide and still counting. Having done this I understand the challenges that face a retailer when it comes to market strategy, pro forma development, construction timelines, and the overall presentation one must make to his committee when deciding on real estate.
Today’s environment has proven to be especially daunting for retailers and the need for an experienced partner even that much more crucial. I am confident we can assist your company and look forward to learning more about your business. Please do not hesitate to contact us at paul@makensconsulting.com or call 214-354-6348.
Paul Makens
Principal
Makens Consulting LLC |
