If you’re a retail operator, there are seven critical ways to optimize your lease portfolio. By keeping these issues top-of-mind, you’ll have time to strategically plan for changes, take advantage of time-sensitive opportunities, and even cut your losses when the time is right.
- Continually focus on all leases expiring within the next 36 months.
Most business owners and real estate executives are so focused on “fighting fires” that they rarely have time to think about lease expirations beyond the current year. However, by keeping expirations occurring within the next 36 months on your radar, you’ll have time to make sound decisions and necessary adjustments. Remember, each lease can take months to renegotiate, so if you wait too long, you may be out of runway.