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Retail real estate is changing faster than ever, just keeping up can be half the battle. The other half is being able to track these changes and make informed decisions in the market.

Think of this analogy that I’m sure you’ve all heard before: you’re on the latest diet trend and you go to the grocery store hungry. Chances are you’re leaving with more chips than veggies. Give your brain a fighting chance against the snacks.

Here’s the trick…Fill up before you go, and it will help you make better decisions!

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The same goes for gaining a competitive advantage in real estate. Fill up! Fill up on the industry research and competitor analysis to make an informed, data-driven decision and avoid the “I’m starving let’s try this,” or this looks ok let’s try this” decisions.

This is where Planned Grocery comes in.

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With over 200 Grocery Retailers actively being tracked, the data can be used by all sectors of retail real estate.

Now that we covered the basics, let’s discuss the 4 use cases YOU can master by tracking grocery store developments.

  1. Acquisitions of Residential & Multi-Family Units
    • Multi-Family units received 5.1% higher rents when located near a newly opened grocery store and 23.4% higher rents near a grocery store within a mixed-use development. This can be important when building or buying new multi-family units near planned grocery stores. Also, once the grocery opens the market will support higher rents due to the grocery amenity nearby.
  2. Due Diligence for Acquisitions of Grocery-Anchored Centers
    • REIT/Shopping Center owners sometimes have the lease on the grocery store dependent on the stores sales. Also, the draw that grocery has brings more customers in your center which allows higher rent. If a grocer competitor is opening nearby, you want to ensure you have that data before you make this acquisition.
  3. Non-Grocery Retail Site Selection
    • Shopping habits have changed and people value saving on time, convenience, and experience above all. Most non-grocery retailers are starting to leverage this type of consumer by positioning near high-trafficked grocers. This is helping exploit this new “convenient behavior.”
  4. Grocery Retailers
    • Grocers always need to track their competition. If a new site is planned to go next door, you have some questions you need to start answering ASAP.
      1. Do you want to stay in this area and compete? If so, start new loyalty programs and coupons that would directly compete with this new grocer.
      2. Think about current merchandising and price points, including store renovations.
    • If the grocer is already having a difficult time in the area, start researching current lease and terms and have an exit strategy if the potential site is approved.

A lot of this research can be time consuming and tedious. These are decisions that need to be made in a timely manner. But fear not! Let TAS & Planned Grocery do the work for you!

For even more info on how you can use Planned Grocery in TAS, check out our webinar.