Site Selection

Choosing your next store location is a big task. Don't leave it to a company that sees you as just another number. RECAP is a hands-on partner, walking you through the good, the bad and the ugly of real estate—all without you having to break a sweat. We get to know your business goals and site requirements, making recommendations that will set you up for success. The difference isn't only in the way we treat our clients, it's in the way we operate internally as well. Through collaboration, our experts come together, across several business lines and office locations, bringing their expertise to one place to help you achieve your goals.

Site selection is a critical aspect of leasing and tenant representation in real estate. It involves identifying and securing the most suitable location for a business to operate. Here are the steps and strategies involved in the site selection process:

1. Define Requirements: Understand the client's specific needs and requirements. This includes factors such as location preferences, target market demographics, space size, budget, zoning requirements, access to transportation, visibility, and proximity to competitors or complementary businesses.

2. Conduct Market Research: Analyze the local market to identify potential locations that align with the client's requirements. This involves evaluating demographic data, market trends, competition, economic indicators, and growth projections in different areas.

3. Site Identification: Use the gathered information to shortlist potential sites that meet the client's criteria. Consider factors like foot traffic, accessibility, parking availability, nearby amenities, and any specific zoning regulations that might impact the business.

4. Site Visits and Evaluation: Visit the selected sites to conduct a detailed evaluation. Assess the physical condition of the property, infrastructure, visibility, proximity to major roads, neighboring businesses, and any potential drawbacks or advantages of each location.

5. Financial Analysis: Perform a financial analysis to compare the costs associated with each potential site, including lease rates, operating expenses, taxes, renovation or customization costs, and any incentives or concessions offered by landlords.

6. Negotiation and Due Diligence: Engage in negotiations with landlords or property owners for favorable lease terms, incentives, and other concessions. Perform due diligence by reviewing lease agreements, understanding restrictions, and ensuring compliance with local regulations.

7. Decision Making: Present the findings and recommendations to the client based on the analysis conducted. Consider all aspects—financial, operational, and strategic—before making a final decision.