G-Force was engaged by an owner of a prominent community shopping centre on Vancouver Island to identify and assess options to re-lease a large block of space that its anchor tenant was vacating. G-Force applied its extensive knowledge of retailing and changes in the market for retailers and their use of space in order to stabilize and enhance the value of the shopping centre and find the most suitable replacement tenant(s). G-Force first undertook market research and analysis of the community’s retail market, and met confidentially with local government officials for their input, including on increasing the gross leasable area (GLA) of the shopping centre. G-Force then identified, analyzed and evaluated several options to reposition, remerchandise or re-demise the vacant space.
The objective was to increase the GLA by developing some of the unimproved shopping centre land for different categories of retailers, ranging from small local specialty to national big-box retailers. G-Force also provided the Client a prioritized list of potential retailers in each retail category to approach. The Client has successfully leased the space to new anchor tenant.
