BY Joey Valenti
For over two decades, I’ve represented retailers and restaurants in Nashville and Middle Tennessee. While each company is unique, when we go from big picture (the markets tenants consider) to boots-on-the-ground (how tenants respond), it’s easy to put together a great list of things we as brokers can and should do to represent our clients well.
Tenant Reactions to Tennessee
When we explore the kinds of markets a tenant considers, there are three primary classifications we apply:
Nashville and Middle Tennessee are patience markets, characterized by low vacancy rates and scarcity of new product, and we see tenants are reacting in some pretty interesting ways.
What a Broker Can Do
Brokers are in a unique position of influence to accurately set expectations for their tenants who are exploring tight markets. When all is well and deals are progressing easily within a market, this isn’t as necessary and falls out of normalized practice. In a patience market, however, it is critical.
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