Throughout a retail company’s life span, it experiences many shifts in its real estate portfolio. Significant changes in a retailer’s portfolio can be a result of shifts in trade areas, a change in location strategy, an emphasis on a new concept, a need to grow or shrink the size of an existing concept, or a merger or acquisition. Any of these situations demands that the retailer respond quickly with a detailed plan of action to market and dispose of large numbers of sites. Retailers must have access to a large pool of potential users and buyers and the ability to create and deploy effective marketing materials in order to divest of properties in bulk or as single units.
SRS supports clients that have larger portfolios of dispersed surplus properties by eliminating portfolio lease obligations through subleases and terminations and eliminating owned properties through sales. SRS deploys a single point-of-contact and a multi-channel portfolio disposition strategy that delivers quick results and significantly reduces balance sheet carrying costs.
SRS starts each assignment with a single point of contact and core team of dedicated disposition transaction managers to identify best in class local brokers in each market. Local brokers along with the project team perform in-depth valuations and devise a unique strategy for each location assigned.
SRS implements a three-pronged marketing strategy for the entire portfolio. The first is standard marketing at the local level. The next is to focus on individual retailers who may have an interest in several locations within the portfolio on a bulk basis. The third is to create opportunities to sell leasehold interests or owned properties to investors as a financial transaction.
SRS has disposed of more than $5.8 billion in real estate obligations for our portfolio disposition clients. Since 2000, SRS has disposed of more than 1,200 locations and saved $575 million in future carrying costs for a single client.