✨ Welcome to a four part series we’re calling “What makes Pedal so unique and effective in the retail real estate industry.” Otherwise known as “Why we need our own TV show pronto.” ✨
Today we’re discussing point #2:
We know Pedal Retailers’ businesses inside and out.
When I started to draft this newsletter I went to Father Internet because I knew there was some quote about proximity and familiarity. Lo and behold, the first page of search results gave me just what I needed:
“Proximity bred familiarity, and familiarity bred comfort.” ― Nicholas Sparks, The Lucky One
Now first of all, I very much do not like Nicholas Sparks
...✨ Welcome to a four part series we’re calling “What makes Pedal so unique and effective in the retail real estate industry.” Otherwise known as “Why we need our own TV show pronto.” ✨
Today we’re discussing point #1:
Our business model is not reliant on lease commissions or equity in our clients’ businesses.
Have you ever spent 23 minutes trying to get the attention of a bartender on a busy Saturday night at a nightclub? Have you stood on your tip toes and tried waving cash? Have you wondered if maybe they don’t see you because you’re only five feet tall, or because you’ve never been able to dress cool like you’re at a club in your 20s even when you’re clearly at a club in your 20s
...We’re going to try something different. Most weeks, we write about retailing, real estate concepts, processes, clients and cardinal rules…and I don’t think we’ve ever really made Pedal the center of the story.
Today and for the next few weeks, we’re taking center stage. Which, you may not be surprised to hear, is a perfectly happy place for us seeing as Abby honed her stage skills over many summers at theater camp, and Sheila won the top prize for her persuasive senior speech in 1999. Netflix! Call us!
Anyhow, here’s why we’re going to talk about us.
Pedal is the only commercial real estate brokerage that focuses on independent and start-up retailers. Seriously, Google it, ...
Remember the “I was today years old when I learned…” moment on TikTok where we all learned a lot of trivia like Australia is wider than the moon? Or the IRL moment when Sheila (at 35) finally figured out that Free Slurpee Day is always on July 11th (get it? 7/11!)
Today, we have one for you: big retailers are able to thrive in commercial real estate (when mom-and-pops struggle) because… retail real estate is actually a core business function for these larger companies.
Think about it -- if you’re Starbucks, your real estate is not something you have to deal with periodically… it’s an everyday thing. You’re constantly opening stores, closing stores, renewing leases, making modif...
Sometimes, it feels like I specialize in mind games. I try my best not to play them with my partner (Dio, if you’re reading this, that’s definitely NOT what’s happening when I stop doing the laundry at the same time as I’m trying to win a multi-day argument), and yet, as a broker, interpreting the subtext on the other side of the negotiating table is a big part of my job advising Pedal Retailers.
If you’ve signed a retail deal, you know what I mean - and the worst of it is when the other side goes quiet, which happens all. the. time. If you’ve never signed a retail deal, you might assume that going quiet may as well be killing a deal - and you’d be wrong. Over the course of negotiating an...
If you've ever called the number on a "For Lease" sign, we're guessing the conversation you had was pretty confusing.
Maybe it went a little something like this...
You: "Hi, I was calling to get some information on the store I saw on Main Street that's empty, next to the flower shop?"
Mystery broker (let's call him "Kevin"): "OK?"
You: "Um, yeah, well, is it available?"
Kevin: "Yeah."
You: "Uhh, OK, how much is the rent?"
Kevin: "It's $40 a foot."
You: "Oh, OK...how much is it per month?"
Kevin: "Well, it's $40 a foot plus triple nets and it's about 2,000 square feet. Can you send me your business plan?"
You: "Wait - I'm not even sure if I'm interested, I don't understand how much ...
