Early Extension on Dollar General or Dollar Tree Strategy(ies)?
I own three multi-tenant strip centers with dollar store anchors. In two, I was fortunate that the anchors had/have plenty of term. The third is also a value-add play but Dollar Tree has 2.5 years remaining on their lease. I'd like to extend their lease out to at least 5 years. I'm aware of groups successfully extending leases and I assume there's some blend &amp; extend, abatement, rent reduction or capital improvement (or something) as inducements. However, my experience with communicating with Dollar Tree has been... let's say... abysmally corporate. I haven't come close to even sniffing the right person or a hint at how people are doing this. 

So, a couple questions...

1) Who are people having success connecting with within Dollar Tree (and DG) whether that be an actual person or a role to work on something like an extension?

2) Does anyone have visibility into successful extensions and, if so, what do those look like? What motivates both of these groups to add term?

3) I plan to buy more of these in the future. Most of these stores don't report store sales. Is there a rule of thumb or some other way to understand the performance of a specific location and how DG or DT feels about that store? i.e. Buy a center that has a dollar store with 2 years remaining. I'd like to know if they plan to close it, obviously. 

4) I've built a list of tenants that appear to co-tenant with Dollar stores and plan to target those for lease-up. Ages ago there used to be a spreadsheet that ICSC distributed that had most national and regional retailers and their expansion plans for that year with detail around the requirements (traffics counts, demos, etc). Does that still exist? or something similar? If not, how are people tracking down the right person for expansion details for various tenants. 

Appreciate any help here!
[{"id": "j09urgq", "text": "Good questions, totally not my alley and not in my arena. I work with different industries all together but curious about all of the above!", "replies": [], "depth": 1}, {"id": "j0a3jjg", "text": "Have you tried to see if they use a brokerage?", "replies": [{"id": "j0a5pov", "text": "I have not but stumbled across this digging around -https://corporate.dollartree.com/vendor-real-estate-partners/real-estate-partners", "replies": [{"id": "j0caj7o", "text": "I would start there and then also re-read your leases and other documentation to see if there is any reference to a broker that may have worked on the original deal.", "replies": [{"id": "j0cejve", "text": "Yeah, appreciate that. I just checked the lease for brokers and don't see any reference. Do they typically use external brokers to handle the tenant rep renegotiations here? Also, I used the contacts they provided as corporate contacts when I bought the centers and zilch.", "replies": [{"id": "j0cjcal", "text": "I\u2019m not sure where \u201chere\u201d is, but it\u2019s not uncommon for large companies to use local knowledgeable reps as a front line for lease negotiations. The contacts you see in the lease are probably more for legal notices.", "replies": [{"id": "j0e691l", "text": "Ah, appreciate it! \n\n&amp;#x200B;\n\n(just meant 'here'... as in, this situation)", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "j0bde7u", "text": "Ate Dollar General and Dollar Tree/Family Dollar typically good investments in real estate?  Are there know instances of them breaking contracts?", "replies": [], "depth": 1}, {"id": "j0drfdh", "text": "There are some software tools that you can use to address *portions* of what you're asking. But the only tool so far that attacks almost all of it is [**AlphaMap**](https://alphamap.com). The aspects relevant to you:  \n\n\n1. **Tenant-Finder:**  Their tenant finder feature has already mapped out all the brands in the US, the demographics they target, their co-tenant / nearby-tenant patterns, etc. Based on that, they recommend Tenants that would be a strong fit for your property.  There are a couple other tools out there that do a form of \"Void Analysis\" and provide recommendations; but AlphaMap's recommendation algorithm is certainly the best out of everything I've tried.\n2. **Relevant Contact Info:** They have a lot of contact info for retail brands so it makes that part of the process a lot easier.  I just checked if they have \"Dollar Tree\" and they do.  It has approximately 20 contacts for them including people related to \"Real Estate\".  It includes LinkedIn profiles, phone number, and emails for them.  Oh, I also see some \"brokerage\" related contacts as well.\n3. **Mobility Data (as a measure of performance):**  They provide mobility data from multiple providers.  Mobility Data is essentially just location data pulled from everyone's smartphones across the country (e.g. if you have any apps on your phone with location services turned on, then that data would be used anonymously for something like this).  They use this mobility data as a way to estimate performance. It even gives you a percentile rank of the location within the brand (metro, state, and national levels).  This is a proxy for store performance, because as you already mentioned -- you can't get revenue numbers.  They also provide you charts on the location with data going back nearly 4 years -- so you can check the \"trend\" of visits to the location.  E.g. If it's trending down and it's also poorly ranked, that's a sign they might not renew.  But, if they're performing well, you can go in with some confidence.  BEFORE you decide on a strategy, I would learn what you can about them through methods like this -- because it can affect your approach.  Often you might have a successful location and you won't necessarily know it.  If you do though, you wouldn't want to go in with all sorts of enticements.  If they're weak though, then it makes sense. \n\nLastly, I know what you're talking about with ICSC's list. I actually just checked their database a few days ago (I was at their New York Trade Show last week).  Unfortunately, there are no great databases with the details you're hoping for.  I know that's the direction AlphaMap is headed, and as of now it's the best I've seen/found -- good guys, give them a shout.", "replies": [{"id": "j0e6by5", "text": "Killer.. I'll definitely check them out. The mobility data is exactly what I was hoping for with a proxy. Do you have a sense on what they charge?", "replies": [{"id": "j0hcxib", "text": "It's an annual subscription, but the exact price can vary quite a bit I believe (based on various factors).  I know some large companies paying over $100k annually.  The lowest I've heard is around $4500 (it was a one-man brokerage).  I'm guessing you might be around $10k annually -- but that's truly just a guess.  I'm paying a little more than that.  If you do get a quote, I'd be curious to hear what it ended up being if you don't mind posting here.", "replies": [{"id": "j0w8fiu", "text": "Just demoed it today and pretty impressive for what I need it for. $4,500 with a 15% total discount for a two year deal all paid up front.", "replies": [{"id": "j152hoq", "text": "wow, nice.  Next time i'll need you to negotiate for me lol.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "j0vsu0p", "text": "Another option for mobility data is [Placer.ai](https://Placer.ai), let me know if you want to see more from them.", "replies": [{"id": "j0w88c6", "text": "Yeah, I'd enjoy checking them out too. Just had a demo with Alphamaps today", "replies": [{"id": "j0wdpvx", "text": "Feel free to schedule a product demo with me.", "replies": [{"id": "j154wyw", "text": "Yikes. I probably should have read this comment before I wrote mine above.  Didn't realize you did sales for Placer.  Definitely didn't mean to insult Placer or anything -- thats still a good tool for some people and use cases.  I just preferred AlphaMap thats all.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}, {"id": "j154jq8", "text": "Yeah, I used to use Placer before I started using AlphaMap. Mostly because I heard of Placer first. But overall I like AlphaMap more for two main reasons:   \n\n\n1) For mobility data, AlphaMap actually uses multiple of the top competing providers and literally shows you their results. So it's like a 3 in 1 type thing. And I've noticed that the different mobility companies often have widely varying results on a particular location.  So, I basically only lean on the mobility results when ALL the suppliers are somewhat aligned.    \n\n\n2) AlphaMap's tenant recommendations are a lot better (with contact info).    \n\n\n  \n**OTHER TOOLS**  \nThere are other tools that have mobility data in some fashion as well if you'd like to check them out: \n\nAdvan  \nAlphaMap (the one i recommended)  \nUnacast  \nNear  \nBuxton  \nSafegraph  \nPlacer (already listed)  \nSitesUSA  \n\n\nAlphaMap already includes 3 of those other providers in the tool already (so you wouldn't need them). And some are more geared towards data scientists/power-users....or firms that have in-house teams for data analysis.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]