Do management companies share mall performance indicators with tenants?
Our company is considering leasing a retail space in a large regional shopping center managed by a major operator (Simon, Westfield, etc.) and some questions came up.

\- Do these companies generally require tenants to disclose sales data to management?

\- Do the management companies regularly share or disclose any figures to tenants (E.g. total foot traffic, monthly sales)?

Not sure if this is off base for this sub, but any info would help.
[{"id": "evdl32z", "text": "Sometimes operators need tenants to disclose the numbers because the lease is based on a percentage rent (the lease is based on a percentage over a specified amount). \n\nIt would not be normal to disclose those numbers to a third party. It should be specified in the lease that it should not be discussed with other parties.", "replies": [], "depth": 1}, {"id": "evdlhc2", "text": "Landlord's requiring prospective tenants to disclose sales is pretty common. They use it as a marketing tool to get future tenants interested in the shopping center. They are usually disclosed (over the phone) in estimates to the brokers of the prospective tenants in round annualized numbers. Some national tenants will not disclose sales to Landlords. Unless you are a national tenant with a lot of bargaining power, you are most likely going to have to disclose some sales figures.", "replies": [], "depth": 1}, {"id": "evdodyz", "text": "If is ok and customary for you to ask what the average sales per square foot is in that mall.  I'm assuming you are talking about an enclosed mall.  Ask them to break it down for you by: sales psf for\n1. Food\n2. Soft foods\n3. Hard goods\n4. Non department store sales \n\nBe extremely careful of where you are in the mall.  Who you are next to.  Cross traffic, etc.\n\nWhat is the category of your business?", "replies": [{"id": "evga4e8", "text": "Thanks for the insight.\n\nWe're a restaurant company.  Our concept could be best described as \"Fast Casual\" with a check average per guest of about $10\\~$12 depending on location.\n\nThe location is promising because it's near a movie theater and has high foot traffic.  We are just concerned that this particular mall may be showing some decline in traffic due to general trend away from RSCs in favor of lifestyle centers and other formats.", "replies": [], "depth": 2}], "depth": 1}, {"id": "evem1ze", "text": "Yes they do. Retailers want to be around other high sales stores. Also, most malls and shopping centers require tenants to report sales monthly so the information is readily available. (Source: I used to work as a retail asset manager for a major operator)", "replies": [{"id": "evgan2g", "text": "Do the shopping centers share aggregate information with tenants on a regular basis?\n\nWe want to be able to compare our location's performance to the overall performance of the mall on a quarterly basis.", "replies": [{"id": "evhznbl", "text": "That would be something you might need to negotiate or sign a CA for. They might share that with you. \n\nIf word got out that sales at their mall are plunging nobody would want to lease space there. Especially when anchor tenants are struggling.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "evg2oj4", "text": "Yes my firm requires monthly reporting for sales due to breakpoints in leases for percentage rent", "replies": [], "depth": 1}]