Meeting with the head of real estate for a big national brand (Need Help!!!)
So my managing broker arranged for me to meet with a the director of real estate of a big box national tenant to learn more in terms of site selection for a retailer viewpoint. I'm grateful for the experience but also nervous, does anyone have any suggestions on what to ask and also how to pitch a 150k vacant retail space to pitch at the same time.
[{"id": "hixatss", "text": "Don\u2019t be nervous over anyone that works for a salary. You\u2019ll be fine. Pitch it. If it doesn\u2019t work out, you\u2019ll learn why and get a good lesson from it that will help you later.", "replies": [{"id": "hixgb9n", "text": "Yeah your right, but being such a big tenant and someone with a high title it\u2019s not hard to get overwhelmed with feeling the pressure", "replies": [{"id": "hixnwwk", "text": "I've worked with real estate executives from 7-Eleven, Under Armor, Nike, West Elm and more than I care to mention.  They're all normal people.  Many of them I've gone drinking and smoking cigars with.\n\nSince you're new be professional.  Ask questions.  Don't act like you know more than you do.  Instead, inquire.", "replies": [{"id": "hixuh8u", "text": "Embers, I\u2019d love it if you could help me get a contact for 7-Eleven LOL. \n\nBeen trying to see if any of the properties I\u2019m after are potentially available! (Need them to go away)\n\nEdit: FYI, I have called and emailed corporate a million times.", "replies": [], "depth": 4}, {"id": "hj0m9lz", "text": "Agree 100%. Normal people. Even some of the principals at giant funds I\u2019ve worked with are just totally normal people except they have a spending limit that far surpasses mine. I\u2019ve worked with a handful of centimillionares. I can tell you, and they\u2019d probably agree, that they\u2019re no smarter than you or anyone else. Just willing to work, take risks and be an expert at what they do. Don\u2019t be intimidated at all make it a favorite part of your job. Once you start bringing people like this into your circle, you\u2019ll become one of them in no time. Keep in mind - They need you as much as you need them. Focus on becoming a resource for them!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hixnlku", "text": "Discuss what their site criteria is and their economic plans in your area.  Done.", "replies": [{"id": "hixua43", "text": "This is the correct answer. \n\nAlso, LISTEN. Ask your question and listen.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hixxezj", "text": "fwiw: you have to take a data-driven approach to the matter. As a national firm, they dont want to hear about your experience or what you \"think\". Pitch them on data-driven site selection, whereas foot traffic and POIs enables you to find optimal sites for them. I suggest not pitching yourself and a retail location at the same time, sounds like too much. good luck!", "replies": [], "depth": 1}, {"id": "hjmpkul", "text": "Make sure you know each and every single store they have within 250 miles of your office.  Know the name of the road, the cotenancy, its exact location and proximity to other major retail, location of competitors, how old the store may be, it\u2019s visibility, parking and pylon situations.   I landed an enormous account like this one, because I knew the pylon sign for some random store the guy totally randomly mentioned in our first meeting was visible from Highway X, but NOT Highway Y, which was the better busier Highway.  Interviewer was very impressed that i even knew, or paid any attention to that level of detail.   I got the account and I did more than 9 new stores with them.", "replies": [{"id": "hjmpm03", "text": "200 miles is 321.87 km", "replies": [], "depth": 2}], "depth": 1}]