NEW TENANT LEASING

The size of ZELL’s management and leasing portfolio provides us with an excellent opportunity to determine which tenants and types of businesses are expanding.

The following is a description of some of the marketing efforts that will be made to lease space in the Shopping Center:

A.      Install a double-faced leasing sign along each street frontage and in window of any vacant space. Install a leasing banner as needed.

B.      Determine target retail, service and other commercial tenants, mail or email information to prospects to be followed up by telephone calls.

C.      In person calls to businesses located in the area or to centers with similar demographics.

D.      Contact other retail leasing firms to advise them of the availability of space.

E.      Make telephone solicitations to retailers and brokers.

F.      Create a full color leasing brochure with information about, and photographs of the Property. Provide electronic marketing platform – interactive brochure, video marketing of the Property and posting of the Property’s availability on ZELL’s website, LoopNet, CoStar, Xceligent and CCIM websites. Broadcast emails with property brochures frequently sent to approximately 350 retail leasing agents in the Greater Phoenix area.

G.      Attend various International Council of Shopping Centers sponsored events to expose the available spaces.

H.      Assist in qualifying tenants by obtaining financial statements and credit reports, speak to credit references and look at existing locations, if applicable.

I.      Prepare lease documentation, when appropriate, either utilizing ZELL’s standard retail lease or form provided by property owner.

J.      Work closely with the property manager to (1) help determine market rates and terms for renewing tenants, and (2) determine if an existing tenant is struggling or not extending the term of its lease, to start aggressively marketing the space before a vacancy occurs.