Featured Member Benefit: Store leasing with ESR Commercial
When Red Rock decided to relocate one store, ESR helped find and negotiate a new lease at a center with a much higher traffic rate than the store’s previous location. Last year, ESR helped find a brand new location when Red Rock expanded from two to three stores. Since that date, ESR helped the company renegotiate a lease at an existing store location, which helped it take over an adjacent suite to expand store space.
“I couldn't imagine negotiating a lease without ESR. They receive my highest possible recommendation. If you're looking for a lease, this is the team you want,” said Red Rock Running Company Owner and CEO Mark Jimenez.
ESR is the father and son team of Rich Aries and Garrett Aries, national brokers who work strictly with businesses to negotiate leases at commercial properties. With Rich based in California and Garrett in New York, the team has more than 35 years of experience and is knowledgeable about properties and markets across the nation.
“We are never a landlord representative. We have a very specialized niche: we work solely for the tenant’s benefit,” Garrett explained.
ESR has a wide range of clients in the retail sector from mom and pop stores to franchises, as well as other trade associations in the hobby and craft industry.
“We love being involved with the Running Industry Association and want to get more involved as partners,” he said. “You’re not going to see us running marathons (due to bad knees), but we love running shoes. Because of our involvement with the RIA, we now know more about running products.”
RIA members and all of ESR’s clients receive their negotiating and consulting services for free. The company gets paid a percentage of the negotiated lease by listing brokers when the contracts are completed.
“The building owners contract with brokers to lease the spaces, and we call those brokers when we have a client interested in a space. Then, we help negotiate the deal, and the broker splits the fee paid by the landlord. Our clients don’t have to pay extra,” Garrett said.
He estimates that 80% of ESR’s work is answering client questions, advising and reviewing and providing guidance on contracts and other documents. All of that assistance is provided free, and only when leases are negotiated and signed does ESR get paid by the leasing broker.
“We are truly here to help – no tricks and no games. We are the real deal, providing a free service in our clients’ best interest. We want them to say good things about us because all of our business is by referrals. It’s good business and has always worked for us,” he added.
Satisfied client Mark Jimenez is proof of that business model’ success.
“They walked us through the leasing process step by step, helping us understand what was coming,” he recalled. “Rich and Garrett are patient and knowledgeable. They don't judge me for asking questions; in fact they encourage it. They also fight on my behalf so that I don't have to be the one fighting.”
Every retailer should have experienced representation when negotiating leases, Garrett advised.
Jimenez agreed wholeheartedly: “The peace of mind that comes with getting a broker involved is priceless. I strongly recommend going with ESR and letting them go to bat for you. They'll give you their honest opinion on the center and if they think it will work, and they'll do a great job!”
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