Retail Development Services Available
Vector Interactive Group is proud to announce a new division of the company that focuses on site development consulting and along with offering our clients what is referred to is our Direct Connect Marketing Program designed specifically for retail development projects.
Retail development can be complicated and very expensive if you are not familiar with all whole process. Whether, you are a property owner interested in developing your commercial property or a national, regional [franchisee] or local company planning to expand in Northeast Florida, Vector has the resources available to make your project successful.
Our Three Phase Process:
Phase I – First Look
- Property Owners - our consulting team must first complete an exam of your property. We always like to first review a boundary survey to begin the process and see the exact dimensions of the property. We also need to verify exist zoning and land-use classifications regarding the current allowable uses of your property governed by your local County. We must be informed if there is clean equitable title, how many owners are involved and that no liens and or judgments are affecting the property. Once we have determined that your property would qualify under our Direct Connect Program, a formal service agreement would be prepared outlining the marketing scope-of work items along with a budget including the due diligence items and cost that may be needed and included in the site marketing package prepared by Vector.
- Companies - our consulting team first needs to understand your business operations and audience classification that your business is looking to attract. Also, we would like to discuss any particular trade areas your business may have in mind before starting the site identification process. We must understand your site criteria and general site layout if applicable so we are well informed as to what site location will best fit your building and parking needs the best.
Phase II – Research & Identification
- Property Owners – once your property has qualified under our Direct Connect Program and you have agreed and signed our service agreement we will begin creating your customized marketing package and coordinate any of the due diligence items that may be applicable.
- Companies – once we understand your company’s site criteria needs, we will begin the site identification process and upon submitting a site for your company’s review the following will be provided:
- Demographic study within 1mi, 3mi, & 5mi radius of trade area
- Traffic count data according to FDOT AADT reports
- Boundary survey or tax plat showing site dimensions / setbacks
- Preliminary site plan if applicable
- Competition analysis within 1mi & 3mi radius of trade area
- Zoning and land-use classification (Rezoning may be required)
- Wetlands identification that may affect the property (Mitigation may be required)
- Access verification from either the County or State transportation department
Phase III – Contract & Approval Stage
Property Owners – our marketing acquisition team will assist you in coordinating direct lease or purchase contract negotiation meeting(s) with prospect tenants or buyers interested in your property. Vector does not participate in representing you as a broker or as a real estate agent. However, our consulting team may advise you on what lease structure(s) or purchase price(s) may be of fair market consideration given that you fully understand that the final decision is up to you on what is best.
Companies – given all items in Phase II have been satisfied, and the company would like to move forward and submit a LOI to the seller, Vector will assign all broker responsibilities to thereafter, represent the company as their “Buyer’s Agent” to OneCore Commercial Real Estate. Vector may assist the tenant or buyer under a developer fee agreement and therefore coordinate all the pre-development items for governmental permit approvals, site work, and design / build services to be performed. Vector may assist in project management services regarding build-to-suits and financing depending on the scope-of-work to be completed. Having strong local vendor relationships helps speeds the process along.