Sourcing

Sourcing

SOP – Sourcing – What we do and % Time spent on each piece…..

Our primary role is Sourcing, finding a Fit for Developer and Tenant. This role occupies 75% of our time and those Clients who don’t want us involved in the final negotiation are determined ,,, we have, at this point, done our job and anything past the Intro point is secondary. We are compensated appropriately for our primary role and make the distinction between Sourcing and Negotiating .

Same process for all opportunities, which most are Passes but the few with interest may lead to a real deal as happened with xyz project and to next step – LOI / Lease.

All this is done, prior to Connecting parties – Developer / Tenant, in our own CPS vacuum without your knowledge, working for you 24/7 behind the scenes, unbeknownst.

“Working with David Postle has been a wonderful experience for our organization; David’s attention to detail and thoroughness along with an awareness to speed in our transactions together has been nothing less than ideal”. 

Barry Lustig

Executive Vice President , Ashkenazy Acquisition’s

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Source our ‘relationships’

 (10,000 developers and brokers / 1000 projects) “What We Do’  (below) … 65%

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Discover a Potential Fit

 We Assess and assemble a Packag…10%. 75% of our work is done behind the scenes!

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Marketing Package Info

Send Marketing Package to Tenant – who is to this point  invisible !

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Introduction

with tenant interest, I divulge my Client and connect the two parties………… 5%

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Representation

I ‘now’ represent the tenant for this project  and this only  

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Initial Terms Discussion

Takeover process – some clients like to takeover from here… 5%

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Refine

 Refine the negotiation, parameters for the deal… LOI … 10%

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Final negotiations

 5%

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Lease – Lawyers

 1%

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Open / Attend

1%

CPS – Nature of our business…

SOP – Sourcing – What we do 

I was queried on the exact nature of our role and from that I think many people are unaware of what we do and hence don’t fully appreciate what we do…… for them. There are 10,000 developers and 25,000 brokers. Most have a broad array of clients and business types, small to large – from nail salon to fashion to grocery to big box. Our goal is to corral all those interests of developers and brokers into our one little niche – Theatres as ‘dedicated’ theatre broker. One Client / one Goal!

Our work is done prior to connecting Developer and Client (tenant) per enclosure. We are constantly Sourcing new deals / developers and the continually follow up with of the hundreds of our existing Developers to find a deal for you and more importantly the right Fit.

As a reminder of what we do. Our job is to find you a deal. We source the CRE commercial real estate community to find you a deal that meets your criteria. Our sourcing process involves thousands of Developers / Landlords / Owners of Shopping Centers as well as the commercial broker community (enclosure). process of Sourcing deals for you…………

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CPS Network

 Sourcing through the CPS Network of 50,000 contact points  (enclosure) with  a focus on the 10,000 Developers whom we contact on a regular and ongoing basis for new opportunities.

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Opportunity / Project

As we get a new Opportunity / Project from a developer

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Marketing Package Info

 Select a suitable deal for theatre tenant.

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Approval

Send to potential tenant for  approval who is at this point invisible (confidentiality) 

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Interest

With theatre interest we connect tenant and developer (tenant finally divulged)

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Negotiation / LOI / Lease

All of which our involvement is up to our Client. However, regardless of our involvement from this point, our primary work is done as we connect you to the opportunity. Our primary role is Sourcing opportunities for you. 

Interrelationship of Parties

Developers  and Tenants each may have their own set of brokers. Both  may have an internal broker and or an  external broker  (Listing or TRB  tenant rep broker)  at the same.  Internal brokers are working for the developer and are paid a salary while external brokers are separate from the developers  company and work on a commission basis.  As the developer has a project to market their  broker,   be they internal or external  (listing broker)   reaches out to tenants, directly through the tenants ‘internal’ broker or the tenants external broker  (TRB tenant rep broker).  So  the mix contains  all manner of marketing options for both Developer and Tenants – Internal brokers and External brokers  (List and TRB) . All four usually come together in some fashion to make a deal. Our MO is unique. We go directly to the developers  to source projects or opportunities for you.   From our  stable of thousands of landlords (enclosure) our job is to continually Source those contacts for theatre opportunities.  We often become the The representative or the listing   broker   for the project, for the theater piece only. If we become the listing agent for a project for the landlord for one piece of the project the theater and allow  the other listing agents to handle the rest of the project.  if we become the Theater rep for a project we reach out to tenants / theatre operators.  If we have only one role that of  TRB – tenant rep broker, we sensitively select for a tenant by type alert them of the deal.  

Benefit to developer

While our Go Direct MO is more a more extensive and refined sourcing process and takes another level of effort we believe it ultimately simplifies the sourcing process with multiple benefits to the developer. Per broker fee – if we have adhered to our MO  – Go Direct and we have gone directly to the developer and secured a project, we are working both sides of the deal (the listing side and the tenant side). We can then technically claim both sides of the fee….. however we (as some do) don’t.   Go Direct method …..direct benefits to the developer.

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