Brokers will push for 10-year deals—because 10 years means bigger commissions. But guess what? You’re the one guaranteeing that lease, not them. Here’s my rule: I don’t do 10-year terms with mom-and-pops or first-time franchisees. I don’t care if they’re with a national brand—if it’s their first rodeo, I treat it like one. Five years max, maybe a 5-year option at market. Commission structures? Stick to 3% on the first 5, 1.5% on the next—not 4% on 10 years unless the tenant is dropping a million bucks in improvements. Commissions are already higher because post-COVID rents are sky-high. Don’t let desperation from tenant reps (who are struggling to find space) force you into a long-term commitment that doesn’t make sense. Want brokers to bring you deals? Be responsive, be fair, and pay them fast. I wire commissions the day after lease signing. It builds trust—and reputation. Remember: if you feel pressure or something seems off, phone a friend (or me!). Don’t get bullied into handing out 15-year leases like candy.

When it comes to owning and managing shopping centers, operational excellence can make or break your tenant retention and NOI. Let’s stop thinking only about big leasing wins and start focusing on the little habits that drive long-term value. Overflowing garbage cans in front of your stores? Remove them. Yes, remove them. You’d be shocked how much cleaner your center will stay when customers take their trash elsewhere—and your pressure cleaning budget will thank you. Lock your roof hatches. Tenants’ vendors love to leave them open, which leads to copper theft, roof punctures, and leaks. Make them call for access and follow up with your maintenance team right after. Lighting matters. If pole lights are out, it’s a liability—especially for women walking alone at night. Do regular light checks and fix outages within 24 hours. If your trees grow and start dimming the lot, don’t wait. We added new lights for $5K and dramatically increased nighttime visibility. Skip sweeping large lots with expensive machines. Instead, invest in a great porter. Handpicked garbage beats weekly sweeping in most neighborhood centers. Bonus: Colored flowers at entryways and pylon bases grab attention from the street. It’s a subtle marketing trick that draws eyes

Want to increase sales across your center without spending money? Build real relationships with your tenants—yes, even the nationals—and learn what makes their businesses tick. Whether it’s knowing when their busy seasons are, or what local events might drive traffic their way, these little nuggets can lead to big wins. Case in point: One of my tenants recently hosted an autograph signing with two Stanley Cup champs. We worked together to notify other tenants, open a nearby vacancy for overflow merchandise, and even coordinated with restaurants to hand out free sliders and smoothies. The result? Packed parking lots, happy tenants, and buzzing social media. The more you know your tenants’ businesses, the better you can support them—and when they win, you win. Don’t wait for rent checks to be your only interaction. Ask them how they’re doing, what’s working, and what’s not. They’ll often tell you exactly what they need—and how you can help. Rockstar Move: Challenge your property manager to tell you one thing about each tenant’s business. Just one. You’ll be amazed at what you learn.

One of the biggest mistakes I see shopping center owners make? Relying on online rent comps. You know those listings are wrong—I don’t even give my info to those sites! So how do you get accurate market data? You build relationships with your Neighborhood Leasing Agents (NLAs). When I was underwriting a deal, a quick call to a neighboring agent gave me the inside scoop on a renewal deal with a national tenant. That insight alone let me confidently increase my projected rent by $10/SF—which helped me win the deal! And I don’t mean a one-time “nice to meet you.” You’ve got to nurture those relationships over time. I even host Dead Deal Meetings twice a year where I gather the leasing agents in my market and we swap deals we couldn’t do. I’ve leased space from leads that came directly out of those meetings! Pro tip: Sharing is key. You can’t just take, take, take. Be generous with your own intel. It builds trust—and it comes back tenfold. Bottom line? Don’t isolate yourself behind rent rolls and listings. Get out there. Meet the agents. Build trust. Share leads. Real-world info beats appraisals every time.