Real Estate Services

Preferred Retail Development Program For Retailers

Offering a very experienced development and management team, Roderick Realty is actively pursuing preferred development opportunities with retailers, restaurants, and service businesses looking to roll out single or multiple store concepts throughout the Intermountain West and the Wasatch Front of the Salt Lake City metro market and surrounding areas. By working closely with our clients and their consultants, Roderick specializes in strategically meeting its clients’ growth and expansion plans and goals. The company has a successful longterm track record of balancing the multiple demands of:

  • Strategic site selection
  • Structuring and negotiating land acquisition
  • Site layout
  • Governmental entitlement procurement
  • Property development
  • Building design and construction
  • Leasing transactions
  • Efficient and timely project completion
  • Property management

Our decades of success is most vividly illustrated by our longstanding relationships with many of our clients and tenants. At Roderick, we can buy the dirt, build and lease the building and handle all components of rolling out a single or multiple store program that provides for critical mass and operational economies of scale for our clients.

 

Acquisition/Joint Venture Opportunities

Roderick maintains a strong balance sheet and has dependable borrowing capacity and the ability to raise substantial equity to sponsor and/or participate in Acquisition or Joint Ventures of retail or industrial properties or portfolios. Our criteria is listed below:

 

Acquisitions of Retail and/or Industrial Properties

Roderick has a strong appetite for individual property or portfolio acquisitions in the retail and industrial sectors.

Retail property acquisition criteria:

    Three-mile radius demographics of:

  • Population of 100,000 or more
  • Average household income of $80,000 or more
  • Traffic counts in all directions of at least 40,000 cars per day
  • High barriers of entry
  • Frontage and good visibility with a traffic-light corner
  • Grocery anchored preferred
  • Value added potential or developable adjacent land

Industrial property acquisition criteria:

    Details coming soon

Roderick Realty creates, develops and promotes positive long-term economic results for our clients, tenants, and communities where we develop.

 

Property Management

Roderick thinks and acts like owners because we are owners of retail, industrial, and office properties. Our distinctive management style is the result of over 44 years of real life experiences collected from owning and managing the properties we develop.

  • Review and analysis of existing leases, preparation of lease abstracts and daily administration of lease terms.
  • Meet regularly with Clients to develop strong working relationships.
  • Prepare monthly operating statements and variance reports.
  • Carefully manage vendors to ensure high quality service at a fair and competitive price.
  • Aggressively enforce cost control measures including periodic re-bid of vendor services and creative analysis of energy consumption and property operations.
  • Complete periodic CAM reconciliations as prescribed by terms of the leases. Manage and resolve Client CAM audits.
  • Experienced and professional oversight of daily property operations and maintenance.
  • Prepare and administer annual budgets for each property.
  • Practice continuous and assertive rent collection efforts.
  • Attentive risk management with frequent property inspections to identify and proactively resolve life safety issues or conditions which might result in mishaps or insurance claims.
  • Staffed with Certified Property Manager with over 20 years of experience in property management.

 

Construction Management

Roderick Realty’s extensive construction experience, systems, schedules and long-standing relationships with its general contractors drives the entire development process. We handle everything from and including:

  • Initial strategic site selection
  • Property due diligence
  • Structuring and negotiating land acquisition
  • Site layout
  • Governmental property entitlement
  • Building design and construction
  • Governmental entity approvals
  • Cost estimating
  • Value engineering
  • Leasing transactions
  • Efficient and timely project completion
  • Tenant openings
  • Property management

Roderick Realty has a long term track record of success in balancing the multiple demands of property development, efficiently and reliably. We have an impeccable track record of completing projects on time, within budget and with excellent quality and value.

 

Leasing and Marketing

  • Research competing developments and determine appropriate direction and economics.
  • Develop strategy for leasing and marketing efforts and create merchandising and re-merchandising plans and Targeted Tenant Hit lists.
  • Identify and procure anchor, big box, shop space tenants, and pad tenants.
  • Prepare and negotiate all phases of the contracts.
  • If appropriate, hire and/or manage external listing brokerage team.
  • Prepare all marketing materials and present them to the Tenant and brokerage community with brochures, direct mail, email blasts and cold calling.
  • Attend and market projects at all appropriate ICSC functions and similar events.
  • Coordinate and hold ground breaking and/or grand opening events if appropriate.

 

Asset Management and Finance

Roderick Asset Management Team is comprised of a Senior Asset Manager with over 20 years of experience. Our customized reporting is made available through our proprietary software platform so decisions can be made or presented for the following:

  • Detailed financials for committees, investors and regulators in order to implement short-term/long-term strategic plans and exit strategies (construction costs, effect of debt levels vs. equity, sell and hold analysis, and profitability analysis).
  • Capital advisement services including sourcing, negotiating and closing on Joint Venture partnerships.
  • Expert “opinions” on property performance, value and pricing.
  • Create detailed pro forma models (construction, equity and debt assumptions, sale and hold analysis, profitability analysis, property management analysis) for new development projects.
  • Consult on joint venture structure and development opportunities.
  • Prepare lender package for construction loan and obtain quotes from prospective construction lenders.
  • Review loan quotes with Client, select construction lender, and work with Clients attorney to negotiate the loan documents and close construction loan.
  • Provide capital advisement services, including sourcing, negotiating and closing.
  • Draft, review and finalize entity Operating Agreements.
  • Upon project completion, prepare package for permanent loan and obtain quotes from prospective permanent lenders.
  • Review loan quotes with Client, select permanent lender, work with Client’s attorney to negotiate loan documents and close permanent loan.