Consumer consulting firm finds $500M ‘opportunity gap’ in Spokane Valley market
Spokane Valley earlier this year contracted with Alabama-based consumer consulting firm, Retail Strategies, to assist with increasing the city’s retail footprint by studying the city’s commercial landscape and marketing the area to brokers, developers and retailers across the nation.
Retail Strategies – who contracts with more than 200 municipalities across 27 states for retail recruitment – found there are about 100 retailers that would fit the Valley’s market.
Because Retail Strategies has relationships with property owners, brokers and developers with a database of more than 10,000 industry contacts, it can easily identify property availability, square footage, price and market conditions, said Scott VonCannon, COO for Retail Strategies.
“We’re the Match.com of the retail real estate industry,” he said. “We’re trying to tee up deals and we’re matching individuals together. We’re able to move the needle and actually assist some of these brokers.”
VonCannon said the firm monitors tenants with a high-risk of shuttering and finds tenants to fill potential vacant spaces.
“If and when another retailer decides to shut their doors, we already have some retailers interested in back-filling that space,” he said. “What’s really important to understand is we’re identifying retailers that are active and in growth mode. There’s a handful of restaurants that aren’t here that we’ve identified that should be here.”
Our solution Success