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.

Forget what your rent roll says. Forget what CoStar or the appraiser says. If you really want to know what the market rent is—get in your car, drive your market, and talk to other leasing agents. When I buy a shopping center, I don’t guess rents. I do the homework:• I identify my competition.• I walk their centers.• I peek inside the vacancies.• I evaluate visibility, parking, signage, frontage, and foot traffic.• I stalk their websites for quoted rents and CAMs.• Then—I talk to the agents. I ask what’s leased, what’s not, and what’s real. Visibility alone can justify a $10 PSF bump! A 1,200 SF endcap on Main Street with 65,000 cars/day? That’s a different animal than a deep-in-the-back space in an 800,000 SF center. Want higher rents? Build the case. Understand the vacancy rates, the comps, the demand, and the foot traffic. Then test the market. Start quoting $26 instead of $22 and see who bites. Own a multimillion-dollar property? Act like it. Be the most informed landlord in your market. And remember—if your tenants are crushing sales and paying 2% in occupancy cost, they can likely afford more rent.

Let’s get one thing straight: lease options benefit tenants – not landlords. Yet, so many landlords hand them out like candy, locking in below-market rents for years. Right now in South Florida, I have tenants paying $34/SF whose leases are set to roll in 18 months… and guess what? The market rate is nearly $70/SF! But with three five-year options at a measly 3% annual increase? That’s money left on the table—and a serious hit to your property value. If you must give options, here’s the Rockstar way to do it: Be fair, but don’t be foolish. You’re managing a multi-million dollar asset. Start negotiating like it.

Let’s talk about TI — Tenant Improvement dollars. I’m allergic to it. Sure, I’ve given it. But only when it makes strategic sense. Why? Because when a tenant asks for TI, my first question back is: “How much is it going to cost YOU to open?” If a tenant’s total project is $100K and they only have $30K to their name? 🚩 TI is not a gift card. It’s an investment — and I’m not putting in more than you are. If you’re spending $50K and asking me for $50K, we might talk. But if you expect me to turnkey your entire buildout? I’m not your landlord. If I do give TI, I wait until you’ve opened, I’ve got your certificate of occupancy, and you’ve paid your first rent check. No mid-construction draws — I’m not your bank. And if you’re getting TI, you better be giving a strong guarantee. Why? Because if you flake mid-demo and I’m left with a torn-up space, I want recourse. One more thing — I don’t do full free rent. Half base + full CAM at most. Why? Because teaching tenants not to pay rent for months? That’s a habit I’m not in the