SHOPEASE is one program under the umbrella of SHOPCENTRIC that focuses on simplifying the leasing process from start to finish. There are many services offered through this program that are aimed towards assisting prospective tenants as well as the brokers who assist them. The program includes simple lease and renewal forms that do not require attorney involvement, “in house” proprietary business plan development and broker fast pay, to name a few. The online portal, www.weingarten.com/shopcentric/shopease, gives access to all the resources the program provides described in more detail below.
Simple Lease and Renewal Forms
The LD lease is designed to simplify the language in a lease so that attorneys are not needed to review the documents. These leases are generally used for spaces 15,000 SF or less and are intended primarily for local and regional tenants. The benefit from using these lease forms is that it speeds up the process enabling the tenant to open for business more quickly, as well as eliminate the need to hire an attorney. The average time from the draft of the lease to when Weingarten Realty has it back signed from the tenant is only four days. The LD lease has proven a very successful aide for Weingarten in bringing in new tenants as well as for the tenant.
Business consulting via local small business development source
From coast to coast, Weingarten Realty has compiled a list of business development contacts and banking resources for current and potential tenants. This information will help small business owners take advantage of various community and financial assistance opportunities they may not know are available. Many of the community development programs assist in finding funding and in strategic planning for start-up businesses or for growing and expanding businesses. Weingarten Realty has included banking contacts in our major market areas that have shown to be influential in small business lending by serving as a catalyst to stimulating economic growth.
“In house” proprietary business plan development
One of the first and most important steps in opening a business is developing a solid business plan. Weingarten Realty has many experienced associates who have ample knowledge of business development who are willing to assist in writing business plans for new owners. Sample business plans can be found on the SHOPCENTRIC portal for those wanting to see what is expected when beginning the process of writing the plan.
Financial statement preparation assistance and “easy to use” forms
Along with business plan development, Weingarten Realty provides a simple personal financial statement form for prospective business operators to complete. This form helps to build a financial picture of a prospective tenant’s financial position, and its’ ability to successfully capitalize the business while providing adequate working capital during the early stages when a new business is focused on building revenue.
Broker Fast Pay and Advertising
Weingarten Realty appreciates both the value and business that the brokerage community brings in every transaction. Weingarten Realty sends broker blasts to announce new leases with the name of the broker who assisted in the transaction. Most importantly, it is a priority at Weingarten Realty to get brokers’ commissions paid within 15 days of a fully executed lease due to a systematic approach between the leasing and accounting departments.