Woodcliff is a full service consultancy serving the commercial real estate community with an array of service areas from development and re-tenanting assistance to implementing operating efficiencies.
In the acquisition, development and redevelopment phases, Woodcliff can assist with several key services to help achieve the property's highest potential. We can identify best use, space allocation and uncover opportunities for income enhancement and optimize the tenant mix. We can help with development management and planning, site and feasibility studies, due diligence, analysis of underwriting assumptions and qualification of return on investment potential. We can provide assistance with alternative financing using public funds or incentives, handle project management and construction management, and undertake the tenant coordination process from the tenant criteria manual to expediting tenant construction, right up to opening stores. We can create a repositioning strategy, devise a sophisticated marketing campaign to the trade as well as the consumer, and implement them for you.
In the operating phase, Woodcliff can help optimize your real estate asset. We analyze successful properties (not just underperforming ones) where additional redevelopment activity or a shift in leasing strategy can lead to an increase in funds from operations and enhanced value. How does a landlord of a highly performing property know that income and potential are truly optimized? For operating properties, we also conduct an analysis of alternative revenue (non-rental income) opportunities. Our services include consumer research, automated retail tenant sales gathering methods with reports that define tenant occupancy costs, effort ratio and rent potential by tenant and by space. We can analyze the tenant mix for optimum performance in addressing the market’s needs and in context with what is offered in the competition and where the voids are in the market as well as in the subject property. We can prepare a best-use plan, create business plans, and devise marketing and public relations strategies. We can also implement your tactics. We can create your press kit, send out your news releases and arrange media interviews. We can create your specialty leasing and alternative revenue program and manage it for you. We can analyze the potential to successfully add a multiscreen theater, complementary entertainment and dining uses to help internet-proof your property. We can bid out the proposal to theater operators for you right up to arranging the deal, managing the construction and opening the theater.
Finally, we look at the positioning (branding, image, etc.) of the property in the marketplace to redefine the appropriate perception for the retail community (leasing prospects) as well as consumers in the market using sound sophisticated research and strategic communications vehicles and messages.
Woodcliff uses expertise from a varied team of specialists to draw upon their areas of proficiency and assigns the pertinent expert or select group of experts to the client to satisfy the scope of the assignment. In this manner, the appropriate specialist can work directly with the client where his or her expertise can be expertly applied to achieve optimum results. All is done with the most transparency. Once we ascertain your needs, we can provide you with a defined proposal listing the scope of work, the anticipated fees and costs, the timing and the particular specialist or group of specialists who would be assigned to your project. We can contract the project as a lump sum fixed-price contract, step pricing as major stages of the work are completed, or on a time-and-materials basis that takes into account the resources to be employed, anticipated out-of-pocket costs and the estimated time to complete. We offer flexible payment arrangements and can plan out the work in phases.
SERVICING THE NEEDS OF
Real Estate Owners
Communities and Government Agencies
Service Providers to the Commercial Real Estate Industry
PROJECTS OF CONCENTRATION
Open-Air Neighborhood Centers, Community Centers and Power Centers
Factory Outlet and Value Retail Tenants and Landlords
Underperforming Enclosed Regional Malls in Need of Redevelopment
Mixed-Use Projects Where Retail Is a Component
Expanding Retailers Needing Help with the Real Estate Functions
AREAS OF SPECIALIZATION
PROJECT MANAGEMENT: For landlords, lenders and retailers
Regardless of where in the world you need expert and reliable project management, Woodcliff can come to your aid. We offer design and construction representation on behalf of the property owner, the lender and the retailer involving major construction work. Gordon T. Greeby, Jr. brings to Woodcliff an extensive network of professionals specializing in project management, development management, and tenant coordination with offices in Chicago, Boston, Orlando, Atlanta, Los Angeles, and affiliated companies around the world. Woodcliff works with a circle of highly experienced construction professionals to provide owner’s representative services. During the predevelopment phase, Woodcliff can help provide:
Site assessment for construction, existing conditions evaluation, due diligence, construction pro forma, program organization, team assembly, contract negotiation, conceptual design oversight, pre-construction services, value engineering alternatives, and contract document administration.
If you are in need of construction project management, Woodcliff can help provide:
Site due diligence, team assembly, scheduling, design management, cost analysis, construction administration, systems and technology integration, and occupancy phase coordination.
TENANT COORDINATION (RETAIL DELIVERY): For landlords
Working with professionals from the Greeby Companies, Woodcliff can provide tenant coordination services to get your new stores opened quickly, efficiently and paying rent while ensuring compliance with code regulations and meeting specific landlord and tenant requirements. Tenant coordination services include:
Creating an interactive state-of-the-art tenant design criteria manual in digital format, customized retail delivery systems that tenant coordination professionals can use to keep tract of progress on their iPads and sync to their desktops, leasing support, design and plan review, developing lease outline drawings (LODs), plan review, landlord work, space turnover, tenant improvement monitoring, preparing contractor rules and regulations, build-out oversight, construction close out procedures, punch list management, right up to helping your tenants obtain their store's certificate of occupancy.
CONSTRUCTION PROCESSES AND SYSTEMS: For retailers, landlords and service providers
If your company has a department that coordinates tenant construction as well as construction capital expenditures for the shopping center shell, site and common areas with third-party general contractors, it might serve you to analyze and standardize your internal processes in order to achieve better efficiency, quality and cost savings going forward. Working with Ronald L. Braun, Woodcliff can help you:
Analyze and re-write your manual for construction processes, create a project management manual, provide interior store construction techniques, train your construction coordinators, prepare specifications for bidding a project, analyze your current construction policies and procedures and provide suggested improvements, assess your construction capital plan, help with retailer concepts rollouts and related troubleshooting, restructure interior build-out processes, establish procedures for fixture repair and installation, and help with strategic planning relating to construction.
CREATING PUBLIC/PRIVATE ALLIANCES: For developers and municipalities to fund a project
If you need help in forming public-private partnerships and urban development planning with an emphasis on alternative financing methods, including tax increment financing, Woodcliff works with two experts, each bringing a different level of expertise and geographic focus. G. Lamont Blackstone can help with inner-city projects and development know-how that gets the door open so that you can close the deal. He offers a national scope with strong emphasis on both coasts. James E. Matanky brings to Woodcliff a team of urban development experts that also can bring in local retailers with a strong presence in the Midwest. Woodcliff can help you:
Facilitate the development and redevelopment of urban real estate assets, obtain underwriting, craft public-private partnerships, negotiate joint ventures, conduct site analyses and tackle site planning issues, create a development proposal, attract a national supermarket to an underserved urban location, conduct a market and financial feasibility analysis, negotiate a plan for public parking and infrastructure to support your development, and plan your reciprocal easement agreements involving multiple owners in a redevelopment.
DEVELOPMENT, REDEVELOPMENT, ENTITLEMENTS, SITE PLANNING: For landlords
Woodcliff can help with development of properties from small neighborhood centers to large scale mixed use. G. Lamont Blackstone and James E. Matanky can assist you with urban and suburban neighborhood shopping centers and John M. Genovese can help tackle the large scale developments that involve bringing anchors, massive parking structures, residential components and extensive retail. Services include:
Assistance with land acquisition, site planning, entitlements, analyzing construction soft and hard costs, reviewing the construction schedule, evaluating market forces, determining if the location can attract retailers, and if so, which types to pursue, qualifying the feasibility research, the development pro forma and pro forma rents, analyzing budgets for tenant allowances, assessing pre-leasing needs, ordering an ALTA survey, environmental survey, traffic studies, considering offsite improvements, out-parcels, ground lease, utilities and infrastructure planning, and more.
CONDUCTING A FEASIBILITY STUDY: For acquisitions, development, financing, or attracting an anchor
Woodcliff clients — whether they represent developers, private or institutional investors, retailers or public agencies — and are in need of a reliable feasibility study to qualify the potential of a retail or mixed-use site for or developing, redeveloping, seeking anchors or financing will very likely work with Bill Speer. Depending on your specific needs, Woodcliff offers:
Retail feasibility market research, financial analysis, disposition versus long-term holding strategy analysis, assessing real potential for business development prior to project opening, defining market rents and retailer sales potential for the development of a reliable pro forma, comparing primary research to secondary industry data and market demographics, analyzing the competitive climate by retailer type to plan the project's tenant mix, and more.
CONSUMER STUDIES: For marketing, leasing and optimizing productivity in a multichannel environment
With the assistance of David D. Lobaugh, Woodcliff can provide landlords and retailers with the latest techniques in online, intercept and focus group consumer research. Up to now only pure-play e-retailers were able to target specific consumers that were likely to buy their products, which left bricks-and-mortar retailers struggling to catch up with the likes of Amazon. Now, Woodcliff can gather and segment big data employing many innovative and sophisticated techniques to help physical retailers target their consumers and shopping center landlords plan out their leasing strategies for optimum productivity and rent. Among these are:
Cellular smartphone vehicular tracking data depicting actual trade area shopping patterns, true trade areas and actual shopper demographics for pre-acquisition and repositioning projects, produced to help Woodcliff clients sort and analyze data in usable, actionable ways. Likewise, online opt-in surveys and loyalty club/shopper surveys, retailer site-finding/location optimization studies, proprietary shopper segment persona quantification and linkage to spending patterns and preferences; and precision leasing studies that optimize tenant mix and co-tenancy synergies.
MARKETING: Specializing in corporate branding, urban and mixed-use retail, and repositioning properties
If it's a fresh and sophisticated marketing approach you are seeking, look no further than Woodcliff. Working with Alberta Davidson, Woodcliff can assess the market position of a shopping center company or a retail-focused project to revamp its campaign or to reposition the property in the minds of the existing retailers, prospective retailers and the consumer. Consider among the following Woodcliff marketing offerings:
Assessment of marketing plan and parameters, creation of a targeted marketing and leasing plan, devising a sponsorship branding for income generation and positioning, creation, production and placement of advertising campaigns, restructuring the corporate brand, image and marketing department, sponsorship/alternative revenue programs, implementing new digital and social networking strategies that involve pay-per-click, search engine optimization, social media campaigns, email marketing campaigns and banner advertising, revamping the website in a manner that works with mobile, PC, Mac and digital wearables with communication that speaks to the target audience, sales promotion, special events, community relations, merchant motivation/relations, partner relations, and marketing staffing administration.
PUBLIC RELATIONS AND NEWS MEDIA STRATEGIES: Specializing in trade and consumer media
If you are seeking to redefine your corporate communications strategies, devise a public relations program or hold a news conference for a project launch, Debra Hazel can handle the assignment for you while collaborating with the Woodcliff team. We do not offer the typical PR but rather professionalism in journalism that speaks the language journalists understand and consider for coverage as news. Our emphasis is the shopping center trade media, and we communicate with journalists with specialized knowledge and relationships that offer Woodcliff's corporate clients a global business perspective for their communications plans that bring results. For groundbreaking events, grand openings and re-openings, and project launches we can help spur coverage and get your message to the community through the local media. When PR objectives, audience research, and messaging are defined, we can formulate a clear and realistic PR plan outlining strategies and tactics. Our services include:
Consulting and strategic planning, creating national, regional and local publicity campaigns, designing and creating the press kit, planning the calendar of news releases, writing the news releases and distributing them to targeted media representatives, media relations interaction on your behalf, seeking interview opportunities, holding news conferences when appropriate, arranging media and VIP tours, assisting with event publicity and promotion, providing trade exposition support, copywriting services to add punch and professionalism to your communiqués, contributed or by-line articles in trade publications, pitching speaking opportunities, industry awards applications, blogs and social media.
LEASING CHALLENGED PROPERTIES: For landlords
Rene F. Daniel can assist Woodcliff clients with re-merchandising and leasing underperforming regional shopping centers and devise the optimum strategy for a property, whether it is a newly acquired asset, a long-term hold or a candidate for disposition. We can tackle large retail properties including regional malls, lifestyle centers and specialty centers, as well as smaller mixed-use developments anywhere in the United States. Mr. Daniel has been successful in creating positive cash-flow as a result of his leasing and re-merchandising efforts in new, planned and existing properties.
LEASING AND CONSULTING ON FACTORY OUTLET CENTERS: For landlords and retailers
If you are considering adding an outlet component to an existing shopping center, planning a conversion to outlet retail or developing a successful factory outlet shopping center anywhere in the world, Woodcliff works with a team of experts that can help you plan it, lease it and avoid making costly mistakes. Our team includes Ronald F. Simkin and Steven Levy. Both have worked on behalf of landlords and retailers, and both have experience with outlets as well as non-shopping center properties that have a retail component, such as mass transit, airports, and mixed use. Retailers looking to expand can contact Woodcliff whereby Mr. Levy can arrange representation and provide a sensible list of options all the way to lease negotiation with the landlords. Services include:
Strategic planning and implementation of national and international rollouts of new retail concepts, tenant representation, commercial and investment sales, restaurant brokerage services, leasing on behalf of the landlords, preparing a tenant mix and rent pro forma for a factory outlet shopping center from the predevelopment stage through final leasing, and analyzing a feasibility study for an outlet center to quantify and qualify the elements.
SPECIALTY LEASING AND EXTRA INCOME GENERATION: For landlords and specialty retailers
As a landlord, you want assurances that revenue from sources beyond long-term leases is maximized at every retail property. Woodcliff, working with Suzanne Cayley can help analyze your program and show you how to increase income and create a state-of-the-art program that meets today's best practices. Woodcliff can also help traditional retailers expand through pop-up temporary stores, kiosks and retail merchandising units to multiple locations. Services include:
For pure-play e-tailers, we can help create an omni-channel presence through creative leasing of the right bricks-and-mortar location to ensure success from the start. Using our team of consultants we can plan the physical location entry on short-term occupancy or a long-term lease. For short-term agreements we can help you with the agreements with the landlord, set up your location and even help staff it.
For retailers and consumer brands, we offer retailer representation and consulting services, including visual merchandising, site selection, lease negotiation, physical location set-up, hiring and training sales staff; leasing and building “pop-up retail” or “swing shop” at attractive rents on short duration license agreements, including build-out assistance; helping traditional retailers expand and test new markets with a seasonal location or branch out into a kiosk or retail merchandising unit to increase revenue during a seasonal period.
For landlords of shopping centers, public places, transit facilities and airports, we help create a new or revamp your existing specialty leasing program, including designing, implementing, leasing, training staff, hiring and/or managing your program; automating retail sales collections and reports, developing a model license agreement, specialty leasing evaluation, which involves analyzing your existing program and developing actionable plans to improve the overall appearance and increase revenue, train your specialty leasing team to perform at a higher standard and generate more income; revamp your visual merchandising approach to improve the overall appearance of the shopping center and set up new guidelines to follow. We also offer leasing assistance with in-line spaces for seasonal occupants by seeking retail concepts to operate on a short-term agreement with a “pop-up store” or “swing shop.” We help design the space and suggest improvements to create the aesthetics and standards in keeping with the shopping center’s image, which is ideal for shopping centers with vacancies that seek temporary storefronts with retail activity.
ACQUISITIONS AND DISPOSITIONS: For property owners, investors and lenders
With the assistance of Michael Rulli, Woodcliff can help evaluate the pro forma of a property for sale to opine on its appraisal, cash flow projections, pro forma reliability, underwriting assumptions, stabilization period, market studies, cap rates assigned, analysis of operating company fees and back-end promote, financing modeling with emphasis on loan-to-cost, loan-to-value and debt service coverage ratio to determine financing capacity, debt yield, and return on investment models. See other services relating to acquisitions and dispositions elsewhere on this page involving due diligence, lease examination and abstracting, and feasibility research.
RAISING VENTURE CAPITAL AND SEEKING RETAIL DEVELOPER PARTNERS: For landlords and service providers
If you are a developer of mixed-use properties and are looking for the right retail developer partner or you are an entrepreneur service provider catering to retail real estate and are seeking investment capital to propel your business, contact us at Woodcliff. Rudy Milian brings to Woodcliff clients extensive relationships with key individuals in the retail real estate industry and investment community. If you are an experienced entrepreneur building an innovative company with a sound business plan but in need of capital, we can help you interact with early stage venture capital firms to familiarize them about the uniqueness of your business model and your brand proposition within retail real estate circles. We help you reach your ideal prospects, but before you begin a meaningful dialogue, you will need a presentation that will get their attention and interest. We can prepare an executive summary that effectively highlights the key messages about the opportunities you are offering to venture capital investors seeking participation in first round of stock offered during the seed or early stage round. We can become involved at the board level and offer you meaningful connections and shared experiences.
LEASE ACCOUNTING AND LEASE ADMINISTRATION: For landlords
Don't leave money on the table because of lease accounting practices that may be inaccurate or need updating. If you are selling a shopping center, Woodcliff can help review leases to ensure maximum cash flow, help prepare cash flow models and lease summaries for inclusion in marketing packages, and scrub lease and correspondence files for completeness. For an acquisition, Woodcliff can help the buyer by creating a realistic alternative acquisition spreadsheet that challenges the seller's optimistic cash flow projections while at the same time identifies upside income potential for the buyer. In running a smooth operation, there are many ways that Woodcliff can assist you with your lease administration. Jack Nugent and his associates bring lease accounting and examination expertise to Woodcliff clients who are in need of:
Conducting thorough due diligence prior to a disposition or an acquisition, reviewing prior year reconciliations, accounts receivable and correspondence to ensure accuracy and consistency with the leases; abstracting the financial and non-financial covenants of the leases and summarizing complex issues, abstracting leases and license agreements and entering the data into owner's property management software, evaluating lease accounting system efficiencies, preparing estoppels and prorations, outsourcing your lease administration, assisting with property transitioning, providing expert testimony on common area maintenance administration and billing and related issues involving industry standard practices, preparing and reviewing cash flow modeling and forecasting, budget process streamlining, lease transaction analysis, assessment of lease language involving lease revenue, evaluating software alternatives for lease administration, and tenant dispute resolution.
RETAIL TENANT SALES AUDITS: For property owners, managers and investors
Working with Kenneth S. Lamy and his highly experienced team of professionals including CPAs and MBAs located throughout the United States, Woodcliff can help to monitor, measure and manage your property, stores, agreements and contracts via financial examinations including:
Customized retail sales and lease compliance examination (tenant sales audits, revenue share, and data verification) programs, revenue audits of specialty leasing programs, test transaction/secret shopper programs, parking facility revenue programs, ground lease participation programs, rent abatement (relief) programs and analysis of performance and financial systems for restaurants
Working closely with each client we will develop policy, procedures and strategies to maximize NOI of their properties by measuring the “true sales” of stores and compliance of their lease covenants in accordance with proven best practices. From planning to implementation to follow-up support, we bring unique industry knowledge, expertise, experience and technical application along with a commitment to real world best practices that can have a positive impact on NOI.
RETAIL TENANT SALES REPORTING: Customized and automated for landlords and tenants
Available to Woodcliff clients representing property management companies is a new proprietary Software as a Service (SaaS) solution from DataPoint International, LLC. EXETER Retail DataHub automates retail tenant sales reporting for landlords to streamline their collection of tenants' sales data reporting from stores. Retail companies can also standardize and automate their sales reporting to multiple landlords using a module of the SaaS. Sales reporting and obtaining customized reports including big data analytics have never been this easy. These reports can uncover hidden patterns, unknown correlations, market trends, shopper preferences, troubled tenants, effort ratios, and other useful business information. Benefits experienced include: streamline your workflow, save costs (time and money) on current manual reporting process and achieve precision of store sales data entry input. Woodcliff will help set up the system for you.
COSTS SAVINGS AND OPERATING EFFICIENCIES: For property owners, managers and investors
Reducing operating costs such as energy, water, common area maintenance, snow removal and other expenses can help building owners improve NOI and help reduce occupancy costs for their tenants. Working with Eric C. Buckner, Woodcliff can:
Arrange for energy procurement at substantial savings in de-regulated jurisdictions, inspect energy billing to reduce energy costs, conduct load studies to produce defensible usage and demand for tenant energy consumption in the absence of tenant submetering, properly allocate tenant consumption and improve billing systems, review and suggest alternative lease language for optimum operating efficiencies, compare energy usage alternatives, apply for utility rebates, analyze viability of renewable energy installations, devise contract specifications with utilities and grid operators for the most appropriate demand response programs that pay building owners to reduce demand during peak times, ensure properties are being billed according to the most favorable utility rate schedules, evaluate the pros and cons involving a conversion from pro rata share of operating costs to flat fixed CAM obligations, create a variable incentive program for corporate and property management, help resolve CAM audit issues and more.
Prepare RFPs and help negotiate HVAC central plant purchase and maintenance contracts, vendor trash hauling agreements, third-party paid parking facility management services, and automated parking equipment to replace cashier operation.
SUSTAINABILITY REPORTING, EFFICIENCY SYSTEMS, ENERGY REDUCTION: For building owners
Heading up the sustainability team at Woodcliff are green building veterans, Pamela Lippe, LEED Fellow and George Caraghiaur, LEED AP, each of whom brings Woodcliff clients unique skills and experience. Woodcliff can help you spruce up the green building strategy for your properties and create efficiencies where needed to burnish your image in sustainability, save on wasted resources, make your building safer and more comfortable for its occupants, lower your carbon footprint and help with compliance issues. Woodcliff can also create a corporate social responsibility plan for you that you can share with stakeholders, which places you at par with the most sophisticated Fortune 500 companies. Other services include:
Assist your architect, construction professionals and operating team in seeking LEED, BREEAM or other sustainability certification for new or existing properties; plan, reassess and manage your property energy consumption, calculate energy use of different proposed lighting systems to improve efficiency, assist with sustainability reporting to senior management, board of directors, investors, stakeholders and third-party benchmarking systems that measure the sustainability performance of real estate companies, such as the Carbon Disclosure Project (CDP), the Global Reporting Initiative (GRI), and the Global Real Estate Sustainability Benchmark (GRESB); apply for third-party financing of sustainability improvements, apply for green tax incentives and credits from cities, states and provinces, federal sources and rebates that may be available from utility companies.
TRAINING IN CUSTOMER SERVICE, SALES, RETAILING AND MANAGEMENT COACHING: For landlords and retailers
Donn Carr brings to Woodcliff clients training in retail, customer service, salesmanship and other areas to sharpen the skills of your professionals. We can train professionals working for retailers, shopping center companies and the hospitality industry. Our training can be customized on a one-on-one coaching basis or as a group in a classroom setting in the following areas:
The physical store, site selection, build out procedures, dealing permitted use and other lease provisions, lease negotiation, merchandising, assortment planning, visual merchandising, store lighting, store fixtures design and selection, store layout, customer service, salesmanship, body language, call center, attracting and retaining customers, human resources, finding the right employee, coaching your team members, teamwork, and leadership development.
COMMERCIAL REAL ESTATE EXPERT WITNESS: For lawyers
Several consultants affiliated with Woodcliff (including Rudolph Milian) are available as qualified experts to give their opinions to help the court understand evidence and to establish a fact in issue relating to several fields of retail real estate for which they are competent in the subject matter. Each of our experts are qualified through training, education, knowledge, skill, and practical experience resulting from more than two decades of on-the-job experience in commercial real estate and shopping center economics, development, leasing, property management, security, premises liability and/or finance. Our expert witnesses understand underlying methodology and procedures for which they rely upon as a basis for their opinion. They perform two primary functions: 1) collecting, testing, and evaluating evidence to form an opinion as to that evidence; and 2) communicating that opinion and its basis to the judge and jury. Our expert witness compensation is never contingent on the outcome of the case or the substance of his or her opinions or testimony. Upon qualification by a client’s legal team, our expert witnesses will:
Review pertinent material involving the case
Conduct a search of relevant external documents involving commercial real estate industry best practices
Reach their own conclusions and opinions relating to the case
Prepare a detailed expert report for the court about the issues involving the case. In the report, the expert will state each opinion — and give the reasons for it — including the underlying facts or data used as a basis for the opinions
Provide testimony for the court