Shopping Center Business

MAY 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 218 of 358

PERCENTAGE RENTS 214 • SHOPPING CENTER BUSINESS • May 2016 It's absolutely always been protected and secure, and so the trust factor has been in place for a long time and that's the foun- dation of this. Confidentiality is Number 1, never to be compromised. SCB: From the retailer's perspective, and even for the owner, the time that it takes to do the reporting with this system has got to be a lot less than the old fashioned mailing and faxing. Lamy: Absolutely. It can be done within a few minutes. We can even work direct- ly with a chain store to customize their sales reporting utilizing our proprietary software to export the data directly from the retailer's system into Exeter Retail DataHub. A comparable experience that I like to use for people to understand is online banking. You log in, your account shows up, you navigate doing the things you need to do, you hit enter, and you're done. It's very easy. It's both sides work- ing smarter. We've created a solution for data collection, which is part one of the process — you've got to get the data col- lected in a more efficient, accurate way. Then, we put a whole toolbox of analyt- ics and reports. There are 24 reports that we've built like nobody has. The larger real estate investment trusts have; they have built their own customized reports, but that's unique to the industry. We have brought to the entire industry reports that are available 24 hours, seven-days a week, with real time updating so that no one has to create and maintain spreadsheets. They have 24 reports; 19 are for the per- manent in-line stores, and five are for specialty leasing like kiosks and seasonal retailers. This is very much turnkey, and the information can be printed, saved as a PDF and downloaded as an Excel file spreadsheet or CSV file from our website. Because we are independent from exist- ing property management and account- ing systems, we're compatible with all of them and information will flow from us to the subscriber company. We're not replacing anything, we're enhancing the existing systems. SCB: What are the benefits to an owner with that style of reporting? Lamy: The reports are going to provide landlords with tremendous insight at the store level. They're going to have reports by portfolio: property level, retailer re- ports, specialty leasing and benchmark reports. They will be able to see, for ex- ample, if they have a certain chain in their portfolio of centers, and they might have five or 50 stores depending on the size of landlord. They will be able to look at that relationship in a meaningful way for the first time because of the way the data is organized and how it's going to give them comparative information. They'll be able to see trends or health indexes of their stores — whether it's effective rent, rent- to-sales ratios or occupancy cost sales ra- tios. All of those can be accessed at a click of a mouse or at the touch of a tablet or smartphone in real time, any time. From a leasing perspective, a leasing agent in the field showing space will be able to pull up data that they have access to because our system is compatible with any device. SCB: How rapidly do you see the growth? Lamy: What we envision is that this will become the industry gold standard. We've done it right. This isn't a sprint, it's a mara- thon in serving the industry on the retailer and landlord sides. Landlords are the cli- ents that we are serving, but we're solving this issue for both sides. And we're doing so in a methodical and reliable way. What we know is that, as it gets started, the re- tailers are going to be enthusiastic, like they've been. We know with the landlords — as we've seen in many other initiatives in the industry — the early adopters lead the way and then the industry follows. SCB

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