The BID recently launched a free retail development program to assist BID property owners with securing higher quality tenants and achieve more competitive rents.
After recently engaging an expert retail consulting company to conduct a retail market analysis for the district, we learned that downtown Jamaica property owners and their tenants and are losing over $3 billion dollars in unmet consumer demand in major retail categories— full service restaurants, furniture/home furnishings, electronics, specialty grocery, and general merchandise. That unmet demand keeps growing as more new luxury apartment and other major developments keep getting built here. Our free program aims to bridge the gap.
In three short months after launching this program, the BID facilitated 3 new business leases for 3 different property owners. And the interest from prospective businesses and investors is growing. In fact, brokers for establishments such Denny’s and H&M have approached us looking for space in the district.
How does it work? The BID hired a retail attraction associate to actively help prospect for new businesses, market available properties, liaise between prospective businesses and property owners, monitor leasing rates, and provide interested parties with relevant marketing aterials and data. And it is all FREE.
We also provide prospective tenants with the listings of available properties within the district. If you would like your property included, please let us know! Email us at firstname.lastname@example.org with as much information as possible about your available space (e.g. address, size, rent price, amenities, special features, contact information).
In order to facilitate communications going forward, please also respond with a point of contact, an email address, phone and fax numbers for your property. We look forward to working with you in making downtown Jamaica a place of quality retail and restaurant establishments.