Retail
A centre is only as strong as the tenant paying the smallest rent
What this class actually demands
Retail rewards operators who understand that the rent roll is a chain, not a list. One inline vacancy next to an anchor changes the traffic pattern for everyone around it, and a co-tenancy clause can turn a single departure into a rent reduction across half the centre. The parking lot, the lighting and the condition of the common area are not cosmetics — they are what a customer decides on before they decide what to buy, and what a tenant points to when a renewal comes up.
Where HHP fits
We hold the centre's operations and its trades in one firm. Lot repairs, lighting, landscaping and janitorial are performed by our own personnel, so common-area condition is a decision we make rather than a vendor's schedule we wait on — and its cost reports as labor and materials rather than an invoice with margin priced in.
The numbers that decide performance here
Retail performance shows up in the tenant's numbers before it shows up in yours. These are what we hold against a centre.
Occupancy cost ratio
Rent plus recoveries against tenant sales. It is the earliest honest signal of whether a renewal is achievable, and it moves before the tenant tells you anything.
Co-tenancy exposure
Which leases carry co-tenancy protection and what triggers them, mapped against the actual expiration schedule rather than discovered when an anchor gives notice.
Sales per square foot
Where reporting is required by lease, tracked by tenant and by category so a soft category is not mistaken for a soft centre.
Common area cost per square foot
Lot, lighting, landscaping and janitorial, carried per square foot and reconciled through the year rather than at CAM true-up.
Expiration ladder
Anchor and inline expirations laid against each other, because two inline leases rolling in the same quarter as an anchor is a different problem than three rolling apart.
Lot and lighting condition
Surface, striping, drainage and light levels tracked on a cycle. Deferred paving is the most visible deferred maintenance a centre has.
Integrated services for retail
Six capabilities under one firm, so no part of the centre is somebody else's responsibility.
Property Management
Day-to-day operation of the centre by HHP personnel, with the common area treated as the asset it is rather than an expense line to be minimised.
- Day-to-day centre operations and oversight
- Tenant relations and service request coordination
- Vendor management and service quality oversight
- Preventive maintenance and common area management
- Financial management, budgeting, and reporting
Advisory & Site Selection
Trade-area work grounded in what the site can actually support — access, visibility, parking ratio and the competitive set as it exists, not as a report describes it.
- Market and trade-area analysis
- Operational due diligence and asset reviews
- Transition planning for new ownership or management
- Asset strategy development and repositioning support
Transaction Advisory
We underwrite from the expense side because we operate centres, so the CAM assumptions in our model are the ones we would have to deliver on.
- Valuation and underwriting support
- Stakeholder coordination and transaction execution support
- Operational transition planning
- Post-transaction management integration
Leasing & Occupancy Coordination
Store openings coordinated against the operating calendar, so a delivery date promised in a lease is one the centre can actually meet.
- Coordination between leasing teams and property operations
- Tenant onboarding and store opening coordination
- Lease compliance oversight
- Support for renewals and tenant retention
Tenant & Stakeholder Relations
Tenants in a centre talk to each other. Logging every request and its resolution against both the space and the operator is what keeps that conversation on your side.
- Tenant communication and issue resolution
- Coordination with service providers and contractors
- Stakeholder reporting and operational updates
Acquisitions & Development
Build-outs, façade work and lot reconstruction run through our own general contracting, which removes a layer of markup from every project above the maintenance threshold.
- Acquisition underwriting and operational review
- Development and redevelopment advisory
- Operational setup for new or repositioned centres
- Stabilization planning and ongoing management integration
The HHP advantage for retail
Common area maintained, not just budgeted
Lot, lighting, landscaping and janitorial are performed by our own personnel. Condition becomes a scheduling decision rather than a vendor availability problem, and the cost reports as labor and materials.
Operations aligned to tenant performance
A tenant struggling on occupancy cost is a leasing problem twelve months early. Because operations and reporting sit in the same firm, that signal reaches the leasing conversation while it is still actionable.
CAM without the year-end surprise
Recoverable and non-recoverable spend reconciled through the year rather than at true-up, so neither the owner nor the tenant is arguing about a number that is already twelve months old.
Cost visible at the line item
No subcontractor markup on self-performed work, and specialty vendors engaged only where licensing requires it. An owner can see what a repair cost rather than what it was billed at.
One firm accountable
Property management, the trades and the accounting report into the same principal, so a lighting failure and its cost are answered by the same people.
The centres we take on
Lot, lighting, landscaping and janitorial are performed by our own personnel, so common-area condition is a scheduling decision rather than a vendor’s queue. That shapes the centres we want. Here is what we look for.
- A centre where common-area condition is a solvable problem rather than a deferred capital event
- A rent roll we can read against tenant occupancy cost, not only against market rent
- Co-tenancy and exclusivity language we can review before closing
- Proximity to our Tulsa and Oklahoma City personnel, so lot, lighting and janitorial are ours rather than dispatched
Tell us about the centre
Send us the rent roll, the CAM reconciliation and a walk of the lot. We will tell you what we think it costs to run, and what we would fix first.