FEATURE ARTICLE, DECEMBER 2005

RBI SCORES RESULTS OUTSIDE OF ARIZONA
Arizona brokerage firm brings successful model to Southern California.
Anastasia Parsons

With a foundation of 10 years in the Arizona retail market, a new affiliate recently opened in Riverside, California, and an honor of Accredited Management Organization issued by the Institute of Real Estate Management (IREM), Phoenix's Retail Brokers, Inc., better known as RBI, will close out 2005 with a few new notches in its belt.

An all-encompassing brokerage firm whose organizational goal is to achieve the retail goals of its customers, RBI has been defining its own convention of service for Arizona and the southwestern United States since 1995. Its formula of partnering established broker relationships with in-house retail expertise is evidenced by the range of client services it provides — from retail leasing and tenant representation to investment sales and management services at local, regional and national levels.

Bowman

It's this combination that will help RBI's Arizona hub complete more than 500 retail leases, totaling approximately 1.4 million square feet, and garner 200 retail listings and 75 shopping center transactions by year's end, thereby topping their 2004 numbers of 400 retail leases totaling more than 1 million square feet. The organization's freshman component in the Inland Empire's Riverside market is bolstering the brand with the goals put forth upon its launch in March 2005.

A member of the International Council of Shopping Centers (ICSC) and the exclusive Arizona affiliate of Realty Resources — a national retail referral network — RBI built its base in neighborhood and grocery-anchored centers throughout Arizona and the Southwest. Whether a tenant is seeking to lease or purchase, requires a build-to-suit opportunity or is in need of real estate management, the firm prides itself on pairing the specific needs of its clients with the appropriate property. And it's all accomplished with traditional industry — as well as a few high-tech — tools of the trade.

Good ol' grassroots legwork begins the process for RBI. In order to research potential tenants, as well as determine the composition of the markets that surround them, RBI has gained effective results by using the basic cold-calling initiatives of telemarketing and door-to-door canvassing. Collected data is imputed into the organization's electronic database, which includes catalogues of chain tenants at the local, regional and national level, and also has the capability to drill down to smaller organizations, who are only available in one particular area. RBI then works within the specific real estate community to narrow and finalize a client's choices in order to broker a deal. The organization finally assists in generating community interest by installing RBI's distinctive signage at the new center, and by placing advertisements about the property in local and national newspapers and periodicals. Additionally, clients who require services from RBI Management can track the profitability of their real estate investments and operations with Management Reports International software.

Wachsberger

Don Sheckell, senior vice president/designated broker for RBI, points to the rapid growth of the region and the area's demographic similarities to the metro Phoenix market as the primary reasons for expanding into the Inland Empire.

“RBI was confident that its success in Arizona would set the pace for its California location,” says Sheckell. “Retail developments generally follow hot housing markets, which is why Arizona and Southern California have been successful areas [for retail brokers].”

Sheckell

Beyond RBI's traditional neighborhood spaces, the organization is currently exploring other growth opportunities by expanding into the lifestyle center segment. RBI has designated a three-person team within the company — dubbed Team 3 — to represent its portfolio of projects, which includes more than 500,000 square feet of upscale lifestyle, open-air and specialty retail centers. Examples of the group's work include three Chandler, Arizona, properties: The Shops at Pecos Ranch, Canyon Rock and Las Olas.

“RBI believes in controlled, responsible development,” says Sheckell. “We are constantly evaluating and re-evaluating commercial real estate markets across the country, particularly since many of our tenants are nationally recognized. Moving forward, we will certainly continue to provide the best representation possible and if an opportunity is identified in another market, we will explore expansion.”

Looking to the future, RBI points to new retail segments like the lifestyle and specialty centers as well as the pursuit of additional commercial growth regions within the Southwest as its next steps. However, the firm continues to honor the core approach that led it through the past decade.

Bowman concludes, “The combination of our people, our recognized accomplishments and our resources make RBI truly successful with the retail commercial real estate industry.”

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