Beth Azor

Even if you don’t create your center’s budget yourself—you still need to know exactly what to look for. In this episode, I walk you through how I personally review the annual budgets for my shopping centers—despite not preparing them myself. Whether it's spotting weird dips in base rent, double-counting taxes and insurance, or bad timing on capital projects, I’m sharing the real checklist I us...

There’s a 10-page checklist every new owner should have—and most of you don’t even know it exists. When I bought my first shopping center, I had no idea what I didn’t know. Then I met my rockstar property manager, Lori Rosen. Lori ran circles around the rest of us—and she handed me this takeover checklist that completely changed the way I approached new deals. Today, she’s sharing her Forms Book w...

Handing off leasing to a third party? Don’t let them sabotage your NOI. In this episode of I Own a Shopping Center. Now What? , I walk you through my go-to process for selecting and managing third-party leasing brokers—especially if retail isn’t your specialty. After a recent call with multifamily investors entering the mixed-use world, I laid out the exact steps I take to make sure brokers are ve...

Struggling to lease your retail space in a multifamily project? You might be making this common mistake. In Episode 65 of I Own a Shopping Center. Now What? , I share a recent conversation I had with some multifamily investors who were venturing into retail for the first time. Leasing retail—especially on the ground floor of high-rise projects—is a whole different animal, and getting it right star...

It’s budget season—and here’s exactly how I build shopping center budgets from scratch. In Episode 65 of “I Own a Shopping Center. Now What?” , I take you behind the scenes of my step-by-step budgeting process. If you’re an owner preparing budgets between September and October, this episode is for you. I’ll show you how I forecast expenses using actuals, estimate income from leasing activity, and...

What if you could train your leasing team without spending thousands on a coach? In Episode 64 of I Own a Shopping Center. Now What?, Beth Azor shares a powerful, low-cost strategy for improving leasing team performance—using her Retail Leasing Playbook Podcast. While attending ICSC Orlando, Beth spoke with a listener who wanted her to train his team, but she recommended a free, scalable alternati...

Syndication structures are changing—and in this episode, Beth Azor unpacks exactly how. From preferred returns and promotes to unusual LP terms and fee-loaded deals, Beth breaks down the many syndication models she’s encountered—both as an LP and a GP. She shares what she looks for before investing, the red flags that turn her off, and the structure she prefers when raising money herself. Whether...

One bad hire during a renovation can cost you six figures—here’s how to -prevent that. In this episode, Beth Azor shares why hiring a project manager is one of the smartest investments a shopping center owner can make. From avoiding costly delays to managing complex renovations and tenant buildouts, Beth reflects on key lessons from her own experiences—including a $3.5M renovation that finished on...

Imagine buying my first shopping center for $3.5M… and letting $1M in potential value sit vacant. That’s exactly what happened—and it took a no-fluff wake-up call from Beth Azor to make me see the truth every investor needs to hear. In this episode, I unpack my conversation with a doctor-turned-investor who bought a 10-tenant retail property but is frustrated by two vacancies. Despite keeping the...

In this episode, I share a compelling story about how collecting tenant sales data helped me identify a struggling franchise tenant—and how one smart hiring decision turned that failing store into a top performer. I emphasize the importance of staying proactive with your tenants, even if you’re not managing a local property, and why absentee ownership can be a serious red flag. From spotting red f...

In this episode, I share a wild (and very real) lesson on tortious interference - what it means, how I got sued for it, and what every landlord should understand when it comes to transferring leases. From NFL players selling overpriced smoothie shops to doctors trying their hand at burger franchises, I’ve seen my share of risky lease assignments - and learned to trust my instincts. I walk through...

After 30+ years in the business, it takes a lot to surprise me—but this lease clause did just that. In this episode, I share the unique situation that forced me to rethink how I approach use clauses. A tenant with a one-of-a-kind concept insisted on “any lawful retail use” as a condition of the lease. My initial reaction? No way. But what followed was a negotiation that pushed both sides to get cr...

Should you be posting rental rates on sites like Crexi or LoopNet? In this episode, I explain why I don’t—and why you shouldn’t either. A Facebook post from a frustrated agent sparked this conversation, but it revealed a much bigger issue: in retail real estate, rent is never one-size-fits-all. I walk through exactly how I price space in my shopping centers, from tenant type to visibility to squar...

What happens when you’ve got a perfectly good vacancy—but exclusives are tying your hands? In this episode, I walk through one of my current leasing challenges: a second-gen restaurant space that should be a no-brainer to fill... except I’m bound by a long list of tenant exclusives. From chicken and bubble tea to even Middle Eastern food—I’m locked out of nearly every popular restaurant category....

What do you do when a great property refuses to lease up—despite all your best strategies? In this episode, I share the full story of one of the toughest assets in my portfolio: a 24,000 SF strip center right across from Sawgrass Mills Mall that should’ve been a slam dunk. But thanks to poor visibility from outparcels, it sat at 60% occupancy for years. I tried everything—canvassing, broker incent...

Buying a shopping center off-market? It’s not fast. It’s not easy. But if you play the long game—it can be wildly profitable. In this episode, I reveal how she secured multiple off-market deals by doing what most investors won’t: cultivating relationships for years. From befriending a 76-year-old owner (who eventually made her his 50/50 GP partner!) to pulling off a seller-financed deal in under 3...

EV chargers are popping up in shopping centers everywhere, promising “free” money through ancillary income deals—but I say: not so fast. In this episode, I break down the hidden risks of adding EV charging stations, especially when it comes to parking ratios and long-term tenant satisfaction. I explain why I haven’t jumped on the EV charger bandwagon just yet, including the potential loss of valua...

Ever wonder what your leasing broker is really dealing with behind the scenes? In this episode, I give shopping center owners a brutally honest breakdown of what it’s like to be a retail leasing broker - from commission-only paychecks to years of hustling without listings or income. If you're considering hiring a broker (or trying to figure out why yours isn’t delivering), this is a must-liste...

Not all strip centers are created equal - and if you're looking to buy one, you better know what to look for. In this episode, I break down the critical (and often overlooked) details that can make or break your investment. From parking ratios and restaurant tenants to visibility challenges and shifting demographics, Beth shares the exact advice she’s giving in DMs and emails to prospective bu...

We’re always told to be responsive - but can you be too responsive? In this milestone 50th episode, I share when rapid response is a superpower in leasing… and when it actually backfires. From texting prospects on planes to responding to market study calls, she outlines when responsiveness builds trust - and when it trains tenants to abuse it. I also share my policy for returning broker calls, han...

Think your portfolio is too small to call national retailers? Think again. In this episode, I break down down why even small shopping center owners should reach out to national tenants directly. Whether you own one property or 50, the key is to do your homework, know what the retailer needs, and make a compelling case for why your location is the perfect fit. I share practical tips on how to get p...

Sometimes it’s the little details that make the biggest impact. In this episode, I share the small but powerful changes she’s made to lease her shopping center spaces faster. From adding "Text for Info" to her leasing signs to setting up a quasi leasing office inside vacant spaces, I explain how these simple tweaks attract more interest and create opportunities to connect with prospectiv...

ICSC Vegas is fast approaching - but should small shopping center owners actually go? In this episode, I break down whether the biggest retail real estate event of the year is worth the cost and time for investors who own just a few properties. From networking hacks (like who you might meet in a rideshare) to what part of the event is actually valuable (hint: Professional Development Sunday), I sh...

Last week was all about reports - but I left one of the most important off the list: occupancy percentage. In this episode, I dive deep into how tracking tenant occupancy costs not only helps you price rent with confidence, but also helps you spot trouble early, negotiate smarter, and even defend higher valuations with lenders and buyers. I share how I’ve used this data to justify rent increases,...

Everyone talks about sales and rent, but what reports do top shopping center owners actually use to run their properties? In this episode, I share the five essential reports she relies on to manage everything from lease renewals to rent increases, refinancing, and even delinquencies. From sales performance to occupancy costs, rent rolls to renewal timelines - I break down how these reports help he...