Going Above & Beyond, for Scrubs and Beyond
Needed flexibility and the right location.
THE
CHALLENGE
Healthcare apparel industry retailer Scrubs and Beyond was seeking a second location
in Central Arkansas. They approached Roger Cole of The Ashley Group with a clear goal and several essential yet challenging specifications.
Knowing they needed to find a shopping center with the right product mix, the specialty retailer sought to co-locate with select complimentary tenants. Capital constraints meant
they also needed to find a property with a landlord that would fund a significant amount
of tenant finish costs as well as be willing to structure the lease to optimize cash flow
during the early years of their lease agreement.
The team at Scrubs and Beyond already had a target area in mind. However, the selected area did not have much availability or a space that was also home to their desired co-tenants.
THE
ACTION
With Scrub and Beyond’s tenant mix and cash flow requirements guiding his search, Roger identified three potential sites for consideration. Prior to presenting the properties
to Scrubs and Beyond and scheduling site visits, he informed each landlord of the tenant’s requirements.
After touring the market and each of the properties, Scrubs and Beyond selected a location. Despite having been informed of the tenant’s needs before agreeing to show
the property, the landlord of the selected location decided that he was unwilling to fund
the necessary tenant improvements.
With the clock ticking, Roger got back to work on finding an alternate location. Within
one week, he found a new site in the desired target market with the right product mix.
Following a tour of the property with the tenant, he set up a conference call with the landlord and successfully negotiated a creative solution to meet all of the tenant’s needs
including cash flow, improvements, signage, and more.
THE
RESULT
Roger Cole:
● Sourced an excellent location with the right product mix in a tight market
● Successfully negotiated the lease for the specialty retailer’s new 3,000 SF space
● Effectively created a cash flow advantage for Scrubs and Beyond during the
early years of the lease
● Assisted Scrubs and Beyond during the build-out phase by negotiating to use the
landlord’s staff to assist with interior improvements to the space
● Negotiated special accommodations for signage and rent abatement
WHAT SCRUBS AND BEYOND SAYS...
“Being able to feel comfortable that the business will be successful after working with a
flexible landlord made all the difference in our decision to locate our second Scrubs and
Beyond store in Central Arkansas in Lakewood Village Shopping Park”. Furthermore, Frank noted, “Roger put our company’s needs at the forefront at all times which further evidenced that Scrubs and Beyond made the right decision with the Lakewood Village location.”
- Frank Gibson, M.D., Founder and Owner of Scrubs and Beyond