Robert Adinolfi, Chief Operating Officer, highlights Renaissance Properties’ role in an emerging market trend.
OLD BRIDGE, NJ – In a somewhat counterintuitive shift within the commercial market, Renaissance Properties facilitates the extension of successful online businesses growing from “click and order” to “brick and mortar.” Chief Operating Officer Robert Adinolfi sheds light on the company’s role in this unique and potentially transformative trend, emphasizing its impact on revitalizing commercial spaces and fostering entrepreneurial spirit.
“Over the past several years, the industry saw many traditional, big box retailers become extinct due to their inability to successfully embrace online sales, leaving large vacant spaces,” explains Adinolfi. “Though many of those big box retail spaces remain vacant and a challenge for landlords to fill, we are now seeing a burgeoning trend of smaller businesses which started online and built a strong customer base looking for ‘brick and mortar’ spaces in our centers to enhance their presence and provide a more tactile and personal experience for their customers.”
Adinolfi highlights examples like Jenna Rose’s Boutique in the Renaissance at Old Bridge center and Come What Mae in the Shops at Equestra center in Howell as prime illustrations of this trend. These businesses not only enrich the commercial landscape but also attract pedestrian traffic and inject vitality into their respective centers.
Adinolfi notes that this desire for online businesses to supplement their position in the market with physical storefronts, coupled with a growing number of people seeking to be their own boss, is having a positive effect on their portfolio of commercial properties. “The vacancy rates in the centers we market and manage are currently at historic lows,” he says. “There is an entrepreneurial spirit that we’ve seen over the last couple of years with people starting new businesses that has kept our phones ringing and hammers swinging as we ready new and existing spaces to help these owners launch their businesses.”
Highlighting Renaissance Properties’ unique advantages to prospective tenants, Adinolfi underscores the company’s commitment to both market familiarity and effective asset management. “At Renaissance Properties, we work tirelessly to familiarize ourselves with the markets we operate in so we can be a resource for our prospective tenants,” he emphasizes. “Beyond that, our goal is to maintain each center in a manner that both attracts new businesses and inspires existing businesses to elect to remain at our centers.”
Adinolfi elaborates on how the company’s “dual mandate” of informed marketing and effective asset management, distinguishes Renaissance Properties from most transactional brokers. “This allows us to continue to service our tenants long after the lease is signed,” he adds, emphasizing the company’s enduring commitment to client success.
As Renaissance Properties attracts and embraces companies expanding their online presence to include offline retail, it reaffirms its position as a trusted force in shaping the commercial landscape, fostering innovative concepts, and positioning commercial real estate assets for the future.
Renaissance Properties
In its 30+ year history, Renaissance Properties has evolved from a small real estate brokerage company to a multi-faceted, full-service real estate development firm, builder, broker and real estate asset manager. With over 1,200 new homes and well over 1,000,000 square feet of commercial space to its credit including more than 500,000 under active management, Renaissance Properties has established itself as a trusted name in the real estate development and brokerage community. To learn more, visit https://www.renaissanceprop.com.