Beth Azor

In Episode 71 of I Own A Shopping Center. Now What?, Beth Azor shares a powerful lesson from the field: when brokers and cold calls fall flat, in-person canvassing still wins.

After consulting for a client struggling to lease retail space in a mixed-use development, Beth flew in, walked the neighborhood, and landed a showing—all within two hours. In this episode, she breaks down why canvassing is still critical, even after 30+ years in the business, and how brokers who avoid it may be costing their clients deals.

This isn’t theory—it’s real-world advice from someone who’s still in the trenches. Beth reveals her go-to steps for getting results fast, how to identify myths and misinformation in a market, and why walking the block gives landlords a competitive edge.

🔑 Key Takeaways 

• Walk the property before canvassing.
• Use face-to-face canvassing for deeper insights.
• Don’t rely solely on cold calls or broker reports.
• Talk directly to business owners, not just reps.
• Canvassing exposes neighborhood misinformation.
• Vacant space hurts everyone—fill it fast.
• Encourage local brokers to walk the market weekly.
• Neighborhood alliances can improve property appeal.
• A strong presence leads to quicker lease activity.

Whether you're working with brokers or leasing yourself, this episode will help you revive a dead listing and protect your NOI.

BECOME A COMMERCIAL REAL ESTATE ROCKSTAR: 

https://www.bethazor.com/

https://www.azoracademy.com/

For more commercial real estate training: https://www.bethazor.com/training/

If you're handing off your leasing to a third-party broker, don’t assume they’ll just get the job done—you have to manage the process like a boss.

In this episode of I Own a Shopping Center. Now What?, I walk you through exactly how I coach multifamily and mixed-use owners on hiring the right retail broker. After a recent call with some friends trying to lease their ground-floor retail, I realized how many owners hand it off with zero oversight—and then wonder why the space is still vacant months later.

I break down my full checklist for interviewing, setting expectations, and, yes—firing brokers who ghost you or just don’t deliver. If you're not a retail expert, that’s okay. But you do need a system. And this episode gives it to you.

Key Takeaways:

✔️ Interview 3–5 third-party brokerage firms
✔️ Always set clear expectations in writing
✔️ Require weekly updates and activity reports
✔️ Tour competing properties with your brokers
✔️ Don’t be afraid to fire underperformers
✔️ Know your asset better than the broker
✔️ Make sure compensation aligns with performance
✔️ Retail leasing needs retail-focused brokers

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 use to catch costly mistakes before they impact NOI.This episode is perfect for shopping center owners, asset managers, or anyone handing budget prep to a CPA or property manager. Don’t miss my tips for tracking leasing fees, mortgage escrows, and cash flow month by month—and why I never schedule capital work during rainy season in Florida.🔑 Key Takeaways- Always review income line by line across all months- Check for base rent or recovery dips that don’t make sense- Compare op-ex items across properties by square foot- Watch out for double-counting taxes and insurance- Make sure capital expenses are scheduled during dry months- Avoid paving or painting during key retail seasons- Review CAM, insurance, and RE tax breakdowns per tenant- Flag lease renewals and verify the correct rent bumps- Don’t skip budgeting - even if you’ve never done one before

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 with the world, and I still use that same list every single time I take over a property.

Whether you’ve just bought a center or you’re stepping in to take over leasing and management, this checklist is going to keep you sane and organized.

In this episode, I walk you through it all—from utility transfers and vendor audits to HVAC reports and delinquency follow-ups. These are the things you must tackle in those first few weeks if you want a smooth transition. And if you DM me? I’ll send you the actual checklist.

Oh, and one more thing: gentlemen, I know 92% of you listening are men. Do me a favor - bring the women in your life to the Women’s Real Estate Investment Summit. It’s time we get more women in the game.

🔑 Key Takeaways:

• Always use a takeover checklist to streamline transitions

• Audit every vendor and contract within 30–90 days

• Notify tenants immediately and redirect rent collections

• Transfer utilities, insurance, and service accounts right away

• Build lease expiration and insurance compliance reports

• Set up property management systems on day one

• Don’t overlook emergency contacts and lease signage

• Stay ahead of tax and CAM reconciliation deadlines

• Replace outdated leasing signs quickly

• Add new property entities to every tenant’s insurance certificate

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 vetted, expectations are clear, and accountability is non-negotiable.

From requiring them to tour comps, to demanding weekly activity reports, to firing (gracefully) when they underperform, I share the playbook that protects your asset and keeps leasing on track. If you’re new to ground-floor retail—or you’ve had brokers ghost you in the past—this episode gives you the checklist you didn’t even know you needed.

🔑 Key Takeaways

• Interview at least 3–5 brokerage firms before selecting.
• Always put expectations in writing.
• Require regular updates and activity reports.
• Make them tour competitive sites and know the market.
• Be willing to fire underperformers quickly.
• Know your asset better than the broker.
• Align broker compensation with results.
• Mixed-use retail requires retail specialists, not generalists.

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 starts with hiring the right third-party team.

I walk you through exactly how I advised them: how many firms to interview, what expectations to put in writing, and why it's critical to know the market even better than the broker you hire. I also break down why it’s okay—and necessary—to fire leasing agents who aren’t performing. If you’re going to delegate, you still have to manage smartly.

🔑 Key Takeaways

• Understand the default and remedy clauses in your leases

• Evaluate tenant term lengths and credit strength

• Confirm restrictions through in-person intel

• Weigh the upside of breaking outdated lease clauses

• Know your waiver options—some clauses are flexible

• Old leases aren’t always built for modern tenants

• Strategic defaults require informed decision-making

• Invite a woman to my summit—let’s grow this community!

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 plan ahead for those “surprise” costs like security or vacancies.

I break down how to handle vendor increases, project leasing income, and when it’s smart to loop in partners. I also share strategies to help you impress your institutional clients during budget season. And—don’t miss my special invitation to the Women’s Real Estate Investment Summit!

Key Takeaways:

• Use actuals from the first 8–9 months to build your budget

• Spread recurring costs (like landscaping) evenly across 12 months

• Estimate real estate taxes using current TRIM notices plus 10%

• Don’t prompt vendors for increases—budget a standard 10% bump

• Account for vacancies and utilities based on lease-up expectations

• Include leasing income and TIs with detailed assumptions

• Finalize budgets before Thanksgiving, allowing 6–8 weeks to complete

• Send drafts to key partners for feedback if needed

• Unexpected expenses (e.g., security) should be noted in reports

• Remember: institutions often consider switching third-party firms post-budget season

  
  

  BECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor

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 alternative: assigning her podcast as weekly “homework.”Beth walks through how leasing directors can use the podcast to upskill their teams week by week. She explains how this method can spark higher leasing activity, boost rental rates, and increase property value—all without needing to fly her in.Beth also promotes her Women’s Real Estate Investment Summit, encouraging the male-heavy audience to send the women in their lives. With 250+ attendees from multiple asset classes, it’s a prime networking and educational event for female investors.✅ Key Takeaways-Use the Retail Leasing Playbook Podcast as free training for your leasing team-Assign two chapters per week and discuss takeaways in weekly meetings-Implementing this structure can increase leasing activity and rental income-Third-party brokers can benefit from this training too-You don’t need Beth in person—her content is accessible for free-92% of the podcast audience is male, but her summit empowers female investors-The Women’s Real Estate Investment Summit fosters education, networking, and joint venturesBECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor

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 you're a new sponsor or an LP eyeing your next investment, you'll walk away with tactical insight on evaluating and designing win-win syndication deals.

✅ Key Takeaways:

-Preferred returns vary with market conditions-Promotes typically kick in after full LP return

-Sponsors should have skin in the game-Some are raising without preferred returns or promotes

-Fee-heavy structures are common—but not always justifiedLPs want transparency, alignment, and realistic projections

-Creatively structured deals can benefit all parties-Fundraising speed often reflects investor trust.

BECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/

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#commercialrealestateinvesting #retailleasingcoach #bethazor

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 time and under budget. She unpacks when to bring in a PM, what they really do behind the scenes, and why it’s especially critical if you’re managing other people’s money. Whether you're just starting out or leading multiple deals, this is your cheat sheet to smoother construction and smarter asset management.✅ Key Takeaways-You don’t need to be a construction expert to renovate well.-Project managers save time, money, and stress.-Hiring one early prevents major oversights.-Always bring in a PM for tenant buildouts.-Florida’s 40-year inspections demand serious oversight.-Syndicators should never DIY construction management.-Great PMs are worth every penny.-Even small projects can benefit from a PM.