What does it take to win a competitive retail LOI today?

Retail leases are moving fast again, and in East Tennessee, they are moving faster than most people think is possible.

Chris Ressa talks with Lindsey Barden, founder of Dark Horse CRE, a tenant-rep-only broker covering Knoxville, Chattanooga, and the Tri-Cities. Her view from the ground is simple: vacancy is extremely low, the best spaces trade off-market, and retailers are routinely battling multiple LOIs for the same box. In the past six months, Lindsey says 80-to-90 percent of her deals have been competitive, forcing brands to show up ready to commit, pay closer to asking, and cut through internal red tape.

Landlords are prioritizing certainty and speed, especially in second-generation space. The tenants winning deals are the ones asking for less work and fewer dollars from ownership, tightening timelines, and moving from “perfect protections” to more balanced lease terms.

The proof point is a Crunch Fitness anchor lease that went from discovery to signed lease in roughly two weeks. No traditional LOI. Basic terms handled by email. Architects and contractors brought in immediately. Approvals happening across time zones. A two-level layout that required creative planning, not a cookie-cutter prototype. Two motivated parties decided the deal mattered, and executed like it.

If you want a takeaway: stop treating leasing like a slow process. Treat it like a race. Speed wins.

What You’ll Hear

1. Why East Tennessee is one of the tightest retail markets in the country — and what low vacancy really means for tenants trying to expand.
2. What 80 to 90 percent competitive deal flow looks like in practice — multiple LOIs, limited second-generation space, and constant off-market conversations.
3. How landlords are prioritizing certainty over creativity — why minimal TI, faster approvals, and fewer contingencies are winning deals.
4. What retailers must change internally to compete — consolidating corporate review, accelerating decision-making, and committing earlier.
5. How a Crunch Fitness anchor lease went from tour to signed in 14 days — no traditional LOI, creative problem solving on a two-level box, and approvals happening across time zones.
6. Why speed is the ultimate differentiator in today’s leasing environment — and how motivated parties can compress timelines dramatically.
7. A thoughtful look at retail saturation vs. market expansion — coffee, chicken, gyms, and how to separate durable concepts from passing trends.
8. The mindset shift required to win in 2026 retail real estate — treat leasing less like a negotiation marathon and more like a sprint.

Chapters

00:00 – Meet Lindsey Barden

A 20-year tenant rep veteran shares her journey from Virginia brokerage to founding Dark Horse CRE in East Tennessee.

08:15 – Why East Tennessee Is So Competitive

Lindsey breaks down Knoxville’s low vacancy, off-market deals, and why most spaces now trade with multiple LOIs.

12:00 – Retailers Must Move Faster

Corporate approval timelines are shrinking as brands realize that hesitation means losing the deal.

16:05 – What Landlords Want Right Now

Minimal TI, fewer contingencies, and faster rent commencement are outweighing bells and whistles in lease negotiations.

25:45 – Are We Over-Retailed?

Coffee, chicken, and gyms spark a debate about saturation versus untapped market share.

33:50 – Trends vs. Durable Concepts

A discussion on fads, long-term winners, and how evolving brands survive shifting consumer demand.

38:10 – The 14-Day Anchor Deal

A Crunch Fitness lease goes from tour to signed in just two weeks through speed, creativity, and alignment.

41:30 – No LOI, Just Execution

Basic terms handled by email and architects brought in immediately compress what normally takes months.

44:00 – The Power of Two Motivated Parties

Why urgency and shared intent—not secrets—made the accelerated deal possible.

45:15 – Final Takeaway: Speed Wins

Retail leasing is no longer a slow grind; the brands that move decisively are winning the best spaces.