Every successful store, restaurant, supermarket, or any kind of retail business starts with choosing a strong location. Finding the right mix of size, accessibility, utility, and rent is key. Latitude Commercial, a full-service commercial real estate brokerage, understands this and employs a team of expert retail brokers who specialize in handling the needs of those businesses looking to open shop in Northwest Indiana and the South Chicago Suburbs.
Latitude’s team boasts comprehensive knowledge of the market as well as a large network of local contacts that allows them to execute strategies, find properties, and make deals that produce the best possible results for clients. For Latitude’s brokers, there is no such thing as sitting around and waiting for the perfect deal – they go out and find it.
“I think the thing that separates us is that we’re proactive instead of reactive,” said Myles Rapchak, principal and vice president at Latitude. “A lot of people in the industry may wait for calls to come in, but we’re not like that. We make the calls, we find the leads, and that’s the biggest difference maker in the real estate industry.”
This year marks Latitude’s 15th anniversary, and over that time its brokers have closed deals on every kind of retail business in communities across the Region.
“We know the developers in the area, we know the landlords, we know the Chicago brokers who have tenants looking in this market,” said Brett McDermott, Latitude’s co-founder and senior vice president. “We know the properties that are coming available before they even hit the market. We’re one step ahead of the competition thanks to those relationships and knowing what kind of tenants make sense for those properties.”
Those years of experience in the market have also helped the team establish a thorough understanding of the retailer's financial needs. They excel at finding properties that fit each client’s individual needs, and leverage their knowledge, experience, and connections to close deals – often below asking rents.
“We never come to the negotiating table without being equipped with knowledge,” Rapchak said. “We always know what a property’s neighbors have sold or leased for; we know if the owner is asking over market rate. It comes down to knowing the market in and out.”
Latitude explores any and all vacancies and developments, using graphics, demographic data, mapping software, aerial images, and more to analyze properties and present their clients with as much information as each client desires. Every broker on the team strives to keep their clients up-to-date and informed, even when the news might not be good.
“We pride ourselves on our response time; we get back to every call, every day,” Rapchak said. “We’re always in communication, whether the news is good or bad. We’re honest and loyal – we’re telling the truth either way. Sometimes, there’s not a whole lot going on or progress being made, but that’s the relationship we have with our clients. It’s about honesty and reliability in communication, that’s one thing that separates us from other companies.”
Each broker takes that approach with every client, and they work with clients of all sizes. From national brands looking to establish a foothold in the Region to entrepreneurs opening their family-owned restaurant – Latitude fights for all of them just as hard.
“I really love watching the progress of those mom-and-pop shops,” said John O’Malley, associate broker and member of the retail division. “A lot of people save up their money and then spend it on this dream. They pour all of their work, all of their effort, into fulfilling it. It’s amazing to see that growth, from signing the lease to becoming a successful business.”
To learn more about Latitude Commercial, visit latitudeco.com.
