GlobeSt.com: Where does the center's main competition come into play?

Beale: Understanding the other options shoppers have in the area can help landlords bring in retailers that make their center stand out. Malls close to each other will compete for customers, and having identical stores lowers the probability that either will be chosen.

Nearby big-box giants could sway the competition in their favor. Filling a shopping center several miles from a Target with department stores would set up the landlord for failure. Make sure you are best in the market. You need to know who you are competing against. (Find out why some retailers are thriving despite Amazon's growing influence.)

GlobeSt.com: Where does the mix between the center's and the retailer's target market fit into the equation?

Beale: As shopping centers struggle to attract shoppers, particularly Millennials who have abandoned the former watering holes of their parents for online shopping, landlords must carefully compare the demographics around their property with the target market of the prospective retailer.

At the Baldwin Park Village Center in Orlando, Florida, Franklin Street's leasing team has brought in 13 new retailers and restaurants since taking over leasing in May 2016. Most are new-to-market concepts and boutique stores that offer family-friendly options for residents and serve as a destination for those living outside the upscale Baldwin Park community.

Open-air shopping center landlords have increasingly tapped into the large and affluent demographic living in Baldwin Park, a population that enjoys one of the highest average household incomes of any neighborhood in Orange County. The stores include Tactical Brewing Co., a new microbrewery, and Manny's Original Chophouse, a steakhouse chain known for its road trip-themed décor.

ATLANTA—A recent Credit Suisse report signaled tough times ahead for America's malls. Twenty percent 25% are predicted to close by 2022.

As the number of shopping centers shrinks nationally, landlords have had to scrutinize the retail tenants that fill their properties, according to Cary Beale, senior vice president of Retail Agency Leasing at Franklin Street.

As Beale sees it, no longer subscribed to the “shop until you drop” mentality, consumers are traveling farther and less frequently to high-end shopping centers that combine attractive stores with entertainment experiences. Landlords have to be more selective and more proactive. If landlords are not being proactive, the center is going to fail.

GlobeSt.com caught up with Beale to ask him two essential questions landlords need to consider when looking at a retailer for a shopping center in part one of this exclusive interview. Stay tuned for part two, in which he will discuss three more essential questions.

GlobeSt.com: Where does the center's main competition come into play?

Beale: Understanding the other options shoppers have in the area can help landlords bring in retailers that make their center stand out. Malls close to each other will compete for customers, and having identical stores lowers the probability that either will be chosen.

Nearby big-box giants could sway the competition in their favor. Filling a shopping center several miles from a Target with department stores would set up the landlord for failure. Make sure you are best in the market. You need to know who you are competing against. (Find out why some retailers are thriving despite Amazon's growing influence.)

GlobeSt.com: Where does the mix between the center's and the retailer's target market fit into the equation?

Beale: As shopping centers struggle to attract shoppers, particularly Millennials who have abandoned the former watering holes of their parents for online shopping, landlords must carefully compare the demographics around their property with the target market of the prospective retailer.

At the Baldwin Park Village Center in Orlando, Florida, Franklin Street's leasing team has brought in 13 new retailers and restaurants since taking over leasing in May 2016. Most are new-to-market concepts and boutique stores that offer family-friendly options for residents and serve as a destination for those living outside the upscale Baldwin Park community.

Open-air shopping center landlords have increasingly tapped into the large and affluent demographic living in Baldwin Park, a population that enjoys one of the highest average household incomes of any neighborhood in Orange County. The stores include Tactical Brewing Co., a new microbrewery, and Manny's Original Chophouse, a steakhouse chain known for its road trip-themed décor.