Thursday, February 1, 2018

John Miller Promoted to Assistant Vice President at NAI Isaac

John Miller, an agent with NAI Isaac has been promoted to Assistant Vice President.  "John has been with us for over 20 years.  He's been involved in the leasing and management of several transitional properties leading to their stabilization within the market.  His expansive knowledge of the intricacies of Commercial Real Estate is an invaluable resource to our company." says Al Isaac, President. 

Miller specializes in the sale and leasing of retail, office and industrial properties.  He has assisted numerous tenants, including regional and national companies with site selection, evaluation and lease negotiation.  He has represented several national companies including the U.S. Postal Service, Rite Aid, K-Mart, and Kroger with sale or sublease dispositions of excess facilities.  He has also assisted several national and international companies with selection of new sites, including Harbor Freight Tools, The UPS Store and Allstate.

Miller's educational background includes Transylvania University and the University of Kentucky.  He is an active member of the International Council of Shopping Centers and is involved in Commercial Property Association of Lexington, NAI Global's Investment Council and other commercial real estate associations and organizations.

How Millennials Are Changing the Retail Economy

Millennials are a diverse group that does not adhere to the shopping patterns of the past. Retailers today have noticed that in order to remain profitable they must adapt to the habits of this young generation. Here are some of the ways the retail economy has transformed form the influence of millennials.
Millennials are enamored with technology, and because of this they are professionals at finding the best deals when shopping. They scour the internet to research prices and promotions offered across the web. They also expect the same bargains online and in-store. This belief, coupled with the spread of smartphone use, has led to an activity known as “showrooming”. This is when a shopper finds an item online but goes to a retailer to see it in-person. Retailers are now trying to adapt to this practice by plugging the ability to touch and see the actual products. They are trying new methods to entice shoppers to their stores like with branded music playlists and other in-store-only shopping experiences.
Millennials do not just use social media to talk about their lives, but also to share their acquisitions from shopping trips. The younger crowd likes to be engaged through social media, so retailers are trying to capitalize on this fact. They encourage people to post photos and reviews using hashtags to promote their stores. This satisfies millennials enjoyment of sharing information while also providing free advertising for brands. Stores are able to receive word of mouth marketing and reach a broader audience as well. Social media is also influencing products in stores. Nordstrom, for example, has been tracking online data to personalize customer experiences. The items that are pinned the most receive a label saying so, letting shoppers know what products are popular. Using this community feedback allows them to display merchandise that best aligns to the wants of the public.
This generation of shoppers also craves convenience. As millennials have grown, technology has made tremendous strides and they want to see continued improvement. The payment experience in particular is an area they wish to simplify. To keep millennial customers it is crucial to utilize self-checkout kiosks and breakthrough digital payment technologies. Their smartphone and other devices can now be used to make purchases, so they no longer have to rely on their wallets. This trend of focusing on user-friendly systems is now seen as the norm by millennials. Starbucks has been winning over customers with their mobile wallets for years, and the apps created by stores have simplified the payment process for consumers, while also providing additional perks. In order for retailers to keep millennial shoppers, they must adapt their checkout technology to appeal to customers’ sensibilities. This generation will not settle for outdated practices, and they would rather shop at places that cater to their needs.

At NAI Isaac, we provide an extensive range of commercial real estate services. We use our unparalleled expertise to handle every facet of commercial real estate. We are located in Lexington, KY and proudly serve the surrounding area. Contact us today to discuss your real estate options.

Wednesday, January 31, 2018

Paul Ray Smith, Executive Vice President, Recognized for Thirty Years of Service at NAI Isaac

Paul Ray Smith, Executive Vice President of NAI Isaac, recently received recognition for his 30 years of service with NAI Isaac.  Smith joined the company as a leasing/sales associate in March 1987.  "Paul Ray has been an integral part of NAI Isaac's growth and productivity.  His experience and knowledge of Kentucky Commercial Real Estate has played a key role in our success throughout the years", says Al Isaac, President.

Smith has extensive experience and market knowledge in the leasing, sales and management of office, retail and industrial projects, including a strong track record of Landlord and Tenant Representation.  During his tenure with the company, Smith has assisted numerous local, regional and national tenants with site selection, evaluation and lease negotiation for multiple locations throughout Kentucky.  

Smith is an active member of the International Council of Shopping Centers (ICSC), NAI's Retail Council and other commercial real estate associations and organizations.  He and his wife reside in Lexington, Kentucky with their three sons.