Industry Veteran Ehrhart Makes it Official in Launching Woman-Owned Retail Advisory FirmMarch 27, 2023
BOSTON — Featured in December’s Real Reporter digital issue, forecasting the 2023 retail industry, the veteran Ann Ehrhart made an ‘official’ announcement that she has launched EVERSTREET, a woman-owned retail real estate advisory group. EVERSTREET helps clients navigate and thrive in a retail environment undergoing a massive sea change by trading conventional brokerage for a Strategic Planning & Activation services model, according to a release.
Ehrhart brings nearly two decades of experience to the new firm, having gained recognition for her leadership skills and her ability to handle complex, multi-million dollar retail leasing assignments. The inspiration for EVERSTREET was fueled by the recognition that landlords and tenants alike are hungry for a new approach when it comes to increasing revenue in mixed-use retail.
“Developers and owners of mixed-use properties are recognizing that retail is changing and that the people choosing to live in their apartments and occupy space in their labs and office buildings want a unique, local mix of retail and restaurant operators that are truly diverse – i.e., minority and women-owned businesses,” says Ehrhart. “EVERSTREET is creating places for everyone.”
The pandemic and sweeping social change have irrevocably changed what consumers want from their retail and restaurant experiences. Ehrhart referred to a recent study reporting that roughly 51% of Gen Z’ers – who now make up 40% of global consumers – make a point of supporting small, local businesses, and more than 75% of Gen Z’ers and millennials surveyed indicated that they would end a relationship with a company because of lack of diversity. And despite comprising just over 50% of the population, women account for 70-80% of all consumer purchases. As the target demographic shifts and consumer behaviors change, the model for curating and facilitating a retail experience for buildings and communities must adapt, and EVERSTREET has developed a fresh approach to that process.
“Delivering a product that creates value before, during, and after the lease transaction enables EVERSTREET to tackle a wider array of challenges and serve a wider audience,” said Ehrhart. “This includes engagements with groups who are looking for a retail advisor, but who may not ultimately need a transaction, a la a brokerage arrangement. For example, master planning and downtown revitalization projects at the municipal level, or even assessing ways to boost, in place, underperforming retail concepts.”
According to Ehrhart, The company’s strategy combines the time-tested fundamentals of retail planning, leasing, and activation with a forward-thinking approach designed to meet the evolving retail environment. EVERSTREET looks to accomplish this by partnering with developers of ground-up and repositioning projects during the planning phase to attract and build community support, then creating a retail business plan that positions clients for success by syncing the design, merchandising, and pro-forma with the location. In the activation phase, the firm executes the business plan through tenant selection, deal structuring that focuses on long-term viability, and post-leasing services to minimize build-out headaches and facilitate a smooth path to opening and stabilization.Ann Ehrhart