This Retail Market Assessment and Repositioning Strategy has been created to assist property owners in attracting national and regional tenants to Downtown, with the objective of increasing occupancy, rent revenues and property values. Attracting credit tenants is a key factor in creating a better Downtown, and thus improving both the quality of life for the residents of the City of Monterey, as well as tourists’ and visitors’ overall experience.
Having national credit tenants will help the local independent Downtown tenants to be more successful as well. The Retail Market Assessment and Repositioning Strategy is the first step in the creation of a comprehensive leasing strategy for Downtown Monterey. In addition to this Assessment, the leasing strategy should include a Downtown “Vision” Master Plan and Implementation Strategy.