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RETAIL OPERATING PHILOSOPHY



Hanover Property Company pledges to develop and maintain a neighborhood center where tenants and landlord can share in the pride of ownership. Often the shopping center borders one of our master planned residential communities. Hanover targets users who provide professional and personal services for these smaller retail developments. The shopping center provides a building for tenants who require less floor space but need significant retail exposure. By addressing this specific role in retail development, Hanover helps provide smaller, quality tenants the opportunity to offer their services in a professionally managed and strategically located environment.

The Hanover development team includes an architectural group that is contracted to design and oversee the construction of the building. An engineering firm is retained to prepare construction documents and obtain approvals from local city government. The job of constructing the building and surrounding parking lot is sub-contracted to a general contractor who is chosen based on previous work experience and project specification bid cost. Leasing of the center is a combination of Hanover's efforts and the brokerage community. The objective of the development is to complete the project within budget and according to the time schedule promised the tenants.
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Builders in a Hanover development can be assured of fast inventory turns, due to the high perceived value of a master-planned neighborhood.