Federal Realty Investment Trust has launched RevUp, a third-party platform that helps property owners and managers boost nontraditional income-generation opportunities. The new company is led by Mike Kelleher, who has headed the specialty-retail function for Federal Realty since 2008.
Leveraging the expertise of Federal Realty's specialty-leasing division, which has increased ancillary revenue for the trust by some 500 percent over the past 10 years, RevUp helps property owners unlock their assets’ revenue-generating potential while enabling them to keep their focus on leasing as the primary revenue source. Kelleher and his team will share expertise and creative approaches on a third-party basis with property owners and managers that seek to maximize nontraditional revenue opportunities.
Using a proprietary database and employing extensive experience, RevUp pairs retail properties up with marketers and online retailers that seek to reach a brick-and-mortar audience. By identifying partners looking toward pop-ups, seasonal promotions, national launches and temporary brand activations, RevUp creates regional and nationwide campaigns for a variety of creative activations, such as new-product displays and sampling; holiday sponsorships; mobile kiosks; and traveling promotions.
“By increasing the pool of opportunities available, we will be able to connect marketers with multiple locations to execute a promotion versus negotiating in each market and with individual owners,” said Kelleher. “This is a win-win for the property owner and the marketer, who both benefit from scale and the ease of execution that goes with it. Our experience on how to get these deals done and how to make them successful sets the stage for repeat business for both the property owners and the marketers.”
By Brannon Boswell