Watertown City Council to Consider $135,000 Retail Recruitment Agreement
Northeast Radio SD News – Watertown, SD - The Watertown City Council will consider approving a three-year partnership agreement with Retail Strategies during its regular meeting on Monday, Nov. 2, 2026.
According to the agenda item submitted, the proposed agreement carries an annual investment of $45,000 per year for three years, totaling $135,000 over the life of the contract. If approved, the firm will assist the city with retail recruitment, covering market analysis, site assessment, recruitment strategy, and community representation.
Market Analysis and On-Site Assessment
The recruitment proposal, dated Aug. 6, 2026, and prepared by Associate of Community Partnerships Banks Perry, outlines a multi-stage discovery and recruitment process for Watertown.
The initial market analysis phase utilizes Kalibrate data and cell phone mobility intelligence to define Watertown’s consumer trade area, track where shoppers live and work, and evaluate consumer buying power. The analysis also includes peer market comparisons, retail leakage, and demand assessments to identify needed business categories, consumer expenditure profiles, and psychographic segmentation.
Within the first 60 days of the partnership, Retail Strategies will visit Watertown to conduct its first annual “REcon Day.” xDuring the visit, the team will complete four core tasks:
· Market Tour: Catalog viable retail sites, shopping centers, land, and key vacancies across the city.
· Retail 101 Session: Host an open community meeting to discuss retail development timelines and how retailers evaluate the market.
· Stakeholders Meeting: Meet with local property owners, business owners, and elected officials to discuss market challenges and community opportunities.
· Familiarization Tour: Tour the community to evaluate local assets alongside desktop data.
The firm returns to the community annually to update its real estate analysis and meet with local stakeholders.
Recruitment Strategy and Retailer Outreach
Following the discovery process, Retail Strategies will compile a 50-plus-page Retail Recruitment Plan and Strategy for the city. The document includes a corridor and site-specific SWOT analysis accounting for potential national retail sites in the market, regardless of whether a property is currently listed for sale or lease. The firm will also produce condensed marketing guides featuring market data and real estate facts for the city to post online or distribute to prospective businesses.
Under the agreement, Retail Strategies commits to having a minimum of 30 retailers or developers perform due diligence on the Watertown market annually. The firm handles targeted outreach to prospective retailers, brokers, developers, and potential franchisees across dining, grocery, entertainment, hospitality, and general retail sectors.
When matching prospects to specific Watertown properties, the team prepares site due diligence packages, connects retailers and tenant representatives with local property owners, and provides incentive consulting on an as-needed basis.
Reporting and Trade Show Representation
The partnership includes ongoing representation and reporting deliverables for city officials:
· Quarterly Business Reviews: Delivered 30 days after the close of each quarter, providing retailer-specific and site-specific recruitment notes.
· Real-Time Tracking: Ongoing updates provided through the Basecamp communications platform or via email, with redacted and unredacted reporting options for public or private review.
· Conference Representation: Active promotion of Watertown at national and regional International Council of Shopping Centers (ICSC) conventions and selected Retail Live! trade shows.
· Promotion Support: Assistance drafting press releases and coordinating grand opening events for businesses recruited to the market.
Founded in 2013, Retail Strategies employs more than 65 full-time professionals, including more than 40 team members with active real estate licenses. The firm lists Harrisburg, S.D., among its regional client references.
