Normally real estate may be about “location, location, location,” but one local real estate team demonstrated that “research, research, research” can be a vital component to winning a new client.

Developer Diversified Realty (DDR), which owns and manages 620 properties worldwide, includes Wilmington’s University Centre and Oleander Shopping Center in its portfolio.

DDR generally contracts with The Shopping Center Group, a large, Atlanta-based real estate company with a Raleigh office for its listing and leasing representation.

In July, DDR signed a one-year leasing agreement with a group from Coldwell Banker Commercial Sun Coast Partners awarding it the exclusive listing/leasing representation rights for University Centre.

Team Silivanch with Coldwell Banker Sun Coast Partners said it is the first time DDR has signed with third-party, local representation in North Carolina. Nicholas Silivanch, a member of the four-person team, hopes this deal may pave the way for similar relationships between DDR and other Coldwell Banker Commercial agencies statewide.

“We had to convince DDR that we could do a better job,” said Nicholas Silivanch. “We gave them what our vision is.” He said the team considered what is currently vacant and what retailers or businesses to attract to the center.

Team Silivanch spent several months researching and creating materials regarding University Centre. Preparation by the team, which consists of Garry and Bernadette Silivanch, their son Nicholas and the broker-in-charge Grayson Powell, led to it landing the exclusive listing for University Centre.

University Centre, which is bordered by South College Road and New Centre Drive, is known as a Power Center, as defined by the International Council of Shopping Centers. A Power Center is one that has several large anchor tenants, which might include large discount centers or other big-name retailers. University Centre’s tenants include Sam’s Club, Lowes Home Improvement, Ross Dress for Less, Staples, Pet Co., Old Navy and Bed, Bath and Beyond.

According to marketing materials, University Centre is a gross lease area of about 517,000 square feet and is the area’s largest power center. There are current vacancies in the space.

Nicholas said he hadn’t handled much retail until January 2009 when Prudential CRES and Coldwell Banker Commercial SCP merged. But Silivanch was no stranger to the real estate business and had worked part-time as a broker’s assistant at Prudential CRES while a student at UNC Wilmington. After graduation, he took a job with Scott A. Redinger Inc. and worked toward attaining his broker’s license. He returned to working with his parents as a full-time broker.

Along the way, Nicholas said that he learned that every business is unique. Silivanch and his dad discussed looking at area shopping centers.

They started with “who owns the major shopping centers and which one is the biggest one in town,” he recounted. Then they studied the center and looked at “What are the issues with the center? Why do shoppers go to certain areas and not to others?”

Along with the research, Nicholas said that it was important to also get DDR to “trust” the group. In doing so, Team Silivanch was willing to work up front to show them what you can do for them.

The team started its work in January – several months before they were invited to give a final presentation.

Although admittedly one key to the team securing DDR as a client was “location, location, location,” they said they also worked hard to impress the DDR representatives.

The foursome did not appear empty-handed and brought marketing material mock-ups to initial meetings to show how the team would represent University Centre.

“I’m ready to go, I’m just waiting for you to assign it to me,” Silivanch said that was his response in one of the earlier meetings when DDR representatives expressed that they were impressed with the amount of legwork the team had done.

“We did multiple presentations – virtual and in-person,” Silivanch said. “We told them we are here and local.” He said the company can respond more quickly to working with and finding tenants for the center.”

Terms of the deal were not disclosed, but Nicholas said the company’s compensation is tied to occupancy. “We are ambitiously looking for tenants.”

Silivanch said he sees University Centre as “first in its class for a shopping center in Wilmington.” He cites the daily traffic statistics (79,000 pass along College and 54,000 pass along New Centre) as a major strength for the center.

When asked if he had any upcoming commercial real estate ideas to tackle, Silivanch, who received the first NCAR Rising Star Award for 2010 from the Wilmington Regional Association for Realtors, laughed and said, “The moon.”