As a commercial property owner, you should try your best to save an occupancy because it’s a lot cheaper to maintain a current tenant than finding a new one. If you fail to save an occupancy, you’ll probably need to turn to a reliable property management firm to find you a commercial tenant. In other words, if you own one or more commercial properties such as a strip mall, retail center, or a shopping center, you’re likely to have a vacancy at some point in time. Work with your property management company and follow these tips to fill your commercial vacancy quickly:
Enhance Curb Appeal
First of all, pay attention to how your commercial property looks from the outside. If the exterior makes a bad first impression on prospective customers, they may have decided on a hard no even before exploring the property from the inside. Hence, maintain your vacant property in terms of landscaping cleanup or a paint job so it appeals to people.
Search with an Open Mind
When considering the type of businesses that you want to fill the vacancy, proceed with an open mind. It’s true that brick-and-mortar retail is evolving, but by no means is it dying. We recommend playing it smart by considering food, fitness, furniture, fun, and fashion. Fun, food, and fitness often involve in-person consumption, and most consumers are steering away from ordering furniture and fashion through online platforms for various reasons. You may also choose essential businesses like someone from the medical industry to be your tenant.
Attend Local Events
Stay informed about events and attend those that support local business owners and entrepreneurs. When attending such events, try to get to know other professionals and build your network. You may well find your next commercial tenant at these events. Search for business-oriented organizations in your area that organize such events.
Invest In Innovative Marketing Techniques
If you really want to stand out from the competition, look for ways to upgrade your standard flat marketing to a digital masterpiece. For example, you’ll certainly want to leverage drone footage, but go the extra mile and consider using 3D video tours to allow prospects to virtually walk the property.
Commercial Vacancies In Florida, New Jersey, and New York
Commercial real estate is getting tougher and tougher over time. If you’re struggling to fill your commercial availabilities, following the tips explained above should help you quickly find retailers and other prospects looking for spaces. An experienced real estate firm like Milbrook Properties Ltd. can make the process remarkably easier. To find new commercial tenants, contact us today!