There are some proven methods for attracting a commercial real estate tenant to your property. One helpful approach is to put yourself in a prospective tenant’s shoes and ask yourself what would make you want to, well – lease from YOU? Here are some suggestions that can be successful:
- A versatile floor plate – A large commercial real estate tenant prefers to have all, or at least the majority of people on one floor. It helps businesses function better. Somewhat obviously, small floor plates apply to small tenants. Design your leases to fit a whole floor occupancy.
- Update the exterior of the building. A building’s external appearance should be current, and coordinate with the look and feel of the surrounding buildings.
- Add to or, improve upon the parking space. Build a covered parking area. If a certain rate is charged to park, consider lowering the rates.
- Advertise your property in local ads – online, on bulletin boards and or, newspapers. Mention all updates or renovations made to the property.
- Hire a reputable property manager to find tenants and keep your property occupied for the long-term.
- Name your property. Naming a property helps the public identify with its purpose and place in the market. This is essential to branding the property, which can greatly increase its worth in the eyes of your commercial real estate tenant.
- Frequent building maintenance, such as landscaping and janitorial services.
- Offer move-in specials. A commercial real estate tenant tends to occupy a space for long periods. This will save them money on the short-term and benefit you with long-term financial rewards.
- Add an employee meeting hall or space.
- Increase security. Security features can include alarm systems, key-code gates, and shutters can help increase your property value.
If you’ve tried some of these, or you have no set plans to attract a commercial real estate tenant to your property yet, consider contacting Menlo for advisement.