You have a long-term vacant commercial space. How can you revamp your marketing strategy to attract tenants?
Facing a long-term vacancy in your commercial space? Revamping your marketing strategy can make all the difference. Here's how to breathe new life into your approach:
How have you successfully marketed a vacant space? Share your insights.
You have a long-term vacant commercial space. How can you revamp your marketing strategy to attract tenants?
Facing a long-term vacancy in your commercial space? Revamping your marketing strategy can make all the difference. Here's how to breathe new life into your approach:
How have you successfully marketed a vacant space? Share your insights.
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✅ As a landlord trying to lease CRE, the first question to always ask is what does my immediate catchment population need or want and make a list of prospect tenant/brands that can fulfill that. A short document outlining the demographic potential can then be marketed to a targeted list of prospects through various marketing mediums.
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Evaluate the space itself. Is it in good condition? Is the building attractive? Will it attract new potential tenants or generate interest? If not let'a figure out what to change? Ask project managers or designers. It may need a reception refurbishment or just a demonstration of the fit-out level. Check your asking rent level too! Does it meet the market standard or tenants' expectations!?
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I think making improvements will have an impact to newer tenants as per their requirements. If the commercial space is vacant maybe the near by spaces are better in terms of amenities. Add modern amenities. New Lighting. Painting. These improvements will help land a new tenant for a longer term.
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Landlords need to evaluate the vacant space in terms of demographics, location, and calling price before proceeding to develop the Marketing strategy. Working with the real estate agent and offering them a good package of incentives such as an attractive commission will be a helpful option. From the real estate agents landlords can gather market information to match the package offer to potential prospects. The real estate agent also can help landlords to determine potential business profiles that suit the vacant space.
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To attract tenants to a long-term vacant commercial space, revamp your marketing strategy by emphasizing flexibility and modernity. Highlight the space’s adaptability to various business needs, such as co-working options or custom layouts. Invest in high-quality visuals—virtual tours, 3D renderings, and drone footage—to showcase its potential. Utilize targeted digital marketing, focusing on industries or businesses that align with the space's features. Offering incentives like rent discounts or flexible lease terms can also attract interest. Lastly, engage local communities or business networks to increase visibility and generate leads.
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