Vacant shops can be a real drag on shopping centre performance and retail sales for shopping centre managers and marketing managers. Strategies are needed to boost customer interest and repeat visits to the shopping centre, and you can work with those factors.
In the commercial real estate podcast today, we share ideas about finding tenants and placing them into your retail property with timely effectiveness.
Things to Watch in Leasing
Keep a close eye on upcoming vacancies and tenant movements and solve those problems early. Leases coming to an end will also be a factor to manage through. Think about these things:
- A leasing procedure can streamline your tenant negotiations with tenants and with the landlord
- You can evaluate the market conditions regularly so you are meeting market rent conditions
- A course of action to apply to targeted tenants will likely reduce vacancy downtime
- A methodology of leasing can be shaped with the landlord agreed to rents, incentives, lease terms, and marketing campaigns
- You can measure marketing results with your vacancy activities and known
Any current or upcoming shop vacancy in a tenant mix should be resolved quickly and directly through targeted leasing campaigns and the sourcing of new tenants.
It is important that the customers to the property do not feel that there is an issue in occupancy and retail offering. Customers cannot be allowed to see excessive vacancies in retail property.
Comprehensive Leasing Solutions
Real and effective strategies are required to ensure that the tenancy mix in a shopping centre works in a comprehensive way for both customers and the landlord.
From property to property, strategies and issues will always vary so be open to the variables of property occupancy, merchandising, and marketing. There are plenty of things to do in finding new tenants to boost shopper interest.
Know the Shopping Centre Scope and Targets
Understand what works in shopping centre sales, customer visits, and know how to make that growth happen more effectively with tenants and customer-based solutions.
Retail sales are a strange equation requiring constant care and attention to detail from beginning to end. That is the job of the shopping centre manager or marketing manager. Strategies give you control.
Listen to the podcast below today and take steps to build your retail shopping centre leasing strategy early in your client service model of management and leasing.
What can you do with that? Reduce vacancies and thereby improve rental recoveries in a timely way. That can then help you optimize the property performance financially and physically.