When you are leasing a shopping centre and solving vacancy problems, the tenant mix should be optimized with the right tenants in the right locations. It is not just about finding one tenant for one location. It is about taking a ‘global perspective’ for the property and the ultimate retail targets that you are trying to optimize.
Have you ever seen a retail shopping centre where the tenant mix is random and neglected? It happens all too often and it is easy to see. It is usually the result of a landlord and or property manager that is not leasing premises to benchmarks and strategic plans. You can do better and be better than the competition when it comes to leasing retail property and shopping centres.
You can say that leasing vacancies in shopping centres today, is an essential service and ongoing activity. How many retail shopping centres are in your location? Consider all types and sizes from the smallest neighbourhood centre right through to the high-quality regional retail properties. They all have vacancies and they all need specialist retail property leasing agents. You can be that person.
Kick-Start Course for Commercial Agents
With this Commercial Real Estate Agent Course, there are plenty of ideas and strategies that you can learn about and implement. The focus here is to help you get more systems into your real estate day so you can find the new business that you are looking for.
Most agents struggle in doing the right things regularly in their real estate business. The ‘random’ approach in commercial real estate is then a struggle. With a bit of organization and directed activity, you can find more new business and listings to work on. You know that the real estate business is out there, and you want more of it. These days, the definition of success in commercial real estate is centred on exclusively held listing stock and a pipeline of clients that you can talk to and serve in many ways. That is what the course will help you with.
The course should appeal to both new agents, and those that are struggling with progress and want more results from what they are doing. Create your customer list and have them call YOU when they want to move ahead in sales, buying, and leasing activity. The course is comprehensive and requires no other resources; use it to grow your real estate business faster in this changing property market.
Check out the full Course Curriculum, the videos, audio, charts and resources. We can help you solve your real estate growth plan with more momentum and daily work strategies on the things that matter.
What can you do here? The shopping centre should have a Business Plan, as well as a Tenant Retention Plan and a Strategic Leasing Solution for vacancies throughout the year. Those resources and ‘guideposts’ are created prior to the beginning of a financial year and updated each quarter as the property market and retail shopping indicators change. They are excellent ‘tools of choice’ for the Retail Centre Manager and the Leasing Executive.
Get Our Resources Here for Shopping Centre Management and Leasing
Think Retail Leasing from a Global Location Perspective
So, what is a ‘global perspective’? Think about these things for starters:
- Nearby tenants and the balance of the retail offering
- The presentation of the shop fronts and the attraction to customers
- The clustering of tenants so sales can spread from one tenant type to others nearby
- Understand the strengths and weaknesses of the prevailing tenant mix
- Every vacancy can be a marketing story to be shared through the existing tenants
- Other properties locally or regionally that you must compete against
The ‘big picture’ here is that one vacancy can be a great opportunity for leasing and retail enhancements across the zone of the property in which the vacancy is located. Show the landlord client how you boost retail sales and customer interest through optimizing your tenant choices and decisions.
In this video today, we give you the strategic plan for reviewing a tenant mix and improving it over time.