Marketing is Everything; Marketing Vacant Spaces

In Uncategorized by Shannon Alter1 Comment

Picture this: you´re a prospective tenant looking for space in a large regional mall.  While you´re  waiting for the leasing agent, you decide to walk around to get a sense of the mall. Your first impression is that it´s very quiet and very vacant-there seem to be few shoppers, and many dark spaces. As you stroll around, you see that several retailers have gone out, however their old store signs remain, and the store windows are half-covered with torn brown butcher paper. In fact, not much seems to be going on at all.  Having second thought about leasing space here? You betcha!

No matter what your property type (or budget) is, marketing is everything. Don´t let your vacant spaces take a back seat. Here are a few easy ways to make sure your vacancies are in tip-top shape:

Check your curb appeal: First impressions really do count! Try to view your property through a prospective tenant´s eye: are spaces sparkling clean and show-ready, or are there obvious unpatched holes, stained ceiling tiles and unsightly restrooms?

Check with your owner: Before you bring out the checkbook, talk with your owner. Not all owners will want to spend the money to redo a space after a tenant vacates. The theory is that a new user may want to reconfigure the space anyway.

Check your strategy: Even if your owner doesn´t want to spend a lot of money, consider an overall strategy for your vacancies. Consistency is important-if you want to conceal vacancies, for example, decide whether you want to leave windows free and uncluttered, or whether blackening them out is the better option.

Stay tuned for more ideas on how to use and merchandise your vacancies!

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