Retail investment property is special when it comes to leasing. There are special items to handle in the marketing package if you are a real estate agent.
When leasing and managing a shopping center, creating a marketing package for the lease is a common event. What we can do here is help you with the leasing process and the marketing document.
To begin with, we must say that the leasing of commercial premises is not just about the rent and the area to be leased. A commercial property is an investment not only for the owner but also for the renter. The tenant has a business and the commercial property has to help him do it.
This is where the marketing package has to really drive the opportunity for the tenant. A well-designed marketing package can also be reflected in the design of a brochure or flyer that is distributed to your target market of renters.
Here’s a checklist to help you design a great retail property vacancy marketing package.
- Surface of the premises along with plans
- Detail of the permitted conditioning designs and qualities of finishes and materials to be used
- Rent requested and breakdown of the expenses or expenses that are added to the rent
- Details of the lease term sought and any options available to tenants
- Site plan including parking detail, access roads, and public transportation drop off points.
- Demographics of the local buyer who visits the center and surroundings
- Definition of the commercial area where you get 80% of your trade
- Tenant Mix throughout the property, including plans to and from those locations
- The client has different days of the week.
- Business patterns by type of retailer over 12 months
- Trading patterns by days of the week
- Details of services and amenities available to tenants and customers
- Details of changes and improvements to the property that are known or expected
- Common area details and usage patterns.
- Details of the promotion and marketing of real estate for tenants
- Details of lease signage and layout as applicable to the lease in question
- Details of the anchor tenant and their permanence in the lease.
Wait for the potential tenant in a commercial property to visit your property before making the decision to lease. Any retailer knows that trading varies on different days of the week and will want to check this out for themselves and other tenants.
Since tenants of a commercial property are always talking to each other, the high value of good relationships between tenants, landlord and property manager cannot be underestimated. Dissatisfied tenants in a property can detract from or derail your efforts to rent any vacancies.
This marketing package for a commercial lease vacancy is comprehensive and will answer many tenant questions before they are even asked. It also shows that you are the professional expert in retail leasing.
