It seems strip malls have the advantage over traditional malls. But just because people choose to drive to a strip mall, doesn’t mean they won’t go somewhere else. That’s why it’s important to make your commercial property as attractive as possible.
One of the easiest ways to do that is by providing leases to a variety of different retailers. For example, if there is a grocery store in the strip mall, that could bring people in on a regular basis. If there’s a movie theater nearby, moviegoers may choose to do some shopping before or after. Think about the current tenants you have and use that information to draw new tenants to the property.
Speaking of your current tenants, don’t forget that referrals can go a long way. Consider starting a program that allows your current tenants to get rewarded when they entice a new tenant to your property. Maybe you provide them a discount on their next month’s rent or offer some other kind of bonus.
It’s also important that your commercial property has security. Tenants will be more interested in opening their business if they feel their assets are protected. Make sure there is plenty of lighting in the parking lot, a reliable security system, and consider installing smart locks too.
Also, consider the exterior of your property. If the landscaping is not kept up with, it’s time to commit to that. In addition, take a look at the current signage and the exterior paint. Is everything up to date or do you see cracks, faded paint, and burnt-out lightbulbs? How about your parking lots and sidewalks? Are they dirty and cracked? Are the lines fading? If anything looks worn down or out of place, take the time to repair it.
Think about ways your property is better than the competition. Then, highlight those features. Maybe you have certain amenities your tenants will benefit from. Maybe you offer cost-savings that your competitors don’t, like energy-efficient upgrades, for example. Advertise those things that make your commercial property a better choice.
These are just a few of the things to consider when trying to fill occupancies at your strip mall. There are plenty of more tips and tricks up our sleeves. To learn more about our experience and capabilities. Please visit our website. https://www.sugarhillpropertymanagementinc.com/.
