- Install professionally designed and produced for lease sign
- Put your pylon to work as a leasing sign
- Ask yourself what type of tenant would want to be here and look for them-canvassing
- Use the Yellow Pages to brainstorm types of tenants
- Mobilize your people resources – trade area blitzing
- Utilize business opportunity meetings
- Attend and cultivate franchise opportunities – trade shows
- Use direct and mass mailing starting with a radius of the property
- Solicit with technology – place ads on web search engines
- List with Hire MICHIGAN Commercial Properties for access to member only MLS platforms
- Canvass trade shows
- Network, network, network
- Consider becoming a retailer
- Use print advertising selectively
- Recruit temporary tenants
- Use incentives to tempt tenants
- Publicity releases
- Contact existing tenants for leads
- Use movie theatre advertisements
- Get to know your area real estate brokers
- Incubate tenants to maturity
- Install leasing brochure boxes
- Utilize billboards
- Educate the center manager to canvass
- Know the strengths and/or weaknesses of your center
- Remember service tenants
- Be reluctant to accept NO for an answer
- Do not say no for the tenant e.g. “they’re too upscale etc.”
- Investigate who is advertising in local newspapers for help wanted
- Observe national publications for feature articles on retailers
- Make use of trade and industry specific publications
- Contact local newspapers and business associations for leads
- Follow up with correspondence
- Educate your entire company about your center
- Change negative images, e.g. rename
- Set up a leasing office on site
- List with MICHIGAN Commercial Properties because they do many of these for you
- Produce a video of the center
- Consider the potential of an ethnic center
- Establish a rapport with your local SBA office
- Buy a retail store
- Convert the center into a specialty center
- Canvass surrounding states for anchors
- Prepare a fact sheet on local tenants unfamiliar to national tenants being pursued
- Prepare a “Wish List” and identify specific locations and tenants to occupy
- Commit to television and radio to promote your center indirectly/directly
- Barter with vendors
- Offer incentives to make a second deal
- Network with your local banker
- Contact jobber (distributors of goods to smaller retail outlets)
- Approach manufacturers to consider retailing
- Develop a short form lease for “Mom & Pop” tenants
- Reimburse tenants for their advertising, if it includes your center, as an incentive
- Be helpful to existing tenants by offering additional space on a success fee basis
- Join groups to improve networking possibilities
- Approach private educational institutions
- Consider using anchor space as a flea market
- Advertise near the successful, competing shopping center
- Offer space to all of the shopping center tenants in your trade area
- Advertise through the use of inflatable’s
- Use your personal sphere of influence to ask for referrals
- Get to know store managers
- Offer small tenants completed stores
- Consider buying out short term leases, if practical
- Lower initial rent
- Offer “kick-out” clauses
- Act convincing
- Know the traffic counts, but don’t exaggerate
- Have thorough knowledge of demographics of “trade area”
- Use “creative” negotiation skills, e.g. free rent, half rent, buy out their existing lease
- Suggest shorter terms, e.g. 23 months, 18 months, etc.
- Research tenants on the internet and send them a proposal
- Subscribe to trade publications that introduce new and/or expanding tenants
- Purchase Email lists & send brochure
- List with MICHIGAN Commercial Properties because vacancy loss is your No.1 expense.
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Our new office is located at CoWork 36 at 921 36th St SW, Ste 100, Wyoming, MI 49509.
