As you prepare to lease out your retail commercial real estate to a new tenant, the issue of attracting good tenants will arise. The most crucial step to attracting good tenants is to hire an experienced retail commercial real estate agent. The process for finding a great tenant is the same for finding a great commercial real estate agent – preparation. Spend some time gathering the data that will help your agent find the right tenant.
Define your primary and secondary objectives for the business arrangement. These include goals for additional revenue, shared overhead expenses, type of lease desired, re-purposing space, and overall tenant mix in the building.
Attracting successful, long-term tenants sometimes takes more than the building’s primary features. You may need to be prepared to negotiate with prospective tenants to meet some of their requirements.
Define your ideal tenant and complete a tenant profile including business category and culture that would best suit the building. You may consider which types of retailers would complement those already occupying your building.
You want your retail commercial real estate agent to be fully prepared to answer questions from prospective tenants. Of course their experience is important, but your commercial building is unique, and you know it best. Compile a building profile that details the following:
Menlo Commercial Real Estate has been providing experienced, knowledgeable guidance to landlords of retail commercial real estate to the right tenants for many years. Contact us today, and let us find the right tenants for you. Our number is 480.659.1777.