Marketing Your Commercial Property to Attract the Right Tenants

Attracting the right tenants to your commercial property can help you grow your commercial portfolio without investing in additional properties. Understanding your local market, building a list of target tenants, and employing the right marketing strategies can help you find the perfect, long-term tenants for your portfolio.

Understand Your Local Market

Your local market plays a large role in your success finding tenants. Let’s say you own a medical building. Are you the only medical building in your area, or are you close to other clinics or a hospital? What are the vacancy rates in the buildings around you? What amenities do these buildings offer, and how do they compare to yours?

Answering these questions in regard to your neighbors and neighborhood can help you understand your local market and the types of tenants who may be attracted to your area. Armed with this knowledge, you’ll be able to craft sales and marketing materials that speak to the benefits of leasing in your building.

Understand Your Ideal Tenant

Once you understand your local market, it’s time to do some research on your ideal tenant. There’s more to understanding your ideal tenant than simply wanting them to pay rent on time. You’ll want to decide how long your ideal lease is, the tenant improvements you’re willing and unwilling to make, and the types of businesses that would fit well with your current mix of tenants.

Invest in Photography

Professional photography is one of the best investments you can make in the marketing of your property. Many tenants look for space online, and having lots of beautiful photos of your property can separate it from other available spaces. You can take your listing to the next level with video or interactive walkthroughs of your building and tenant suites.

Blend Traditional and Digital Marketing Strategies

With your professional photography and videography in hand, it’s time to create your property’s listing. You will have a greater chance of finding the ideal tenant if you blend traditional and digital marketing strategies. Develop a one-pager for your property that you can send digitally as a pdf or hand out to potential tenants. Be sure to create an online listing for your available space and promote it on social media, too.

Property owners who partner with Clarity Commercial can take advantage of our online listings as well as our full suite of done-for-you marketing services. We maintain and up-to-date list of available properties for lease on our website. Our property managers work tirelessly to market your property to your ideal tenants, including digital marketing, print marketing, and flexing their professional networks.

For expert help marketing your commercial property, get in touch with the Clarity Commercial team today.

Commercial Real Estate Marketing Tips to End 2020 Strong

There’s no sugar-coating it—many commercial property owners have taken a hit this year. The hospitality, retail, and office markets have all experienced losses as a result of the COVID-19 pandemic. It’s more important than ever for commercial real estate owners to market their available space. Tenants are still out there, they just may be more difficult to find. That’s what it often pays off to work with a trusted management partner like Clarity Commercial.

Here are few tips for marketing your commercial property to prospective tenants.

1. Do Your Research

Before you put your commercial space up for lease, do your research. Even if you’re a veteran property owner, the leasing landscape has changed dramatically since the start of the year. Take some time to look at what’s currently on the market, how long these properties have been available, and the types of spaces that are attracting tenants. Know the average vacancy rate for your area. Use all of this data to set realistic expectations for your own space.

2. Know Your Target Market

Once you understand your area’s commercial real estate market, it’s time to think about who your prospective tenants are. What are they looking for in their new space? Location, parking availability, broadband or fiber optic internet, utility hookups, and current build-out may all be factors in their leasing decision. So are the leasing terms, such as monthly rent and length of the lease. By understanding your target market, you can tailor your listing specifically to their needs and reduce the time your space is available for lease.

3. Create an Outstanding Listing

With your market research complete, you’re ready to create an outstanding listing for your leasable space. Your knowledge of your local area will help you set competitive lease terms, and understanding your prospective tenants will help you create a listing that speaks to their needs.

We suggest you use photos and video to allow the property to sell itself. Keep your description engaging, short, and focused on the property’s features. Use bullet points to share important information. Don’t forget to ask people to schedule a showing or contact you to learn more.

4. Spread the Word

There are many different ways to promote your property. Traditional methods such as flyers, mailings, signage, and cold calling are all viable ways to reach potential tenants. So are online listings on your website, social media posts, and online advertising. You’ll want to employ several different methods to reach prospective tenants.

5. Get Help When You Need It

Effectively marketing your leasable spaces plays an important role in the fiscal health of your commercial real estate portfolio. If you don’t have the time or the expertise to market your spaces, consider getting some help from a commercial property management company.

The Clarity Commercial team helps commercial property owners market, fill, and manage their commercial spaces. For help marketing your leasable space, contact Clarity Commercial today.