These are valuable ideas to help you find retail shop tenants to fill vacancies in shopping centres and big-box retail properties. With any retail shopping centre today, the factors of vacancy and the pressures of the tenancy mix require monitoring and planning; that is the job of the shopping centre manager and for the leasing executive.
It is advisable to have a formalised leasing strategy and marketing plan to help resolve vacancy factors quickly and specifically so the property income continues with minimal disruption to cash flow.
Protect your property performance over time with better tenants and marketing activities. Improve the tenant mix at every opportunity. Look at your leases, tenants, customer sales and visits, plus property maintenance. It is a formula of activity that does not cease.
In today's podcast, we share ideas about how you can do that consistently with a boost to rental income and a reduction of vacancy factors.
Your business plan for the retail property should have strategies to it and initiatives implemented. The best tenants should be selected for each vacancy given the location of the shop within the retail property or shopping centre, the levels of market rental required for the location, and the balance of tenant clustering within the tenancy mix. Here are some ideas to help you find retail tenants to fill current and upcoming vacancies in your retail shopping centre.