Renting a commercial property presents a different set of challenges in comparison to a residential space. Do you know how to advertise available spaces? Or, do you know how to screen potential tenants for a business space? The work may seem overwhelming if you try to handle it all yourself. Fortunately, a shopping center specialist is well-trained in this field and can provide professional help to get your space occupied and start making a profit.
Our team of property experts knows exactly how to handle different types of storefront properties, attract tenants, and more. With a shopping center specialist, you can expect plenty of professional input and assistance with the basics of retail property management:
Attracting quality tenants
Marketing an empty storefront property takes time, effort, knowledge, and applicable skills. Fortunately, your shopping center specialist’s job centers on these! They’ll handle your in-person and online advertising for your property and advocate to potential tenants. You won’t have to worry about hunting for renters–with the amount of excellent marketing your specialist will do, tenants will come looking for you!
2) Attracting Quality Tenants
Do you know how to vet the tenants that will inquire about your property? Even if you have a general idea, how can you distinguish between two similar renters vying for the same space? Your retail property manager will discuss this entire process with you and help you determine which candidate is a better choice for your business.
Pro Tip: Finding good tenants for your store-front property ensures proper maintenace and ownership of your property.
3) Leasing Services
Finally, property leasing involves a lot of legal complications that can make or break a deal. Worse, if you mess up, your tenant can sue you. Avoid these problems with the help of a shopping center specialist who knows exactly what to do and how to keep you in full legal compliance. Our experts will handle the complicated parts so you can reap the benefits.
Hiring a Specialist
Shopping center specialists are trained in property management with a specific emphasis on the work involved in running retail centers. With an extensive knowledge of market trends and potential tenant behavior, they’ll help you in any way you need to maintain your properties and enhance your investment.
Connect with us to learn more about what our team of experts can do for you.
At most shopping centers, millennials and younger people will be your primary customer base. Contrary to what you may have heard, millennials are not exceptionally hard to please and will return to your shopping center if you can provide them with a good experience.
Like any other group of people, millennials will differ from one another. However, several common characteristics among this generation can help you appeal to them more directly. Keep these key factors in mind when you’re sorting through tenant offers.
Many millennials love to share their experiences and favorite stores with friends, and what faster way to share them than other social media? Make sure your stores and shopping center overall have an appealing online presence and regularly interact with internet users. Give your customers the chance to look up deals online and share their finds with each other.
Pro Tip: Stores with a specific app also encourage customer engagement through technology and online bargain hunting! Advertise your stores’ apps and consider offering special discounts to app users.
This one applies to more than just millennials. In an increasingly fast-moving and busy world, customers want to pay for their goods quickly and easily. The simpler your payment process, the better. See if you can start accepting Apple Pay or other cardless forms of payment without sacrificing security.
Keep the Design Simple
Like most people nowadays, millennials don’t have a lot of time to spend just shopping. The cleaner and less cluttered your store layout is, the simpler their shopping experience is and the more likely they are to return. Make it easy to find everything your customers need. Even if they don’t spend as long in the store as you’d like at first, if you consistently offering a satisfying experience, they will return.
Keep Online and In-Store Offers Consistent
Most millennials check your website so they know exactly what they plan to buy when they enter your store. Because of this, they expect to see the same merchandise offered in your store and your website, for the same price. Inconsistencies between the two can be interpreted as dishonesty or just laziness on the store’s part. To avoid this, make sure your website is up-to-date with what you currently have available in the physical store, and make sure any sales match up in both locations. Don’t confuse your customers.
Appealing to a New Generation
While their lifestyle and shopping habits may not line up with the previous generations, millennials are not hard to please when it comes to providing a good shopping experience. As long as you take care to pay attention to their preferences and needs, you can count on having plenty of young people as repeat customers.
Looking for more ideas on creating an appealing shopping center? Connect with us to see how other property owners attracted millennial customers.