When you signed up to be part of a project, you more than likely had high hopes for its success. Then, in what may be best described as an uncertain economy here in California, you discover that finding tenants for your project is a challenge. Attracting tenants for shopping centers may require sweetening the pot with some additional benefits and amenities that may be attractive to them.
For instance, in this electronic age, providing an already installed superior internet infrastructure may be enticing. Combining this with options to maximize energy efficiency may draw more tenants. Both of these improvements could be sold as money-saving options that would increase a tenant’s bottom line.
Providing easy and safe parking lots could also be a draw for prospective tenants who want to make sure that their customers and employees can easily access the property. Parking lots should provide adequate lighting and other safety measures that make them attractive for safety-minded people businesses, employees and customers. Some tenants may be looking for amenities for their employees. Space that is not being used for businesses could be made into daycare centers, exercise facilities and dining choices.
These and other enticements could make shopping centers more attractive to prospective tenants. Once a business agrees to rent space from you, the lease will need to be negotiated. In order to ensure that you receive the best terms possible while keeping it “tenant friendly,” you may benefit from involving a California real estate attorney who regularly deals in commercial leases.
Source: atlantech.net, “12 Ways to Attract Commercial Tenants in Tough Real Estate Markets“, Tom Collins, Accessed on Oct. 14, 2017
