The commercial real estate world of leasing is challenging and competitive, especially in the Bay Area. Finding a great tenant becomes a long-term investment because they’re an asset to your building. Knowing the needs of your tenants is the best way to attract them to your building and seal the deal.
But first, there needs to be a game plan for reeling them in.
1. Identify Your Criteria
The best thing you can to start the process is to fill out your own criterion of what you can offer for what you need.
A. The type of business: the business you want in your building is who you should be marketing towards.
B. A maximum budget (for leasing negotiations)
C. Size: How much space are you offering? Layout changes?
D. Background Info: Screening, Previous Occupancy, Etc.
2. Get Exposure
Having trust in your tenants gives you a huge advantage because you can use them to bring you, other great tenants. Offer them a referral reward of a discount or a reward package by bringing you warm leads. If you want to expand further, then set up advertisements that will attract what you’re looking for within your market. Depending on your area, you want to highlight aspects of your building that will make prospective tenants find your building more desirable.
3. Go Green!
In the SF Bay Area, many prospective tenants prefer Green buildings when it comes to ensuring environmental sustainability. LEED Buildings are changing the way we look at buildings for the better because they provide proven results of higher worker productivity and use up less energy than traditional buildings. Plus, any building can begin the process of becoming LEED certified.
How close is your location to life outside of work? What does your location offer in regards to parking? Maybe your location is not easily accessible to other businesses like restaurants, wellness centers, gyms, or public transportation. Adding amenities that brings the buzz to your building is extremely desirable for prospective tenants. It makes their life easier because they don’t have to rely on the building’s location to go to all the places that make them happy. Want gourmet lunch options? It’s in the building. Want to get your heart rate up at the gym so you can beat the traffic later? The gym is in the building. Get our point? Many high-rises are already offering these kinds of amenities and they’re a great way to bring in lasting tenants that will appreciate every last convenience factor you squeeze in for them.
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