Leasing a shopping center is a specific strategy regarding location, property type, customer demographics, and owner. All factors come together to contribute to a successful lease outcome and tenure mix.

It should be said that a successful leasing strategy will contribute to the greater the benefit of the property. More clients will be encouraged to visit the property and purchase goods or services. On that basis, retail leasing is pretty special.

Here are some tips to help you rent a shopping center in today’s real estate market:

1. Understand the vacancy factors that apply to the venue or location. An excessive number of vacant leases will impact incentives and market rents. Check the supply and demand factors that apply within the region. Look for new real estate developments that could have an impact on the movement of tenants and the rental market.
2. Understand the types of incentives a landlord can offer to attract tenants. Also understand tenant requirements when it comes to incentives in today’s market. Any vacancies you have available for rent must match prevailing market conditions. That will include the rental types and incentives offered. The landlord needs to adapt to market conditions. Get some details on comparable rentals and other nearby properties to help your landlord understand your vacant lease package.
3. It must be said that a lease incentive cost must be recovered through the lease structure during the lease term. In other words, any money that is lost or made up in incentive availability must be recovered by increasing and escalating the rent over the lease term. You can make this calculation through an assumption of market rents and a discounted cash flow calculation. The net present value of the arrangement can be compared over the term of the lease.
4. Successful leasing executives typically have a substantial database of retail tenants to contact. Any new leasing opportunity can be offered through the database to specific tenants, anchor tenants, retail specialists, franchise groups, and other industry professionals. Any opening can be marketed directly to these groups through cold calling, direct contact, email marketing, and direct mail.
5. It is acceptable and normal to market a vacant rental through generic means. That will involve newspaper advertising and internet listings. There are costs associated with that marketing activity and the landlord must contribute to those costs.
6. The most successful leasing transactions occur through leasing executive involvement and direct marketing to the right people. I come back to the point that the database of each broker or agent is quite important to convert more commissions and listings.

It should be noted that any quality property in a good location will generate good incoming inquiries. By being selective with your property appointments and vacant leases, you will create more turnover and activity in property leasing.