Owners of vacant commercial properties often have little time to take care of the nitty-gritty of entertaining potential tenants. The ideal, of course, is to generate some income by leasing every available space. In a place like Anchorage, Alaska, all it may take is savvy negotiation and affordable terms to help fill the spots as much as possible.
The Anchorage Economic Development Corporation reported upswings in job generation, with over 3,000 positions filled as of June 2015 in both private and public entities. Officials also look forward to Medicaid expansion in Alaska as an opening for more healthcare providers in a thriving place like Anchorage. When you need help in entertaining applications from potential tenants to fill vacancies in your commercial outlets, it’s a smarter move to get property management firms, such as Graham Commercial Real Estate, to handle both tenant and owner representation for you.
Traditionally, owners of medium and large commercial properties court a few big-name firms to lease ample space in their premises. Shopping malls attract top retailers as anchors; what if, however, big-name outfits pass on the offer?
You can then shift efforts into attracting other types of businesses to set up shop. Chron.com contributor Gail Sessoms said one way to do it is by engaging “non-traditional” businesses like religious organizations or franchisees, to look at your space. Your property consultant can advise you on how to properly market the location.
The size of tenant space in the complex may be unsatisfactory for some potential business tenants. Consider subdividing the slots into larger and smaller room spaces, and apply separate AMLS listings for each. Your property management firm will prepare the space for occupancy and whatever else may be needed to get potential tenants to look at the vacant slots.
Some situations may arise on the property’s viability to be leased off at all, which you may then decide would be better off sold. You can also, if within the possibility of opening up space, convert the area into a warehouse and put it up in the listings of warehouses for sale.
A property management company like Graham Commercial Real Estate may advise you if the property can be repurposed as a commercial space, and then help represent you in sales negotiations so that you may command the best price from the best tenant offers. Talk to an Anchorage, AK property manager today.
What to Do With a Vacant Retail Space? Chron.com
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