Marketing a stagnant commercial property seems daunting. How can you reignite interest and close the deal?
Marketing a stagnant commercial property can feel overwhelming, but you can breathe new life into it and attract potential buyers with some strategic moves. Here are actionable steps to help you close the deal:
Have any other tips for marketing commercial properties? Share your thoughts.
Marketing a stagnant commercial property seems daunting. How can you reignite interest and close the deal?
Marketing a stagnant commercial property can feel overwhelming, but you can breathe new life into it and attract potential buyers with some strategic moves. Here are actionable steps to help you close the deal:
Have any other tips for marketing commercial properties? Share your thoughts.
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Reignite interest in stagnant commercial property by offering flexible leasing terms, showcasing adaptive reuse potential, and using targeted digital ads highlighting its unique features. Leverage virtual tours for remote prospects, and partner with local influencers or businesses to create buzz and emphasize its value in transforming neighborhood growth.
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One of my family office clients had a stagnant commercial (for lease) property once (industrial). I printed out several copies of our marketing flyer and walked door to door talking with neighbors and handing out flyers. I met someone that needed more space than they had and they liked that they would not have to move very far into my spot. We offered flexible leasing terms to seal the deal. Sometimes you have to do things the old fashion way.
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Marketing a stagnant commercial property is all about reenergizing the listing. Most of the properties I win have already been shopped around and become stagnant. The first thing I do is a broker opinion of value to see if the property’s cap rate fits within market comparisons or if it's overpriced. From there, my focus shifts to showcasing the building's best attributes and getting maximum exposure. This includes listing it prominently on our website, LoopNet, CoStar, Crexi, social media platforms, and leveraging our client relationships. With this strategy in place, we inject fresh energy into the listing, reach the right audience, and ultimately get the property sold.
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Reigniting interest in a stagnant property requires fresh strategies. Here's how we approach it: Repositioning: We shift focus to appeal to the type of investor, like 1031 exchange buyers or value-add potential, by restructuring the leases to NNN and highlighting the potential for increasing rent in a below-market lease. Targeting Investor Needs: We tailor materials to emphasize zoning approvals and market-specific opportunities, such as early education centers or niche investors. Highest and best use. Creative Visuals: We use aerial drone footage and 3D tours to showcase features Boosting Visibility: Optimizing with SEO-targeted keywords increases online traffic, aligning with what investors are searching for. Press releases.
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Remove all the negative publicity for this stagnant property. Make it look like a value for money deal for customers. Announce some very nice offers making more inquisitive towards buying by different clientele.
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