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How do you showcase your CRE property's value proposition to potential tenants?

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As a commercial real estate (CRE) owner or broker, you know that attracting and retaining quality tenants is crucial for your property's success. But how do you convince potential tenants that your property is the best fit for their needs, goals, and budget? How do you showcase your CRE property's value proposition to potential tenants?

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1 Define your value proposition

Your value proposition is the unique combination of benefits and features that your property offers to your target market. It answers the question: why should a tenant choose your property over others? To define your value proposition, you need to understand your property's strengths, weaknesses, opportunities, and threats (SWOT), as well as your tenants' pain points, preferences, and expectations. You can use market research, surveys, interviews, and feedback to gather this information and craft a compelling message that highlights your property's competitive edge.

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Clarence Wong, CCIM

Acquisitions & Development | ARGUS Instructor at UCLA Extension
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Tenants gravitate towards amenity-rich & productive/functional business environments; adapt & push forward or risk obsolescence. In order keep up w/ your competitive set, consider adding amenities offered at competing props or even add unique amenities to your subject property. This enables your prop to hang w/ the pack &/or it could even make it stand out among the competition, allowing you to charge higher rents & help w/lease-up. #CREValueAdd ?? Follow

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Nicholas Molinaro

Commercial Real Estate | Off-Market Properties | Commercial Lending |
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I think it's really important to figure out what makes a property special and why tenants would want to rent it. To create a good value proposition, we need to know what the property is good at and what tenants want. Research, surveys, and asking for feedback is obvious but you should also analyze the competition and understand how the property stands out in the market. Another option is to analyze industry trends and understand how they might impact the property. Additionally, brokers can use their experience and expertise to identify unique features and benefits of a property that may not be immediately apparent. Once we know what makes the property unique, we can use it to attract the right tenants and increase occupancy rates.

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2 Create a professional marketing package

A marketing package is a document that summarizes your property's value proposition, key information, and selling points. It should include high-quality photos, videos, floor plans, maps, amenities, specifications, testimonials, and case studies that showcase your property's features and benefits. A marketing package should also be tailored to your target audience and their needs, goals, and budget. You can use online tools, templates, and platforms to create a professional and engaging marketing package that you can share with potential tenants via email, social media, or your website.

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David Rajakovich

CEO Acuity Risk Management | Strategic Technology Leader | Cross-Functional Expertise | Scaling High-Growth Businesses
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Instead of an analog marketing package, why not show tenants what the space could look through a digital one? Also, instead of one option, why not allow them to tailor the space to their needs with expert guidance and a design process that can be done in real time, showing the impact of their modifications? Finally, expedite the fit-out by ensuring that the design is functional, automatically providing a Bill of Materials output that allows you to quickly get costs and understand the environmental impact of any changes.

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3 Leverage digital channels and tools

Digital channels and tools can help you reach and engage potential tenants in various ways. You can use social media, blogs, podcasts, webinars, newsletters, and online ads to generate awareness, interest, and trust in your property. You can also use virtual tours, 3D models, interactive maps, and chatbots to provide potential tenants with a realistic and immersive experience of your property. Additionally, you can use online platforms, portals, and databases to list your property, showcase its availability, and connect with qualified leads.

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Erik Egelko

President at Palm Tree Properties | Helping Property Owners Build Wealth and Maximize Cashflow
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Video tours, specifically for larger spaces have been highly effective at engaging prospective tenants particularly those organizations with multiple decision-makers.

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4 Communicate clearly and consistently

Communication is key to building trust and credibility with potential tenants. You should communicate your value proposition clearly and consistently across all your marketing channels and materials. You should also communicate frequently and promptly with potential tenants, answering their questions, addressing their concerns, and providing them with relevant and updated information. You should also communicate your expectations, terms, and conditions transparently and respectfully, and avoid any misleading or false claims that could damage your reputation.

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5 Showcase your track record and reputation

Potential tenants want to know that you are a reliable and reputable CRE owner or broker. You can showcase your track record and reputation by providing them with testimonials, reviews, ratings, referrals, and case studies from your previous or current tenants. You can also highlight your awards, certifications, accreditations, memberships, and affiliations that demonstrate your expertise, professionalism, and quality standards. Moreover, you can showcase your social responsibility, sustainability, and community involvement initiatives that reflect your values and vision.

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David Rajakovich

CEO Acuity Risk Management | Strategic Technology Leader | Cross-Functional Expertise | Scaling High-Growth Businesses
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The best way to showcase your reputation is with data - e.g. how specifically have you contributed to decarbonisation? How are people using your space? What is the air quality like? Then, it's about the ability to weave that data into a story - i.e. what do these measures mean for productivity, tenant branding, worker happiness, etc. The stronger the data that you can present, the easier it will be for you to convince a CFO to authorise the deal!

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6 Provide value-added services and incentives

Finally, you can showcase your CRE property's value proposition to potential tenants by providing them with value-added services and incentives that go beyond the basic lease agreement. For example, you can offer them flexible lease terms, rent discounts, free parking, complimentary Wi-Fi, access to shared facilities, maintenance support, security services, and more. You can also offer them customized solutions, such as build-to-suit, tenant improvement allowance, or co-working spaces, that cater to their specific needs and preferences. These services and incentives can help you differentiate your property, increase tenant satisfaction, and foster loyalty.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you showcase your CRE property's value proposition to potential tenants?

1

2

3

4

5

6

7

1 Define your value proposition

2 Create a professional marketing package

3 Leverage digital channels and tools

4 Communicate clearly and consistently

5 Showcase your track record and reputation

6 Provide value-added services and incentives

7 Here’s what else to consider

Commercial Real Estate

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How do you showcase your CRE property's value proposition to potential tenants?

1

2

3

4

5

6

7

1 Define your value proposition

2 Create a professional marketing package

3 Leverage digital channels and tools

4 Communicate clearly and consistently

5 Showcase your track record and reputation

6 Provide value-added services and incentives

7 Here’s what else to consider

Commercial Real Estate

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