How to find commercial tenants?

Question

I'm a licensed Realtor and recently purchased a retail strip mall with small units. I know, terrible timing - I closed Jan. 31. I have a couple of upcoming vacancies that I've posted on New England Commercial Property Exchange. I paid for membership so I can post ads.  I also looked into Loopnet and the cost is very high!  I did the free ad, but it's not generating anything.  I tried Craigslist for a while and the section of the residential MLS that's for commercial (most Realtors don't know it's there).  What is the best way to find tenants for this property?

Kevin Miles · Answer

Commercial Retail Leasing Broker. Facebook Market place might help too. On the up side smaller spaces lease faster than big ones.

Steve Morris · Answer

You do have a highly visible sign?  Drive-by still gets you about 50% of leads.

Bob Langworthy · Answer

@Amy A., you could also get creative with the commission that you are offering. Realtors are driven by commission. If you let all of the commercial brokers in the area know that you are offering two months rent or a higher percentage or an annual check based on length of lease (depending on how you're structuring the commission) you'll get some interest.

Hope this helps,

Surya Basava · Answer

I'm in the same boat like you, helping out a friend to lease his space. Planning to put it on local MLS,CREXI, contacting  local commercial brokers as co-operating broker. BTW, I'm Realtor in Cincinnati area.Good luck.

Greg Dickerson · Answer

Contact all local commercial brokers and PMs in your area. Big signs out front and get creative with tenant mix depending on location.

David M. · Answer

@Amy A.

Well, for one it just could be the market...  Have you tried contacting a broker specializing in commercial real estate?  I am assuming here that you aren't a commercial specialist.  Maybe you could self-refer yourself...  How is the rest of your market doing?