NATIONAL TENANTS

3 Replies

Hello everyone im having a bit of struggle as regards finding national tenants for my property , im not talking about gigantic compass such as apple or wells fargo. But im referring to local banks , Great expressions dental centers , and many others mid size tenants. What i thought was to call them and offer my property but i don't know where to call or what is more important who to ask to talk to. thank you .

I would contact some local commercial brokerages.

Gero,

National tenants have certain demographics, traffic counts, going home versus going to work sides, sight line requirements, number of parking spaces, etc.

You center might not be prime for them. I would have to see the location and area to know.

Have you tried calling the real estate departments for these companies?? You can usually submit a site package and then call for follow up. They will give you reasons as to why the site works or doesn't work. Maybe it is something you can fix and maybe it is not possible with that property.

All strip centers would love national tenants with corporate guarantees but they want to be in the best locations. Sub-standard locations or older centers tend to rent to mom and pop tenants and also national concepts but franchisee tenants. Make sure your asking rent per sq ft is not out of line with the area. Sometimes owners will be comparing rents per sq ft to a corner strip center location with traffic from two sides, an anchored shopping center with a Wal-mart, Kroger, Publix etc., or the owner has two levels and the space upstairs is for rent and they are not making a deduction for that.

Lot's of variables come into play that make a difference.   

Does anyone know of a good book that talks about all of this?

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