Malls to Main Streets: Leasing Retail Space
Retail space is always in flux between crowded malls and quaint, centrally located main streets. In recent years, mini strip malls are the rage with larger branded super spaces surrounded by smaller retailers and restaurants forming a shopping village convenient to a location. Whatever form retail takes, it is clear that there is an abundance of space waiting for the right tenant.
"There are 8.5 billion square feet of retail space in the United States, which equates to 24.5 square feet of retail space per capita or five times Europe's average of 4.5 square feet per capita." - The Unmalling of America, Lincoln Institute of Land Policy
What Do Marketing, Sales, & Leasing Professionals Need to Lease Retail Space?
The reality is that available retail space is growing faster than businesses. When COVID is added into the mix, marketing, sales, and real estate leasing professionals are seeking creative ways to safely and securely bundle, curate, and share building information and media for tenants, franchises, and potential owners doing their desktop due diligence.These are the thing marketing, sales, and CRE leasing professionals need to be able to do to quickly close the deal on retail space:
Answer Questions Quickly
The basis of a successful lease is reaching the customer when they are in the mood to buy. This is especially important for tenants and potential owners because there are so many choices that fit their needs. Having a center point for all content relating to the building gives real estate marketing and sales professionals the ability to retrieve the answer to a question efficiently and with the confidence of correctness.
Collaboration for All CRE Stakeholders
The ability to get all stakeholders in one place is a problem during and after COVID. Many companies will continue their remote business model into the foreseeable future. A collaborative environment for all stakeholders - including portfolio managers, operations managers, brokers, and owners - to package building information, securely view documents, and share media means that everyone is on the same page throughout the leasing process.
Supply Floor Plans & Drawings
A common pain point in the CRE industry is sharing floor plans and AutoCAD drawings. Because many mainstream users do not have access to or a license for Autodesk, sending a Revit or .dwg file that cannot be opened by the receiver adds frustration and aggravation to the leasing process. The best practice is to always have a platform that opens Revit and AutoCAD files in a browser quickly and easily for the client to move the deal along.
Share Video & 3D Tours - Look without Leaving Home
3D video services like Matterport and video sharing platforms like Vimeo are the standard in the commercial real estate industry. Whether you share a link to a video social site, such as YouTube, or you upload your video directly, it is vital that decision-makers are able to quickly access your 3D tours and marketing materials to get the experience of walking through the retail space. The biggest downside is keeping all of these videos and channels straight without content bundles.
Access Marketing & Sales Materials
Real estate marketing and sales professionals need a variety of materials to close a deal. Brochures, sales decks, presentations, and beautiful property photos are no good without access from a desktop or phone. Placing sales and marketing materials into content bundles provides organizations with access for individuals and teams to easily share with interested buyers or tenants.
Secure Financial & Leasing Documents
Financial and leasing documents are perhaps the most needed to seal any commercial real estate deal. Many sales and leasing real estate professionals hesitate to email or link directly due to security concerns. Content bundles with invited access give participants the ability to securely view all types of documents and easily remove access when the deal closes.
Innovative CRE Technology & Tools
Commercial real estate professionals are used to balancing several tools and workarounds to help them provide customers with service and answers. The problem is that hopping between CRE tech tools and juggling multiple logins burns both time and money. Finding one centralized space to securely share all marketing, sales, and leasing information about a building is essential to the success of all of the previous tasks.
Marketing, Sales, & Leasing: Close the Deal on Retail Space
The center of any great marketing, sales, and leasing real estate team is access to information - quickly, easily, and securely. The more digital information and media available to potential buyers, brokers, and tenants the faster it is to sell retail space - especially in the time of COVID.Find out more about how PocketBuildings help sales, marketing, and leasing professionals close deals on retail space with the ability to securely bundle, curate, and share building data and media. Sign up for a demo today with one of our Real Estate Technology Consultants.