Posted by Kyle Miller on April 10, 2006 at 14:49:40:
Hope it went well today. Here are a couple of other quick thoughts:
Since landlords/tenants frequently seem to have minor(or major) gripes/disagreements and the grass is always greener on the other side, many tenants might consider what you have to offer. When your agent or you contacts a prospect, you’ll be in a unique position to let them know how much you’d love to have them in your location. It will be sincere, and they’ll be flattered.
Give your broker AND any procuring brokers an expiring special incentive for leases signed by x-date. If signed by that date, then it is paid for out of reduced vacancy cost. Note: this would naturally reduce your ability to give free rent. If not signed by that date, then no loss, but you have gotten the attention of more people.
See what businesses further away are ready to open up another (non-competing) location.
Related to that, look at a similar successful development that you like (good tenant mix) that doesn’t have any geographic overlap. See how many of the franchises & businesses would like to open a new location. Let them know that you’re also in discussions with their neighbors. The demographics & herd mentality could get the ball rolling for them to duplicate their cookie cutter success en masse at your location.
Good luck & much success,