6 Creative Solutions for Finding Tenants for Industrial Properties
Filling industrial spaces with the right tenants requires innovative strategies. From hosting community events to leveraging digital marketplaces, discover effective ways to attract diverse businesses. Learn how flexibility and targeted outreach can transform empty industrial properties into thriving business hubs.
- Host a Community Open House
- Target Specific Business Niches
- Utilize Online Real Estate Platforms
- Offer Flexible Lease Terms
- Highlight Unique Property Features
- Partner with Local Business Groups
Host a Community Open House
When tasked with finding a tenant for an unconventional industrial property, I decided to host a Community Open House and Networking Event.
Setting the Stage
I knew the property's size and layout made it intimidating for smaller businesses, but I also saw its potential as a versatile space for creative uses. To showcase this, I staged the property with temporary setups that highlighted its flexibility:
A pop-up film studio with rented lights and cameras to attract interest from media companies.
A small workshop area featuring tools and displays to show artisans how they could make use of the space.
Event space décor in one section to demonstrate its potential for hosting large gatherings or productions.
Inviting the Right Crowd
Rather than simply advertising the open house to traditional industrial tenants, I reached out to local creative entrepreneurs, filmmakers, e-commerce businesses, and even nonprofits. I partnered with the local Chamber of Commerce and business associations to help spread the word.
I also sent targeted invitations to companies I identified as potential tenants, emphasizing that the event was an opportunity to network, see the space, and imagine its possibilities for their businesses.
Adding Value to the Event
To make the open house more than just a property tour, I organized:
A panel discussion with successful small business owners who had grown by moving into affordable, unconventional spaces. This inspired attendees to think outside the box about their own growth.
A free workshop on scaling businesses using industrial space, led by a local business consultant.
Local food trucks and live music, making it an enjoyable community event that increased foot traffic.
The Results
The event drew over 50 attendees, many of whom were small business owners or decision-makers. During the open house:
A local artisan furniture maker expressed immediate interest in leasing part of the space for their expanding workshop.
A film production company contacted me the next day, thrilled about the idea of turning a portion of the property into a temporary studio for their next project.
The buzz generated by the event led to follow-up inquiries from two other small businesses.
Within a month, I had secured leases for two tenants and was negotiating with a third. By shifting the focus from the property's limitations to its creative potential-and directly engaging with the right audience-I turned what seemed like a challenging listing into a success.
Target Specific Business Niches
Targeting businesses in specific niches can be an effective strategy for finding tenants for industrial properties. By focusing on particular industries, property managers can tailor their marketing efforts to meet the distinct needs of these businesses. This approach allows for more accurate matches between property features and business requirements.
Narrowing down the target market also helps in creating specialized advertising content that resonates with potential tenants. Consider implementing this targeted strategy to increase the chances of securing tenants.
Utilize Online Real Estate Platforms
Utilizing online commercial real estate platforms is another creative solution. These platforms have a wide reach and can attract a diverse group of potential tenants. By listing properties on well-known websites, property managers can take advantage of the high traffic these sites receive.
The digital nature of these platforms allows for quick updates and easy access to property information for interested parties. Start using these online tools to broaden your tenant search today.
Offer Flexible Lease Terms
Offering flexible lease terms can greatly enhance the appeal of industrial properties. Flexibility in lease duration, renewal options, and payment structures can attract a wider range of businesses. This approach caters to the varying needs of different companies, making the property more attractive.
It also demonstrates a willingness to accommodate tenants' unique circumstances and fosters positive landlord-tenant relationships. Consider offering flexible terms to make your property stand out.
Highlight Unique Property Features
Highlighting unique property features is essential in attracting potential tenants. Features such as advanced security systems, ample parking space, or proximity to major transportation routes can make a property more appealing. Emphasizing these distinctive qualities in marketing materials captures the attention of businesses looking for specific amenities.
A well-presented property with highlighted features can give it a competitive edge in the market. Showcase your property's unique qualities to draw in interested tenants.
Partner with Local Business Groups
Partnering with local business development groups can significantly aid in finding tenants for industrial properties. These groups are often in contact with new and expanding businesses that require industrial space. By collaborating, property managers can gain valuable referrals and insights into potential tenant needs.
This partnership can also enhance community ties and promote local economic growth. Engage with local business groups to tap into a network of potential tenants.