Tips for Advertising Commercial Real Estate
Commercial property is an investment. Owners often lease out space within their commercial properties to tenants to generate income. When you’re renting out your commercial space there are important factors to consider, especially in your advertising, when it comes to attracting tenants who are a good fit. Learn how to advertise your commercial property for lease with these tips.
What type of tenant are you seeking?
As you’re planning your advertisements, consider your target audience. What type of tenants you’d like to have in the building or who’ll best be able to utilize the type of space it is. You want to put the ad in front of the market that’ll match well with your space to increase the chances of finding long-term tenants.
Ways to advertise your commercial property
1. Paid online advertising
Target your advertising in the right places online using pay-per-click advertising. When people search for the keywords you used in your ad, your ad will display in their search page results.[1]
2. Social media
Social media packs a powerful combination of visual-supported storytelling, a vast audience, and organic exposure from shares/likes/etc. Platforms like Instagram, Facebook and LinkedIn have features that can help you find the right audience for your story, too. This puts you in prime position to make an impact with beautiful property imagery and eloquent copy spinning that enticing back story a buyer can’t refuse. Be sure to stay plugged in to posts after sharing them so you can foster greater engagement through conversation. [2]
3. Commercial real estate listings
Consider sites that commercial real estate agents use to list properties. These professionals may be searching for spaces for their clients, too. Look into advertising in local real estate publications in print as well.[3]
4. Real Estate Trade journals
If it makes sense for you to do so, purchase ad space in reputable trade journals. If your commercial space already has equipment set up that pertains to a specific industry, for example, purchasing ad space in a trade journal can help you more easily target companies that can take full advantage of said equipment. [4]
5. Networking
The amount you get out of networking is dependent on the mentality you bring to it. Be persistent, use any helpful relationships you already have and when you see an opportunity to make a valuable connection, never hesitate. [5]
What to include in your commercial real estate advertisement
When creating your advertising, go for simplicity in your message, but keep the important details that communicate those key property features. Dot pointing these most important features can help you ensure you’re speaking to the right audience.[6] List the square footage of the space and pertinent details, like the address, to narrow down the interest to those who the space would really work for. Use simple, everyday language to convey information to viewers. Direct them to the property’s website to learn more information.[7]
Property details
On the main website, include a floorplan, and outline details about the space, including:[8]
• Access: Stairs, elevators, security desks, check-in areas
• Fixtures: Common spaces like bars, built-in desk areas, breakrooms, en-suite restrooms
• Technology: The space’s wiring and what it’s equipped to handle — high-speed internet, sound systems and other features
• Maintenance: What is provided for the tenant, if anything, should a breakdown occur?
• Parking: Explain what parking is attached to the space and any costs associated
• Build out: What, if anything, are you willing to provide to customize the space for a prospective tenant?
Use of property
List anything that could affect how a tenant can use the space. For example, if a building doesn’t allow animals, a pet-friendly business wouldn’t be a good fit. This could also include listing any permanently installed equipment.
Amenities
Note things of value, such as proximity to public transportation, building perks like social hours for all tenants, janitorial services and even other tenants’ lines of business. A company might be interested in onsite daycare and benefit from knowing there are options for workers.
Lease deals and incentives
In commercial leases, the tenant may pay a share of the taxes, insurance and maintenance proportionate to their share of the building.[9] Note this in your advertising; this type of lease — called a triple net — can appeal to businesses if it equates to a lower cost on the actual rent, although it can also result in higher maintenance costs for the landlord if the tenant doesn’t report damages to avoid paying for them. The tenant does have to pay insurance deductibles under a triple net lease, however, so the risk may balance out[10] When drafting your ads, include this so that tenants can weigh their potential costs correctly.
Consulting a real estate broker who’s skilled in commercial transactions makes sense. These professionals can help make sure everything is lined out in the lease agreement so that each party understands various responsibilities. When you’re advertising, there may also be some rules and regulations that you’ll need to follow. Checking in with a commercial broker or a commercial real estate lawyer can help you to avoid potential issues with any advertising.
As you begin the search for new tenants, make sure you’re satisfied with your commercial property insurance policy covering your commercial building. Contact an insurance agent to discuss your coverage, whether you need equipment breakdown coverage or additional protection for other aspects of your property.