Market Your Space

High vacancies and lower cash flows are putting the squeeze on marketing dollars. Beau Beery, CCIM, CPM, vice president of commercial real estate at AMJ Inc. in Gainesville, Fla., shares his winning strategies.

April 1, 2011

Change the name. If you have a building or office park that’s been languishing, a new name can buy a fresh start. For example, Beery just changed Tower Medical Center to Tower Office Center to attract nonmedical tenants. (Cost: $500 for new signage.)

Remove space square footage from all on-site marketing signs. That way more prospects will call to find out the size. Once you’ve made contact, you can direct them to appropriately sized space elsewhere in your inventory. (No cost.)

Move your signage around the property every three or four months.  Signs become invisible after a while. A new placement or color attracts attention. (Cost: $150.)

Create video tours of vacant space and amenities and post them on YouTube to attract out-of-state tenants.  Send a link as a reminder for prospects. (Cost: $100 for digital video camera.)

Contact current tenants every six months and ask for referrals. (No cost, although you might want to give a gift card if a referral signs a lease.)

Start a local group on LinkedIn. As manager of the group, you can easily post property updates and announcements. (No cost.)