Commercial rentals can come and go quickly in high visibility areas. But since real estate is about location, location, location, low visibility commercial rental properties can sit for months. If you have properties sitting, then no one is making money. Advertising commercial rental vacancies is an art. To find out how to move all your properties, read on.
Market the commercial property to a specific industry. John L. Bowman writes in his commercial real estate book that "generalists are a dying breed." Don't generalize a commercial property. If it has been used as a medical space in the past, advertise it as such. If it has been a lawyer's office, advertise it as such. Market to the industry that fits the space.
Spread the word that there is a space opening up in a nearby building. Visit the neighboring businesses and let them know that you represent the commercial rental space. Introduce yourself. Find out who rents the neighboring space and what they do. Do your research on the surrounding clientele. Leave a flyer about the space on your way out.
Contact trade magazines. Place an advertisement in Lawyers Weekly to advertise lawyer rental space. Place an ad in a National Association of Realtor's publications. Place ads in local medical journals.
Price the rental space around that of the competition. Areas change, people move out, and businesses move in. The space where the commercial property is located may have increased or decreased in demand. Price the space accordingly and advertise it at that. You may get phone calls about the space without an advertised price, but only the interested will call if there is a price listed. Don't waste your time or theirs. Let them know what it is, where it is, and how much it is up front.