When it comes to multi-tenant properties, a well-thought-out mix of tenants can make a big difference in the success of a property.
Why?
Because it means a more harmonious environment, which leads to higher tenant satisfaction, more attractive spaces, longer leases and a better overall reputation. The upshot? Increased demand and stronger potential for higher rental income.
Here’s how to get it right.
- Find businesses that complement each other: Choose tenants whose operations enhance each other’s presence. This can lead to collaboration, increase foot traffic and create a positive atmosphere for tenants and visitors.
- Choose tenants with growth potential: Tenants with room to grow bring long-term stability. By saying yes to businesses that are on an upward trajectory, you position your property as a hot spot for success.
- Think about balance: A blend of retail, office, and service-based businesses can diversify your property’s appeal, attract a broader range of customers, and provide resilience in fluctuating markets.
Need help finding the right property for your portfolio? Get in touch today.
