The Columbia area is one of the fastest-growing locations in Maryland, and its population is growing by nearly 35%. The city has approximately 10,000 registered small businesses. The business community even created an Economic Development Authority to drive more economic opportunities to the area.
As a commercial property owner, you play a central role in developing Columbia's business community and local culture. Thus, it's critical to identify the right buyers and commercial tenants who can contribute to Columbia's growth.
Identifying the right leads is one of the first commercial property marketing strategies for investors.
Discover more property marketing tips in this investor's guide.
The Columbia Commercial Real Estate Search
The marketing process doesn't start with a property listing. It begins with the property search.
First, understand the different commercial property types that are available. Remember, some apartment buildings are considered commercial properties, depending on the zoning.
Types include:
- Retail spaces and storefronts
- Office buildings
- Industrial buildings
- Warehouses
- Mixed-use properties
- Hospitality (hotels and motels)
- Power centers (i.e., strip malls)
- Commercial showrooms
- Art and music studio spaces
- Restaurants and cafes
Next, identify the consumer needs in the community. Analyze business trends during this step. Which niches have failed and thrived in the area?
Does the Future Look Bright?
Look at area performance forecasts.
Is the location considered an "up-and-coming" area? Is it the hub for a particular industry or college? Is it known for its school districts?
Consider every piece of information to assess community needs.
For example, suppose a new company headquarters is set to move into the area.
Look at the location of the building and any surrounding empty buildings.
Could the area use the following services?
- Cafes
- Print shops
- Dry cleaners
- Consumer electronics stores
- Organic grocery stores
- Bookshops
- Gyms
Think about the needs of the employees of that building. What are they looking for on their lunch breaks or after work?
Attracting the Right Commercial Tenants
If you're in the investment property industry, you'll want to attract commercial tenants. Tailor your marketing to attract responsible, long-term tenants with a track record of success in their industry.
Suppose, you identified a need for an office supply store in the area. Create a digital (and traditional) marketing campaign to attract relevant tenants.
Since there's so much at stake, property management solutions can capture the right tenant for the space. A property manager can also work with the business community to find tenants with greater long-term potential.
Commercial Property Marketing Strategies
Similar to residential real estate, you'll need to craft property listings with the following information:
- Photos of the interior, exterior, and property grounds
- A description of building amenities
- Lease terms
- Contact information for property management
- Description of location
- Ideal tenant specifications
A property manager will cross-promote the listing on Facebook and Instagram. A property management company can also syndicate the listing across all major real estate rental sites.
Looking Forward
Continue to measure results for marketing success, even after a lease is signed. Commercial lease insights can provide further data for profit optimization.
Remember the above tips for lead capturing, market research, property listings, and more.
The team at PMI Mason Dixon has a suite of property management tools to help you discover high-potential properties, identify tenants, and maintain properties for optimal returns.
Schedule a consultation to discuss your goals for commercial property marketing strategies.
