Retailers usually choose not to extend their lease for two main reasons: weak market or high lease cost. The vacant spaces aren’t only income loss to landlords; in high numbers, they give the bad impression that a commercial building is a less desirable area, driving both consumers and investors away. If you’re the owner of an Anchorage commercial real estate, here are ways to fill those vacant spaces:
Subdividing. If you have a very large retail space, you can divide it to entice smaller business owners, particularly the startups, to set up shop. These smaller interior retail stores can attract entrepreneurs looking for cheaper alternatives to bring their product to the market. Plus, variety creates greater traffic, benefitting everyone within the retail area.