COSTA MESA – The Orange County Chapter of the Building Owners and Managers Association (BOMA) brought together a panel of industry leaders on April 28 to address ‘Romancing Your Existing and Prospective Tenants.’ The discussion focused on the most effective strategies in attracting new tenants and maintaining strong relationships with existing tenants.
Coreland Senior Vice President Cheryl Todd, who was was joined by Michael Prabhu of Pacshore Partners, Garrett Macklin of LBA Realty, Chris Gash of Irvine Company and moderator John Combs of River Rock Real Estate Group, emphasized that maintaining good relationships with your tenants always comes down to great communication.
“When you are dealing with a potential renovation of a property, for example, it is imperative that you communicate proactively with your tenants. Share updates as frequently as you can so they can understand, prepare and plan for the impact it might have on business.”
All panelists shared that today’s technology is both “a blessing and a curse” in terms of tenant communication.
“It is so easy to communicate with your tenants via email that sometimes I worry if messages are getting diluted,” shared Gash. “I believe all managers need to have strong communication strategies in place. There are many instances in which face-to-face meetings are just more effective.”
“I have found that you can always come up with solutions when meeting in person,” said Prabhu. “Sometimes it is harder to resolve issues when you are relying on the exchange of emails.”
The panel discussed popular amenities which are drawing the attention of new office and industrial tenants. However, in the retail environment, the most effective amenity is a clean, well-managed center that is conducive to strong sales.
“The retail world is different from the office and industrial environment. The customer is our ultimate client because it’s the customer that makes our tenants profitable. As managers it is our priority to do everything we can to operate a clean, safe and accessible shopping center. This is what can positively affect a retailer’s gross sales.”
For more information on BOMA Orange County, please visit http://www.bomaoc.org/.