Analysis of customers to occupy a commercial space
December 19, 2024
Context
A commercial property manager who lost a major tenant in one of his shopping centres is looking to analyze his rental offerings to reassess the positioning of his property in the region.
Challenge
With a large rental space now vacant, the shopping centre is considering renovating it to accommodate smaller, more diverse tenants. However, the challenge is how to find and reach these qualified leads.
Innovation
Indicia conducted an analysis of the sector’s commercial offerings to identify industries underrepresented in the area, highlighting those that would benefit most from establishing themselves in the location. The analysis covered about thirty economic activities (e.g., pet shops, dry cleaners, florists, pharmacies, food services, etc.) and assessed the saturation level of each sector in the market. These industries were then ranked based on the potential benefits they could gain from the opportunity, with the highest-ranking industries prioritized. More than 75 major brands from these sectors were identified and documented, including the names, phone numbers, and emails of key contacts. Ultimately, the mall manager was able to reach out to the ideal companies to present his renovation plan and its benefits.
Results
Following the analysis, the shopping centre was renovated at a reasonable cost and has remained fully leased within 18 months, continuing to maintain full occupancy even several years after the changes.
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