Securing a retail space is a significant milestone for any business owner. However, landlords are crucial in determining who gets to lease their property. It can be very competitive to lease certain spaces. In the market that I focus on — the Inland Empire region of Southern California — our vacancy rate is currently at 6.1%, the lowest it has been in 15+ years. Furthermore, out of that 6.1%, many spaces are not prime retail spaces.
To make an informed decision, landlords carefully evaluate several factors when assessing potential tenants. In this article, I will delve into the key considerations landlords look for when leasing a retail space. I’ll explore the importance of a solid business plan, a comprehensive marketing strategy, a compelling pitch deck, relevant industry experience, creditworthiness and the applicant’s net worth.
