How To Refresh An Aging Shopping Mall To Attract Tenants

Buying old or aging shopping centers for sale in California (CA) can be profitable if you have a strategy to refresh the mall and attract tenants. Some people think that shopping malls are dying due to the popularity of online shopping. However, you should remain assured that shopping malls will never die. Online shopping will never give you the same experience you get at shopping malls.

However, as you plan to invest in a shopping mall, you should remember that people want to shop in places that look safe, inviting, and fun. They also want shopping malls that offer more than just the shopping experience. People want places they can dine, take photos and enjoy the cool outdoor breeze. Therefore, it is important to maintain the appearance of your shopping mall from the street to the storefront.

When real estate properties are neglected, they can contribute to neighborhood decline, crime and even lower property values. When shoppers are given an enjoyable and welcoming environment, they stick around longer. They even spend more. Depending on the age of your mall, it may be time to consider upgrading it with the following tips.

Refresh the brand

You will need to think of your favorite brands and how you relate to them – your favorite clothing label, restaurant, or resort. The brand is the identity of your company and beyond that, it is the first impression for both tenants and customers.

A new style, logo, color and palette can freshen the brand. It is very important at this time to spruce up your website and social media. Buying commercial properties for sale is just one step to the real investment. There are other steps that will take your time but they are worth it. If you bought a prominent shopping center, you should rebrand to the merit media attention to direct people to your location in TV, newspapers, and radio.

More modern and elegant styles with language that high-end brands use may attract upscale tenants. You should, however, keep in mind that trying to rebrand your mall as upscale in a lower income or moderate-income neighborhood may not bear fruits.

Give the property a facelift

If your shopping mall is close to other shopping malls, you will need to step up and make sure your shopping mall’s appearance is better. You need to keep your shopping mall looking inviting and fresh. Updating the façade is the best place to start. The upgrade can be simple and cheap with a pressure cleaning treatment and a new coat of paint. You can consult a commercial painter on the right paint to apply to transform your shopping mall.

Curb appeal

If you can spend a lot of money on purchasing shopping centers for sale CA, you shouldn’t be threatened by spending money on the curb appeal. Planting trees and adding some beautiful flowers can give your shopping mall a new look. You should also work on the landscaping. However, you should remember that landscapers can make a lot of noise so you should avoid landscaping during working or peak shopping hours.