Showing retail / office space before renovations

[Alan G.]

I recently acquired a mixed use property. The retail stores / offices have recently been vacated. The spaces are not in terrible shape but absolutely need work. The question is do you wait until I have an interested tenant? I’m thinking most would be need to be customized anyway. Or, do I clean everything up including flooring and paint before I start to show?

[Joel Owens]

Depends on if your highest and best use is for national, regional, or local mom and pop tenant. Their process to look at space, sign an LOI, and do a lease and timeline to perform with what they require will be very different.

So research who is the ideal tenant and then decide best way to approach.