Most commercial vacancies sit on the market longer than they need to. The culprit is rarely the property itself — it is almost always a combination of incorrect pricing, insufficient tenant targeting and a process that creates friction rather than momentum.
Price the Space Correctly at Launch
The most common landlord mistake is launching at an aspirational rent, sitting vacant for three to six months, and then conceding on both rent and tenant improvement allowance. The result is worse economics than a correctly priced space that attracted competition and leased in 30 days. Current asking rents are verifiable — Lucero benchmarks every mandate against closed transactions, not listed comparables.
Target Tenants Directly
Listing on CoStar and LoopNet reaches brokers. It does not reach the national retailer whose real estate team is reviewing expansion targets, or the industrial operator whose lease expires in eight months and hasn't started looking yet. Direct outreach to a curated list of qualified tenants — by sector, size, expansion mandate and market — consistently outperforms passive listing strategies.
Reduce Friction in the Process
Qualified tenants have choices. A landlord who takes two weeks to respond to an LOI, requires three rounds of legal review before sharing a floor plan, or insists on tenant financials before a basic site tour will lose tenants to more responsive landlords. Speed and transparency in the early stages of a leasing discussion materially affect outcomes.
Structure the Incentive Package Correctly
Tenant improvement allowance, free rent and lease term interact. A higher TI allowance against a longer lease term can deliver better landlord economics than a shorter lease at a slightly higher net rent. Model the net present value of different incentive structures before committing to a term sheet — the headline rent is only part of the picture.
What Lucero Does Differently
Every Lucero leasing mandate begins with a market positioning review, a target tenant shortlist and a direct outreach campaign — not a portal listing. We measure success by lease execution, not listing activity.