Visionary software platform finds innovative opportunities for properties to create additional income in activations and more
TORONTO, Dec. 23, 2024 /PRNewswire-PRWeb/ -- Congratulations, your shopping center is 100% leased and occupied. But is it 100% optimized to bring in every possible dollar in non-rental income? Probably not, and that's why Spacewise has expanded its award-winning software platform, which it recently brought from Europe to Canada and the United States, by adding new types of activations and territories.
Spacewise, the visionary new software platform that helps owners of vacant temporary spaces to attract retailers and brands that are looking book spaces and activations at consumer-facing properties, has long been a resource for traditional tenants and the owners to find each other. But what many owners don't realize, at least initially, is that seemingly endless possibilities exist for nontraditional uses and for exposure in locations that are literally around, behind and even above the shopper.
"There are more opportunities to generate income than just traditional leases with traditional stores and kiosks," said Brennan Wilkie, chief customer officer and president, Americas for Spacewise. "At Spacewise, we have continually expanded the types and numbers of opportunities that even the most successful retail landlords have unwittingly overlooked, leaving significant income behind."
To help landlords maximize revenue at retail properties, Spacewise has unveiled the latest version of its Next Generation Property Marketing Portal, which categorizes and catalogues just about every possible way a landlord can promote opportunities for brands and other businesses to gain exposure at retail properties from open-air neighborhood centers to large enclosed regional malls.
Traditional uses, of course, still abound — think of short-term leases of inline spaces, kiosks and retail merchandising units, activations in center court or static media on pylon signs, banners and posters. But to truly maximize the value of each square foot of a retail property, most of which is common area not designated as leasable space, brands and landlords literally need to think "outside the box," Wilkie said.
"Landlords/developers are missing out on huge revenue potential by not thinking opportunistically about creating immersive touchpoints with consumers in and around their properties," he said. "Look down, look up and look around."
For example, sidewalks are a perfect and profitable location for floor decals that can advertise a brand, as are door wraps and window clings. Advertisements can be projected onto walls or back-dropped windows. Murals and ads can be placed on exterior walls.
Nontraditional uses can be located throughout a retail property, including product sampling stations similar to offerings at wholesale clubs, or even on the roof, such as a 5G cell tower or solar panels (a great source of monthly rent with little to no cost to the landlord).
Outside, parking spaces can be temporarily repurposed as locations for food trucks or outdoor gyms. Car dealerships can display their goods or even create test drive tracks. Offering services such as windshield repair or auto detailing in the parking lot can be a huge convenience to guests — who can visit some nearby stores while they wait!
Speaking of services, consider monetizing the services you already provide by finding sponsors seeking exposure for your car valet, playgrounds, etc.
"We've recently seen an increase in media and sponsorship opportunities on our platform; not just of stationary installations (walls, etc.) but of events and places that create experiences, some even at multifamily and office buildings, such as sponsored dog parks," Wilkie said.
Managers can monetize an entire property by offering it as a location for movie and television filming and photography, from still fashion shoots to full-length features. Or your shopping center can be the site for immersive experiences, such as escape rooms and tech-enabled problem-solving games, or even cocktail parties. Traditional holiday offerings such as the holiday tree or Fourth of July fireworks can be sponsored, as can that guest Wi-Fi that once was a novelty but now is a given.
Existing specialty leasing tenants can also take advantage of these possibilities, adding experiences in the public spaces or even additional, seasonal storage. All can bring in significant income without diminishing exposure from existing traditional retail tenants.
The key for the retail landlord, then, becomes a way to find these brands and services.
Founded in Zurich, Switzerland in 2020 and with a North American office in Toronto, Canada, Spacewise's innovative and proprietary platform, created for marketing and leasing teams, allows owner/operators to ramp up the leasing process and manage leases and sponsorship programs in one, easy-to-use online platform. The platform can enable potential retailers and brands to easily see availability and terms to determine what type of space is right for them and has continued to expand the number and types of sponsorships, brands and retailers. This helps landlords enable a speedier, more targeted leasing process, which can reduce the total manual activity by as much as 90 percent; through this efficiency, landlords with large portfolios can process thousands of deals per year.
The results: Spacewise clients have seen specialty leasing revenue increase by as much as 10 times in the first year of implementing the program, and more than 30 percent year-over-year increases ongoing, according to Wilkie.
They key here is that for a owner/property manager to capture this potential, they need a highly efficient and scalable approach. On a big portfolio we're talking about thousands if not tens of thousands of deals per year.
A mainstay in Europe, the company is now working with building operators throughout North America including transport hubs, stores and municipal government as well as the traditional shopping center companies. From January 12 to 14, 2025, Spacewise will be featured in the National Retail Federation 2025 Innovators Showcase during the NRF 2025: Retail's Big Show at the Javits Center. In 2017, NRF created the Innovation Lab to highlight technology transformations coming out of fast-scaling retail startups.
"We've just begun to see and benefit from the possibilities that retail centers — real community cores — can provide to their shoppers and owners," Wilkie said. "As we continually add new brands, services and other potential uses to our platform, we are expanding the breadth of how shopping centers can entertain and serve their guests while increasing net operating income from non-traditional rental sources."
About Spacewise
Awarded the Best Retail Innovation Solution by MAPIC, the organizer of the annual international retail property market event, Spacewise is the leading software platform for flex-space marketing and leasing. Specially created to monetize any space in consumer-facing properties, Spacewise technology allows asset management, business development and specialty leasing teams to showcase property portfolios, strategically manage space inventory, and acquire more revenue from ancillary sources. Integrated online portals and automated workflows within the platform attract new tenants, qualify leads, and reduce the time and effort to close every deal. Spacewise enables leading CRE brands around the globe to find tenants, accelerate revenue growth, and improve property metrics. To learn more, visit www.spacewise.net and follow Spacewise on LinkedIn.
Media Contact
Debra Hazel, Spacewise, 1 201-618-5247, [email protected], www.spacewise.net
SOURCE Spacewise
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