And those centers that aren't in a competition for a Wal-Mart need to ensure that they have a unique mix of tenants or other factors (e.g., the rides and other amenities at the Mall of America in Minneapolis) that will draw tenants
and their customers.
"Even though the market has slowed significantly, proven areas will be okay -- buildings located along the Interstate 15 and Interstate 215-east corridors will continue to draw tenants
, but there is still some resistance to untested areas like Lake Park and the northwest corridor."
Class C buildings generally require modernization to compete or else landlords must position themselves to draw tenants
seeking the lowest possible rent.
Vacancy rates are just one factor.<br />"It's building-specific," he said in an interview.<br />Appealing floorplans and strong amenities will draw tenants
, he said, which will in turn draw buyers when a building goes on the market.<br />That was the case with 330 South Second in downtown Minneapolis, which sold for $20 million in March.
Turning old into new again will draw tenants
to Midtown, still the best neighborhood in Manhattan, according to L&L Holdings president Robert Lapidus.
Strain said to draw tenants
in, her company in many cases has doubled the free rent period from 60 to 120 days.
Watson said he hopes to draw tenants
from the Pleasant Hill, Dexter and Lowell areas.
The market-rate apartments are targeted to draw tenants
who work for Thrivent, HCMC and Hennepin County.
Individual buildings, rather than neighborhoods, have the ability to draw tenants
, Levinson said, citing the high ceilings, collaborative space, fresh air and floor-to-ceiling windows found in the plans for the many new office towers planned on Manhattan's far west side.
The Centre Court could be a trial balloon to see if sprucing up property on Broadway will draw tenants
and shoppers to the area.
Culture and image, rather than economics, are what draw tenants
to the area recently colonized by Google and other creative high-tech firms, he said.
"There's a different dynamic and it's the appetite for new construction," Van Buren said, noting that the quality of the new buildings at the WTC site would draw tenants
who had previously been wary to locate in lower Manhattan, which is perceived as less convenient for commuters.