If you bought a shopping center with a short-term loan—bridge, mezzanine, or hard money—you probably have one mission: increase NOI fast so you can refinance. When that clock is ticking, your leasing strategy needs to change. The first mistake I see owners make is misreading the market. If the market rent is $15 but you’re holding out for $20 because an online report told you that number, you’re wasting precious months. When you have a deadline, you must know the real market—by walking properties, talking to leasing agents, and confirming vacancy levels yourself. If the market is soft or vacancy is high, sometimes the smartest move is to get aggressive early. For example, you might offer a discounted first-year rate that steps up over time—$8 in year one, $12 in year two, and market rent by year three. This helps you fill space quickly and grow NOI, which is what your lender cares about. You can also create urgency with your leasing team. Instead of the standard commission, offer short-term “bounty” bonuses for specific spaces that must be leased by a certain date. Large REITs use this tactic all the time to move stubborn vacancies. Finally, remember that timing matters.

Renovating a shopping center can increase value, improve visibility, and boost tenant sales – but if you’re not careful, it can also disrupt the very businesses that pay your rent. When I started a major renovation on one of my centers, one of the first things I focused on was who would actually be running the job day-to-day. Not just the general contractor – but the superintendent on site every day. This person will interact with your tenants constantly, so customer service matters just as much as construction experience. Remember: you’re renovating an operating business environment. Your tenants are open, serving customers, and trying to make money. The last thing they need is chaos. Here are a few Rockstar strategies I use during renovations: Renovations are also a great opportunity to renegotiate lease terms. If you’re helping tenants upgrade signage or improving the property, you may be able to trade for things like removing outdated options or improving lease terms. Rockstar Tip: A renovation should increase value for both you and your tenants. Plan every step around one goal: improve the property without hurting tenant business.

If you have vacant space heading into the holidays and you know it won’t lease before January, don’t let it sit empty. Use that time to test seasonal pop-ups. I’ve done this many times in my centers. The idea is simple: offer a retailer a short-term opportunity – typically November through December (sometimes longer) to test the market. I’ll often offer the space free for a few months, as long as the tenant covers utilities, provides a security deposit, and takes the space as-is. They bring their merchandise and staff, and we both see what happens. The best candidates for holiday pop-ups are destination retailers with merchandise: toy stores, sneaker shops, sports apparel, tennis gear, hobby stores, or seasonal concepts. These businesses can generate strong holiday sales and benefit from a temporary location with built-in traffic. Pop-ups aren’t just about filling empty space – they’re about testing future tenants. Two of my long-term tenants actually started as pop-ups. One expanded multiple times and now occupies thousands of square feet in my center. Even if the pop-up doesn’t become a permanent tenant, you still win. The space is activated, new customers are introduced to the center, and your property feels vibrant

If you own a shopping center but don’t live in that city, you still need to be deeply involved in the local community. Leasing isn’t just about brokers and listing platforms – it’s about relationships. When you own one, two, or even a handful of centers, I strongly recommend visiting them regularly. Ideally, monthly. Walk the property, drive the surrounding market, and make sure you’re visible in the community. If you truly can’t do that yourself, assign someone who can – your leasing agent, property manager, or a trusted local representative. One of the best things you can do is join the local Chamber of Commerce and get to know the economic development director in that city. These relationships can generate leads and help solve problems. I’ve had deals come directly from chamber meetings, and I’ve had permitting issues resolved quickly simply because I knew the right person to call. When you attend chamber events, don’t just say you have vacancies. Be specific. Instead of saying, “I have space available,” say, “I have a former hair salon space that would be perfect for a barber,” or “I’m looking for a small insurance or real estate office.” Specific requests stick in