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Tenant Retention Tied to Relationships

LIVINGSTON, NJ-In good times and bad, the key is to develop trust between tenants and landlords, say NJ-NAIOP panelists.

By Eric Peterson | Updated on January 22, 2009

LIVINGSTON, NJ-Market numbers are weak across all commercial real estate sectors these days, and keeping tenants in place would seem to be more important than ever. But the message offered up by panelists at a NJ-NAIOP meeting here was that relationships built on trust are the key to tenant retention no matter the economic climate.

The topic was “Tenant Retention in Trying Times.” Moderator Bob Palestri, a partner with the Property Institute of Long Beach Island, was joined by panelists Glenn Buie of First Industrial Realty Trust in Pine Valley, John Marazzo of Mack-Cali Realty Corp. of Edison, Seena Stein of Newmark Knight Frank in Rutherford, Andrew Zezas of Real Estate Strategies Corp. of Kenilworth and Michael Schofel of the locally based Eastman Cos.

“Relationships begin far before the lease is signed,” Zezas said. “They start the first time a potential tenant visits a building. How the negotiations go from that point give the tenant a perception of the landlord. It’s important to start with a positive foundation.”

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