Why I Let Tenants Move-In Rent-Free (For a Year!) | Episode 55: I Own a Shopping Center, Now What?

Beth Azor

Content provided by Beth Azor. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Beth Azor or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

2M ago 8:09

MP3•Episode home

What do you do when a great property refuses to lease up—despite all your best strategies? In this episode, I share the full story of one of the toughest assets in my portfolio: a 24,000 SF strip center right across from Sawgrass Mills Mall that should’ve been a slam dunk. But thanks to poor visibility from outparcels, it sat at 60% occupancy for years. I tried everything—canvassing, broker incentives, Facebook ads, even a party. Nothing worked.

Eventually, I swallowed my pride, hired a third-party broker, and together we came up with something bold: offer one year of free rent—no TI, full guarantees, no gimmicks. That single shift caught tenants’ attention and changed everything. We fully leased the center in five months and ended up selling it shortly after. If you're feeling stuck with your leasing strategy, this episode is the permission you need to shake things up.

Key Insights:

✔️ Even experienced owners sometimes need outside help

✔️ Lack of visibility can kill demand—no matter how strong the market

✔️ One year of free rent (with no TI) can still create a win-win

✔️ Pressure with urgency—“clock starts in January” drove action

✔️ Creativity and humility matter as much as hustle

✔️ When leasing stalls, shake up the system and brainstorm hard

If you're feeling stuck on a tough leasing deal, this episode is proof that sometimes the best move is the bold one. Don’t be afraid to pivot. Your next lease might just need a different play.

263 episodes

#Business #Book Club #Beth Azor