You see a commercial property in Baner. Prime location. Good building. Good connectivity. And yet… it has been sitting vacant for months.
So, what’s happening? Is there no demand for commercial properties? Not necessarily.
One thing we are seeing in the market is that commercial supply has increased significantly. New commercial projects keep coming up, existing buildings have vacant units, and tenants today have become more selective because they have specific requirements and, with so many options available, they can choose what suits them best.
They are asking:
Does this space actually work for my business?
For one business, ground-floor visibility may be the most important factor. For another, parking may matter more. For an office, the floor plan, employee accessibility and building facilities could be the deciding factors. For a clinic, accessibility and parking might be critical. For retail, visibility and surrounding footfall can make a huge difference.
So even within a prime location like Baner or Balewadi, not every commercial property will attract the same demand.
And then comes the biggest factor — pricing.
Owners naturally want the best possible rent for their property. But tenants are comparing multiple options.
If a similar property nearby offers better visibility, better parking, better amenities or simply better value at a similar price, the decision becomes quite obvious.
This is why a vacant commercial property doesn't always mean:
Sometimes it means:
The property hasn't found the right tenant at the right price with the right positioning.
And this is where commercial property leasing becomes more than simply putting up a “To Let” board.
You need to understand:
→ Who is the right tenant for this property?
→ What does that tenant actually need?
→ Is the asking rent realistic?
→ Is the property being marketed to the right audience?
→ What are competing properties offering?
Because a prime location can get a property noticed. But the right positioning, pricing and tenant targeting can get it occupied.
At CURA, this is something we see closely while working with property owners and commercial spaces in Pune.
What do you think is the bigger challenge for commercial properties today — supply, pricing or finding the right tenant?
If you own a commercial property in Baner, Balewadi or other parts of Pune and are looking for support with leasing or managing your property, get in touch with the CURA team.