Understanding where a market lacks specific retail businesses can guide leasing decisions. A vacancy does not always signal an opportunity, but a missing type of store might. Tenant gap analysis compares the businesses serving an area with a reference market to identify gaps. This process narrows the search for a new tenant by highlighting categories or specific businesses that deserve more research.
SiteSeer for ranked tenant prospects
SiteSeer offers a direct approach for leasing teams that need a ranked list of prospects. Its Void Analysis studies an area and returns tenant matches with a Match Score and a Cotenant Score. These scores provide more context than simply seeing nearby businesses on a map. Users can start the search with a shopping center, an outparcel, or a standalone property. The tool allows filtering by category, size, number of locations, center type, or region.
Defining the search area with a radius, drive-time zone, or drawn polygon helps match the market under study. A missing category may point to several potential businesses. Users must check each candidate’s space needs and current tenant mix to decide which belong on the list. The Match Score describes how the software compared the candidate, but it does not indicate the likelihood of signing a lease. The report does not confirm that a retailer wants the property. Users still need to research growth plans, lease requirements, and access. SiteSeer provides different purchasing options, including Void on Demand starting at $199 and Void Unlimited at $355 per month.
Unlike a simple list, these scores help filter out retailers that fit the category but do not suit the specific property. This filtering saves time by removing obvious mismatches before a lease team invests effort. When a gap analysis returns many candidates, the scores act as an initial screen, forcing the team to justify why a lower-scoring tenant should be pursued.
ArcGIS Business Analyst for reference-area comparisons
ArcGIS Business Analyst Web App Advanced includes a built-in Void Analysis tool. This feature compares businesses and their categories in the chosen area against a reference area. It finds absent types and gaps in the counts. The tool also integrates demographic and business data, allowing users to perform the analysis alongside other market research in one platform. Users can choose a reference area carefully, ensuring it makes sense for the comparison and uses consistent definitions for business categories.
Results can be exported to Excel or a report file, though including each business location uses credits. A category review and a detailed prospect export therefore have different costs. The Advanced license is required for the built-in void tool, as the Standard edition does not offer the same functionality. Business Analyst adds household, spending, and business data to this work, helping teams decide if a gap is worth pursuing. However, local business data completeness and property suitability still require manual verification. A missing record does not prove that no business serves the market.
Maptive for an analyst’s tenant inventory
Maptive is useful for teams that already maintain tenant and property records and want to visualize where they are located. The software allows users to create summaries for each building that include tenant categories, property fields, and lease dates. Marker groups and filters help study how those records are spread across a site. Users must prepare their own benchmark for categories or demand, comparing the mapped tenant list against that external data.
Commercial real estate mapping software like Maptive can display the tenant list alongside data about places and their markets. Teams can filter categories and examine nearby properties, sharing maps with coworkers for review. This approach suits organizations that want to manage their own working tenant list and spot records that need closer examination. A tenant category may require updating after a lease change, but users must ensure those records are current and explain how the outside benchmark was chosen.
Using the map to guide leasing research
After a gap report, narrow its candidates to a smaller list of prospects you have checked. Check if a business serves the area under another name. Check that its locations are current and that your category definitions match the comparison. An incomplete tenant list may show a gap that disappears after those checks.
A broad label, such as ‘food service,’ may conceal significant distinctions between businesses like restaurants, takeout counters, and cafes, which cater to different needs. Conversely, a narrow label may reveal a gap even if a business offers similar services under a different category. To maintain transparency, it’s essential to retain the original category alongside any newly created groups, allowing leasing colleagues to question grouping decisions without having to rebuild the entire tenant list.
Then check the property against the business’s needs. Floor area, permitted use, and delivery access can rule out a candidate that seems to fit the market. Parking and lease terms can do the same. Keep a reason for each candidate you remove so you can explain why the others remain.
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