Here’s an interesting technique being used by the agents for the Meridian Plaza (press release pasted below). What do you think? Will this offer yield results?

BELLINGHAM, Wash. (Nov. 10)- Meridian Plaza launched today its new Tenant Referral Program, a refer-lease-and-earn campaign that promises $2,500 cash for each referral that results in a three-year lease at the newly renovated retail center, located adjacent to I-5, at the intersection of Telegraph Road and Meridian Street in Bellingham.

Meridian Plaza is owned by an affiliate of Hackman Capital Partners, LLC (HCP).

According to Mike Schlesinger, Vice President of Asset Management for HCP, the company excels at creative marketing that attracts tenants to properties, and knows from experience that tenant referrals tend to be qualified prospects who are more likely to sign leases.

“We’ve had great success when tenants refer other tenants,” said Schlesinger. “Now we’re asking Bellingham businesses to send us people they know. Businesses want to keep consumer dollars in the neighborhood.”

The new Meridian Plaza Tenant Referral Program was designed to complement an existing sister program geared to area real estate brokers. The broker program offers leasing bonuses, also $2,500, for each referral that results in a three-year lease, plus $50 bonuses for each property showing.

“We want to spread the word,” said Schlesinger, referring to the recent 32,000 square foot makeover at the retail center. Renovations, which totaled nearly a half-million dollars, feature a new brick and stucco façade, newly designed storefronts with canopies and fabric awnings, a newly resurfaced and restriped parking lot with wheel stops, sidewalks with new concrete benches, new monument signage, lighting, painting and other improvements.

According to Schlesinger, Meridian Plaza’s architectural transformation and prime location in Bellingham’s busiest shopping area—combined with exceptionally aggressive lease rates—create a compelling package for both national and local retailers, as evidenced by its already growing tenant roster, including Rent-A-Center, Red Wing Shoes, Maly’s, Better Nails, Hair 4 You, Thai House Restaurant—and two free-standing restaurant sites, occupied by Burger King and Denny’s Restaurant. Available spaces at Meridian Plaza range from 1,347 to 6,724-plus square feet, with a total of 12,845 square feet available for lease.For more information about Meridian Plaza, visit the website at meridianplazabellingham.com.