In a bold move to revitalize the Embarcadero Center, Boston Properties (BXP) is taking an unconventional approach to filling vacant retail spaces by sliding into local businesses’ DMs with irresistible offers.

The real estate giant has been strategically targeting local brands through social media, offering them free rent and creative lease terms to breathe new life into their four-block Financial District complex. By crowdsourcing recommendations from their own employees and directly messaging promising businesses, BXP has successfully recruited eight new tenants like Cheeky Bits and Burger Littles.

Christine Yuen, a senior VP of leasing at BXP, explained their innovative strategy: “Prior to the pandemic, this kind of outreach wasn’t common. We’re now visiting stores, farmers markets, and directly messaging potential tenants to fill our spaces”.

The approach has been mutually beneficial. Local businesses like B12 Love and Burger Littles have received nearly six months of free rent, followed by a modest percentage-based rental agreement. In return, BXP gets to transform empty storefronts and potentially increase foot traffic in their office complex.

With office spaces currently 85% occupied and retail spaces at 70%, BXP is betting on creating a vibrant ecosystem that attracts both businesses and customers. Their strategy goes beyond traditional leasing, focusing on community engagement and supporting local entrepreneurs.

Nina Veaco from Cheeky Bits, who opened her candy store through this program, praised BXP’s proactive communication. “I’m getting more foot traffic than I expected, and the entire process has been incredibly smooth,” she shared.

As San Francisco’s commercial real estate landscape continues to evolve post-pandemic, BXP’s creative approach might just set a new standard for urban revitalization and small business support.