CRE 101 - New LL First Acquisition 49k sf Office Class C - What are the best online sites to market property on
As the title states....

What are the best sites for a new broker to market office space and get the best bang for the buck with the most eyes.

First deal
[{"id": "iqp43qc", "text": "I mean, the drawback with any online site is a lot of tire kickers, people that aren\u2019t really qualified and just looking. LoopNet is my go to. But I\u2019d rather hire a good office broker from CBRE, JLL or C&amp;W.", "replies": [{"id": "iqpcz8n", "text": "Makes sense! \n\nThere's a small regional broker that has his boards on every D office building near by. This sib market is already saturated and makes me question why they wouldn't pull my remaining tenants out of my building and place them into another one of their buildings.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iqp6tzb", "text": "49k contiguous? can one tenant occupy the entire building? Are you a broker?\n\nI'd be cold calling any 20k+ sf tenants with upcoming renewals (only if they are currently in class c or below). Sites likely won't get you very far but I don't know what your markets vacancy rate is.", "replies": [{"id": "iqpcheb", "text": "We are 40% occupied.\n\nSpaces vary in size from small individual offices 120sf, to a large 7k sf old doctors office built out.\n\nI'm cold calling various tenants from diff buildings near by. \n\nLooking for any other ideas.", "replies": [], "depth": 2}, {"id": "iqpd2wg", "text": "broker - 49k contiguous if I modified the walls.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iqpts8q", "text": "Honestly - hire a broker. Office is tough enough as it is. \n\nCostar crexi and loopnet is the answer you are looking for.  Expect to pay a lot of TI and free rent. Office space even in a hot sunbelt market like mine doesn\u2019t move. \n\nGet over your fear brokers will steer tenants to their other properties.  They will probably steal more of your tenants if you don\u2019t hire them given it\u2019s a small market . \n\nPay the agents market rate but expect a (very) slow lease up. Office market sucks everywhere. That\u2019s likely why a first time landlord like yourself was able to buy an asset like this - the big boys and local experts are not. \n\nHonestly - unless you are a hustler,  quick learner and willing to invest significant capital, I see this endeavor ending in failure.  Office is too hard right now for cheapskates and anxious owners without direction. That being said, good luck and go get it!", "replies": [{"id": "iqptwwf", "text": "I was told by another broker tonover inflate TI and roll it into improving the common areas. \n\nWhat does that mean?", "replies": [{"id": "iqpud7g", "text": "That statement doesn\u2019t make much sense. I haven\u2019t heard it phrased like that in the years in the biz.   But he was saying put $$$ into improving common areas", "replies": [{"id": "iqpup5q", "text": "Pardon my low IQ in this, but what does high TI allowance vs low TI allowance really mean if I'm ultimately doing the work my self.\n\nOr are we saying whatever TI $$ they add into the space we will give them free rent for that amount?", "replies": [{"id": "iqpuy4d", "text": "Free rent is outside TI allowance. \n\nHigh TI - you spend lots on your $ to improve. Low TI - not spending much. \n\nIf you can cut costs by doing the work yourself, excellent. \n\nMy willingness to spend would be entirely on the market. I wouldn\u2019t put any money into office unless I knew it was a can\u2019t miss location/property. Office is just too risky at the moment for good capital in most cases.", "replies": [{"id": "iqpvu50", "text": "This building hasn't had any renovations since 1987, still in relatively decent condition but I need to get new blood in their. Avg rate in this area is 12 to 18 a ft.\n\nI'm willing to go 5 a ft just to put thebleases in place and then go from there after a yr of maturity. \n\nI have larger suites that I've intentionally kept empty for a yr.\nA 2300FT\nB 3000FT\nC 7000FT\nD 2300 FT\nE 1800 FT\nF 2700FT\nG 1500FT\nLarge Spaces Total empty Approx 20600FT\n\nThinking of the best way to appeal to larger tenants immediately.", "replies": [{"id": "iqpwnyw", "text": "$5 PSF won\u2019t get you far. Need to know more about the building. Praying it\u2019s not multistory .", "replies": [{"id": "iqpwx1c", "text": "2story\n\nLowest in my area is $12psf. \n\nI'm glass half full and love the challenge.\n\n40 to 50% is still empty.", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "iqqs1su", "text": "I started off with 140sf office in that building 5y ago hustled in my field, dropped out of mdd and law school, grew my business, learned quick, and made all the nay sayers including tenants watch as I grew and bought the mansion. \n\nMost commercial guys I've spoken to, mostly brokers, seem like the type to take weekends off and don't embody the true hustling mentality. Office is hard but as a previous poster said, the right class C space will be filled in but sacrifices will need to be made by owners.", "replies": [{"id": "iqr111w", "text": "Craigslist and Facebook marketing.  New flooring, neutral paint, led lights and replace ceiling tiles. It\u2019ll look new", "replies": [{"id": "iqraxqa", "text": "Not sure where in FB market place we can list office space. All I see is residential. \n\nI'm going to have this thing 80% occupied very soon.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iwoabzq", "text": "I would convert the space into a co-working space. Co-working space is the new trend right now and is in high demand", "replies": [{"id": "iwoalg2", "text": "Define co working. Just an open space with desks lol. How do you market that to tenants? I'd rather have an Allstate or some training center vs a conforming space aimed towards millenials", "replies": [{"id": "iwoatxo", "text": "Actually, now that I think about it, it would be really hard.\n\nIf you had a class A in a desirable area, co-working would be easier to lease.\n\nLook up Regus. Most of their offices are class A/Class B+", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]