Office/retail leasing - tenant acquisition pointers for broker.
What would you say is most effective way you go about finding a commercial tenants? Other then the obvious loopnet listing.
[{"id": "gqug70y", "text": "I own several commercial properties.  Retail shopping center, multiple stand alone retail buildings, and some industrial spaces.  I\u2019ve filled vacancies several different ways lately.  For some of my larger spaces, I called up businesses that I thought would be a good fit for the space.  One of my warehouses was previously a HVAC supply company, so I reached out to all of HVAC companies in my area to see if they were looking for a space in my area and I was fortunately able to get a tenant.  Some of my smaller retail spaces were filled by a simple Facebook marketplace ad.  Other than that, I generally just list online in the usual places and put up a sign.", "replies": [{"id": "gquyxbi", "text": "Aka cold called. Nice work.", "replies": [], "depth": 2}, {"id": "gqxdgan", "text": "Great strategy! Have you ever thought of short term leases? Check out this platform [PiknPop](www.piknpop.com). I talked to a couple brokers and they find it interesting. I\u2019m interested how you feel about it from an owners perspective!", "replies": [{"id": "gqxp1an", "text": "Interesting concept, but I\u2019m not personally a fan of short term rentals.  I prefer passive income from long term rentals, rather than actively managing short term rentals.", "replies": [{"id": "gqxsejy", "text": "Would you use at as an alternative if you were having trouble filling your vacant properties?", "replies": [{"id": "gqxuoom", "text": "I suppose you have to take what you can get.  I have a couple spaces that I\u2019m renting out for way too little, but I figured something is better than nothing.  I have one impossible to rent space rented out as a gross lease for only slightly more than the NNN costs.  At least they are paying the expenses.", "replies": [{"id": "gqxwnsx", "text": "Thanks for the insight! I\u2019ve been trying to gain insight from CRE owners/landlords...it\u2019s been tough", "replies": [{"id": "gqxz35h", "text": "I do have one small building in New Orleans that has been vacant for a couple of years, which really sucks.  The space is 4500 SF and I listed it with a commercial agent who assured me that he could easily get $20/sf NNN ($7500/mo NNN).  Unfortunately it didn\u2019t get rented after 2 years.  I just recently decided to drop the rent and list the space myself.  I put up a sign on the building that says FOR LEASE - 4,500 SF - $4,500 /mo NNN.  At only $12/sf, it should affordable for many more small businesses \ud83e\udd1e.", "replies": [], "depth": 7}, {"id": "gqy59af", "text": "Hopefully the lower price attracts a new tenant!", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gquinln", "text": "You should be making about 10-15 cold calls to businesses that might fit the bill every day.", "replies": [{"id": "gqutq9c", "text": "This is the truth! I hated brokerage/sales so I got a job on the investment side after 5 years of struggling to build a client Rolodex. The one commonality between extremely successful brokers is that they all cold called every morning or night, or had a team of young brokers making cold calls. If you\u2019re not willing to do it, might want to make a pivot. It\u2019s sales. \n\nIf you\u2019re just starting out, having mentorship by successful brokers is key as well.", "replies": [{"id": "gqv9kzz", "text": "I tell my juniors on the fact that since we're so active in the product/neighborhood that they're actually \"warm\" calls", "replies": [{"id": "gqxjea5", "text": "Phone fright is a real thing.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gqv9gi8", "text": "Only clarification, prequalify. Who would make sense for this space? Why? Personal take, have all of that stuff together before calling. Smiling and dialing can work 1/100 times. Smiling, dialing, and having a strategy and valid business reason for touching base goes a bit better.", "replies": [], "depth": 1}, {"id": "gr8sa0d", "text": "Cold calling FTW!   \nYou also might wanna try social media marketing - i.e. posting a FB ad. I saw Prologis (massive industrial REIT) post an Instagram ad for space it was trying to lease. \n\nAlso, try posting on LinkedIn. I know a few successful brokers who rely heavily on LinkedIn for finding leads, other brokers, investors, lenders etc. \n\n\\*Disclaimer: Not a broker.", "replies": [], "depth": 1}]