Looking for Industrial: Not getting any responses on offers to lease
My business has grown substantially to where I need to move out of the current space I'm renting from a business I acquired with an existing lease.

We're in South Florida. I've never actually pursued a commercial lease up until now. I'm looking for roughly 10K sqft of warehouse space and have the budget for it.

I've looked at tons of industrial properties and submitted LOI's at full asking rate offering to take the space as-is with no TI or anything. I'm being aggressive because we're needing a bigger space BAD and our operations are hurting without a bigger facility, so trying to move quickly.

Despite what seems like perfect offers, we're just not getting responses from Landlords or their reps whatsoever. It's really irritating. We've been in business long enough, great financials even through COVID, good credit, etc. Some of these reps even tell us we're the perfect candidate and seem really motivated to get us in, but then won't give us a response. Our agent has been really aggressive trying to get a response, but we either don't hear back from the LL rep or we get told the LL hasn't responded yet.

This has happened on a lot of properties in multiple cities throughout the county and almost like this is just the norm in Broward County. Any response, even if the property is not available would be appreciated because I'm trying to plan ahead. This has happened so many times that I'm at a point where I'm questioning the ethics of commercial realtors down here and considering moving my business out of the area. Which is not fair to my employees.

What is the typical response time we should expect/allow from submission of an LOI? Is there certain language we should add to our LOIs that request a timely response or limit the validity of the offer?

Sorry if this sounds like a rant, trying to get a feel if this is what I should expect throughout the journey or if any advice could point me in a better direction.
[{"id": "gqczgtp", "text": "What sort of term are you offering and how is your overall credit? Any annual increases and options? Miami metro is a very tight market so I could imagine LL\u2019s being selective in tenants and term.", "replies": [{"id": "gqd0q8c", "text": "&gt;What sort of term are you offering and how is your overall credit? Any annual increases and options? Miami metro is a very tight market so I could imagine LL\u2019s being selective in tenants and term.\n\n3-year lease initial with consecutive renewals. Credit is over 700, but we're not even getting responses when credit is not even presented/asked for.", "replies": [{"id": "gqd1ath", "text": "Are the renewals at set prices or at fair market value with annual increases? On a shorter term lease especially LL\u2019s will want to capture any upside in market appreciation so if they are not at fair market value that could be a mark against you. Are there annual increases in your initial 3 years as well?", "replies": [{"id": "gqd4dd9", "text": "We didn't put any language about rates during renewal assuming that would be more negotiated at the time of renewal or annual increases during initial term. But wouldn't they counter with something like that?", "replies": [{"id": "gqd6sh8", "text": "That is interesting sounds like you left it open ended for the LL to come back at least with terms they\u2019d like. I\u2019m surprised your leasing rep doesn\u2019t have any insight into why this is happening.\n\nMy company (LL/developer) deals with more bulk warehousing so maybe there\u2019s different economics and inner workings with smaller spaces I\u2019m not privy to, I could imagine it\u2019s not as structured. \n\nDid you sign an exclusive with your leasing rep? Maybe fresh eyes could help.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "gqd6b2n", "text": "I don't know your market, but more term (5yr+) is usually more attractive. \n\nAre you using an agent that specializes in industrial? Or at least does a fair amount of it? If not, and they're not getting any results, I'd probably terminate that agreement and look for someone who can better represent you. \n\nSorry you're going through this, pain in the ass when any type of business  doesn't reply in a timely manner.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gqd844u", "text": "I just sent you a dm. I specialize in industrial real estate sales and leasing. I often work on the tenant rep side. There could be several reasons you\u2019re not receiving responses including the fact that industrial as an asset class is in high demand and in our market as population continues to grow and investors/business owners arrive as they flee high tax/regulated markets the spaces that become available are being leased quickly for higher rates to credit tenants coming in from other markets. Being landlocked, there is not much dirt left to build on and the only new buildings being developed are 100,000sf+ and those institutional developers/landlords are really looking for 40-60000sf users. With that being said, I have done several 2000, 5000, 15000sf leases in the past year so let me know if you want help.", "replies": [], "depth": 1}, {"id": "gqefn2j", "text": "You're asking people whom you've never met, why people we don't know, are not accepting offers you haven't put out for our review.\n\n(I have an idea for you):  Call the people who *aren't* saying \"yes\" and ask *them* why.", "replies": [], "depth": 1}, {"id": "gqeodtg", "text": "In some markets it\u2019s more typical for the landlord to issue an initial proposal to tenants seeking space. \n\nIs your agent an industrial specialist? It seems highly unusual you wouldn\u2019t get interest from landlords, even in a hot market. The market being hit means they\u2019d raise rates, not that they wouldn\u2019t respond. \n\nIs your use or business unusual? We used to get calls for churches or car shop/bars and were not interested.", "replies": [], "depth": 1}, {"id": "gqewjqe", "text": "Get a better tenant rep broker", "replies": [], "depth": 1}, {"id": "gqez76r", "text": "Either use a specialist, someone that reps a ton of landlords in the market... or since you understand what you\u2019re looking for, work only with the Landlord rep. The landlord reps are double ending deals... why would they split commission with you\u2019re tenant rep broker if they can get the full commission with one of the tenants they rep... plus they will control the deal. Adding another \u201cdeal maker\u201d broker will only impede their chances of getting the deal done.\n\nI was a broker for many years. Brokers will always downvote when I say this, but the market (especially industrial) is on freaking fire and you need to let the landlord rep represent you too. Hire an attorney to review and negotiate the lease and find listings on LoopNet or calling the landlord reps direct.", "replies": [], "depth": 1}, {"id": "gqgq962", "text": "Send me a pm. My company owns and manages a few industrial properties in Broward and we have upcoming vacancies we need to fill.", "replies": [], "depth": 1}]