Posted by Jeffery Gibson on August 16, 2004 at 23:59:50:
fioricet University, n.:
Like a software house, except the software’s free, and it’s usable,
and it works, and if it breaks they’ll quickly tell you how to fix
it, and …
[Okay, okay, I’ll leave it in, but I think you’re destroying
the credibility of the entire fortune program. Ed.]
Commercial office space - Posted by John Eakin
Posted by John Eakin on March 09, 2004 at 13:01:34:
Last July I bought a commercial office building. I currently operate a mortgage brokerage that utilizes approx. 1600 sq.ft. I still have 2500 sq. ft. that I can lease. I purchased this building as I was to rent out the part of the building that I wasn’t using therefore offsetting a great deal of my monthly payment. I have ran adds in the local paper and have had some lookers but no takers. Any ideas of a good marketing strategy for potential tennants?
Re: Commercial office space - Posted by Thomas Mote, CPM
Posted by Thomas Mote, CPM on March 24, 2004 at 18:38:52:
John:
I cannot believe that no one has posted a response to your question. You are in great pain and I hope someone has at least helped in another venue. If not, let me see if I can provide some aid.
It sounds like this is a small building, and the space you have (2,500sf) is all in one suite. You should have a lot of traffic going through that space, and if not, you are missing a lot of deals that could be yours.
If you have not contacted a broker to rep the space for you, interview a couple in the area, and don’t just find the first one that returns your call. Find a small entrepeneur like yourself who will understand what your needs are, and get you a tenant that will fit your investment goals. Don’t be afraid to share what those are with him/her.
Do not misunderstand. I am of Scottish ancestry and parting with ANY money is simply not in my nature. I have no other reason to say this other than to see you lease that space up. Commercial tenants do not find space by looking in the paper, or even in trade journals. You need someone who has connections in town (find one who is a member of the Chamber).
A lot of people are hung up on the leasing commission. Don’t be. It is better to have less of a larger pie than all of nothing (or so I have learned very painfully). Find a good one, and then recommend him/her to friends who do what you do. Regardless of the market, if you are not showing that space at least twice a week you are not getting the right traffic through your “store.”
I hope that helps. I will even be glad to help recommend an approach if you get stuck.