Beating The 771k Square Foot Glut
How A Strategic Pivot Secured An Above-Market Lease
We don't let a problematic market stop us
CHALLENGE
A landlord faced a professional nightmare: a tenant vacating 10,500 square feet in the middle of a global pandemic and economic recession. The local market was flooded with over 771,000 square feet of competing vacant space within a five-mile radius.
Rental rates were plummeting as negative absorption meant more businesses were leaving than moving in. For the owner, this wasn't just a vacancy—it was a looming, expensive threat to their portfolio’s stability.
He knew that the standard "sign in the yard" approach would fail in a market with more space than users. He needed a specialized strategy to find the few essential companies still growing.
ACTION
Patrick executed an active hunt for a tenant rather than waiting for the phone to ring. He analyzed the specific high-potential uses for the warehouse to bypass the stagnant local market. By employing the Precision Match Marketing System™, he gave the property maximum exposure locally and nationally through digital and video campaigns.
The tactical execution included:
Direct Outreach: Identifying and contacting over 143 high-potential users directly.
Omni-channel Marketing: Deploying digital, social media, and video assets to reach qualified prospects abroad.
Active Engagement: Following a disciplined nine-touch sequence to ensure the property remained visible
RESULT
The impact was immediate, generating multiple offers despite the recession. Within 30 days, proposals were moving, and in under four months, a five-year lease was signed.
The data confirms the win:
Premium Pricing:Secured a lease at the full asking price and above market rates.
Tenant Quality: Secured an established "essential business" tenant to ensure long-term stability.
Speed: Solved an "ugly" problem in record time, avoiding months of additional vacancy.
The owner successfully turned a market crisis into a stabilized, income-producing asset.
Trying to lease a 10,500 sq. ft. office warehouse during a worldwide pandemic can be challenging... Patrick is a smart, professional individual with years of experience, which was invaluable in locating and securing a lessee, resulting in the signing of a five-year lease for my building at the asking price.
Patrick and his team actively marketed my property... and didn't just put a sign-out and wait for the phone to ring.
