Owner Successfully Leases His Building During A Global Pandemic
We don’t let a problematic market stop us
CHALLENGE
In the midst of a global pandemic and economic recession, a landlord had a tenant vacate early. Within 5 miles of his property, there were over 771,000 square feet of vacant space, decreasing rental rates and more space than users; that is, more space became available than there were tenants to fill it. In short, the worst-case scenario for a Landlord. What was needed was not just effective positioning but maximum exposure and creative marketing.
ACTION
This Landlord naturally reached out to Patrick as his Commercial RealEstate, go-to-guy and had reached out to him before on several occasions for advice and recommendations. Now the Landlord needed Patrick to solve what could turn into an ugly and expensive problem. Patrick quickly analyzed the situation and provided recommendations. He employed digital, social media and video marketing to give maximum exposure locally, nationally, and abroad. Their efforts, unlike their competitors, didn’t stop there. Active marketing was needed. Patrick and his team identified over 143 of the highest potential users of the property and contacted them directly.
RESULT
Within thirty days, proposals were going out. The impact of the marketing resulted in multiple offers. In less than four months, a deal was secured with an established tenant who was considered an essential business. Moreover, the property was leased-above market rates.
Trying to lease a 10,500 sq. ft. office warehouse during a worldwide pandemic can be challenging, but fortunately, I had a highly qualified broker, Patrick Buckhoff, to represent me and my company in the leasing of my building. 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. I highly recommend Patrick Buckhoff to anyone in need of a professional broker. Patrick and his team actively marketed my property, reaching out to potential tenants, and didn’t just put a sign-out and wait for the phone to ring.