Office Space - Comprehensive Marketing Thread

I just acquired an 8000 sqft office building that's about 70% empty due to mismanagement (really, complete lack of management). I've got about 3 1700 sqft offices and 5 150 sqft offices. I need to fill it up fast and that means serious marketing.

So I thought why not just make this a comprehensive thread on all the methods you've used to successfully market office space.

Here's what I'm doing so far:
- 4 x 4 Skid sign out front (Just went out yesterday)
- 4 x 18 Banner "Office Space - Free Rent" (In the mail)
- Craigslist (I've gotten a lot of leads, but exclusively for 150-300 SQFT)
- Loopnet (got nothing at all here)

This thread is one we can build on. It adds a few good ideas:

- Compile of list of suitable businesses in slightly dumpier or more expensive buildings, research them, and call them and try to convince them to lease from you.
- Direct mail to suitable businesses nearby
- See if your area requires a public notice for fictitious business names and mail the owner address

Can you guys come up with anything else? Please, only things that actually have worked for you or someone you trust, not things that you think might theoretically work!
:D

Jon K.

Real Estate Investor · Dallas, Texas

Donor Pro

2,996 posts
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Apr 24 '11, 12:53 PM

Interview office brokers that might already have relationships with potential tenants. Perhaps hire a broker.

Check out Costar as well as LoopNet.

Shoot a video of your property and link to it from all your ads.

Jon K., VentureNet
E-Mail: jklaus@vnetinc.com
Telephone: 214-929-6545
Website: http://www.caddostar.com
Traveling to Dallas? Check out our ranch cabin getaway. www.caddostar.com

Nick Holliday

· Greensboro, North Carolina

6 posts
50 influence

Apr 25 '11, 07:56 AM

Good ideas Jon.

What about putting together a special offer for brokers who bring tenants? A higher commission or something?

What types of offers work and how do you communicate the offer to brokers?

Justin Callaway

Commercial Real Estate Agent · Miami, Florida

25 posts
1 award
50 influence

Apr 25 '11, 09:17 AM

I have to agree with Jon on this. Also, I would suggest you research what is common in your area for tenants to either ask for, or expect from their landlords. Depending on your market, I would also determine feasible concessions that you are able to give and if you are not going to hire a broker, then an above average commission could help as well.

The name of the game for offices, especially struggling ones is going to be proper numbers. Maybe go after some Non-profits that could use the space.

Oh yeah, before I forget, ASK YOUR TENANTS. They could hold the key to you filling your building up through their networks. You would obviously have to sit down and talk to them about whatever changes you are making and how you plan to manage the building, and maybe throw in an incentive or 2 (people like things in pairs, except problems) for them as well. They could have a slew of friends and colleagues that are in need of just what your building offers.

Nick Holliday

· Greensboro, North Carolina

6 posts
50 influence

Apr 28 '11, 11:09 PM

Ask your tenants: Great idea!

Another good one I found out about on another site is costar's expiring lease data. You can either find a broker who is subscribed or subscribe yourself.

What else? I know there's more...