Retail owners: What are best commercial leasing brokers to find national tenants?

[Nikolas Engel]

Good day,

We hold about 12,000sf empty shell retail space in a suburb of Portland, Oregon. We do have a leasing broker for the space but interest has been low. I would like to learn more about commercial leasing brokers fellow retail owners use and can recommend, especially when it comes to successfully market the space towards national companies. 

Thank you so much for sharing your experience! 

Nikolas

[John McKee]

I've been in your shoes and it's been frustrating.  Listing brokers have hundreds of clients so to gain their attention on you property is limited.  I can't recommend anyone because it is truly a regional play as the local brokers know who is expanding in that area.

[Ronald Rohde]

The best broker is one that has ability and hunger to get it leased. Sounds like you need a change. don't be swayed by a big name, find a junior that is hungry.

[Joel Owens]

I pay them more to have focus on my properties. If retail leasing fee is 6% total to them I am now looking to offer 7% and build into my model. 

Of course everyone wants the great credit national tenants. National tenants are ultra picky on sites in an area and take more time in negotiations than regional, small franchisee, mom and pop type tenants.

You need a void analysis to see if even feasible for national tenants to want your site.

If you have a smaller center the retail property management companies that focus on up to 25k spaces and below tend to be better with lease ups. The large companies might have a big client in the area but once they lose that business or the client sells the management of the smaller properties with lease up efforts tends to go in the toilet. 

[Nikolas Engel]

@John McKee, @Ronald Rohde, @Joel Owens

Thank you so much for your replies and support! Great to get some thoughts on this issue!

Which national listing brokerage are you working together? I assume that such a brokerage with a regional office could provide the local expertise and the national network to promote the vacant spaces? Will look out for able and ambitious brokers, thank you Ronald!

Joel, thank you for letting me know about void analysis. I have not heard about that before and a quick scan showed quite a bunch of tools to do one. Do you have a recommended tool or even provider you like to use to carry out such a void analysis?

Gentlemen, again, thank you so very much!

[Ronald Rohde]

Quote from @Nikolas Engel:

@John McKee, @Ronald Rohde, @Joel Owens

Thank you so much for your replies and support! Great to get some thoughts on this issue!

Which national listing brokerage are you working together? I assume that such a brokerage with a regional office could provide the local expertise and the national network to promote the vacant spaces? Will look out for able and ambitious brokers, thank you Ronald!

Joel, thank you for letting me know about void analysis. I have not heard about that before and a quick scan showed quite a bunch of tools to do one. Do you have a recommended tool or even provider you like to use to carry out such a void analysis?

Gentlemen, again, thank you so very much!

 we work with stream and wingert (a local shop), 

[Eddie LeGrand-Sawyer]

Quote from @Nikolas Engel:

Good day,

We hold about 12,000sf empty shell retail space in a suburb of Portland, Oregon. We do have a leasing broker for the space but interest has been low. I would like to learn more about commercial leasing brokers fellow retail owners use and can recommend, especially when it comes to successfully market the space towards national companies. 

Thank you so much for sharing your experience! 

Nikolas

 If it's not too much trouble sharing, what's the property address?