Small warehouse questions with lease and property management

[Philip Hong]

Hello everyone,

I came across a deal for ~50 units of small warehouses (each 700-800 sq ft) and leases are around 1 year each.  Is this typical to have 1 year leases and be treated more like a residential rental?  Also, if I want a property manager, what type of company do I look for?  This seems a little unque.

Thank you,

[Chris Mason]

For spaces that small, with minimal TI going in, I don't think that's crazy. You tend to see higher turnover when it's that small; good chance the property owner or property manager can't find people that a) only want 700 sq ft and b) are willing to sign a 5 year lease.