Suggestions for sources/websites to find Shopping Centers for Sale

Investor · Bristol, CT · Member since 2010 · 28 posts · 4 votes

Good morning, folks.

My team is looking to purchase some/any off-market commercial properties (i.e., retails/shopping centers/malls, office buildings, or medical building) in the Southeast corridor of the U.S.

Besides conventional commercial RE brokers, can anyone suggest any other good sources or websites where I may be able to go to find these?

Thank you - in advance - for your replies to my question here.

Kind regards,

Al M.

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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
You're more likely to find unlisted, though available, commercial properties, through commercial brokers. If they're "off market" unlikely to find them on a web site.
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
11y
@Albert M.
welcome to the site.
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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
11y
The brokers have access to these off market properties. Sometimes we have been talking to sellers for over a year before they decide to do anything.
Looking at your post you have no profile pic and your profile doesn't show anything filled out or your location.
What does TEAM mean?? It's very vague and could mean anything. Could mean you are a wholesaler trying to make a fee. Could mean you are a REIT fund, syndication, small partnership etc.
If a buyer wants access to off market properties they will be properly vetted. Brokers have interest in direct buyers that can perform. If this is a wholesaler type thing you will need to drop your own money into the thousands and thousands and mail out directly to get access to those properties.
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Michael Tempel
Property Manager · Minneapolis, MN · Member since 2014 · 380 posts · 167 votes
11y
Costar and LoopNet (actually both are the same company now). You can find off market opportunities by having detailed information on any property through Costar. It is expensive, but the best I have found over the years.
Basically you can contact the owner directly and see if there is any interest, but also have detailed access to property info, public record info and past comps when available.
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Albert M.
OP
Investor · Bristol, CT · Member since 2010 · 28 posts · 4 votes
11y
To Wayne, James, Joel, Michael, & Owen.

Before I forgot to do so, I wanted to express my thanks to all for your feedback
on my question. BP truly is a great medium for networking, sharing ideas, and
obtaining guidance on all things Real Estate-investing related.

I apologize for not providing specifics as to my whereabout's. I'm actually
located in CT, but my team is looking down in the Southeast part of our country
(TN and GA markets) to buy & hold properties. Furthermore, by "team", I should
clarify that myself & two others are managing partners in an LLC.
Wholesale is not an exit strategy that we're primarily focused on, but, again, if
a deal comes along that we can't do, we'll consider it. Syndication is a
possibility, but will depend on the size of the deal.

Nevertheless, I hear your collective points loud and clear ... Commercial RE
brokers and some of the websites mentioned are good starts for looking for
potential off-market deals and the brokers associated with them. We'll look into
these immediately.

Thanks again to all. Happy holidays :-)
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Mark Vejnar
Investor · Simpsonville, SC · Member since 2013 · 184 posts · 71 votes
11y
PM me. A wholesaler in my area evidently has a lead on a large shopping center in Spartanburg, SC. I'll connect you.
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