Vacant Warehouse Space Ideas

[Logan Pourbaix]

Hey BP, 

I am looking for some ideas for a commercial warehouse I own in Toccoa, GA. The area is not necessarily "booming" and the warehouse is located on a side street off of the main road in town so therefore there isn't any main highway line of sight. The warehouse is around 16,000sqft and I have tried to rent it and sell it without any headway. Id like to see if anyone out there has some innovative ideas I could use to get this cash flowing. Thanks

[Taylor Hazard]

Id like to know a little more about the listing, how long has it been on the market? Is it a single tenant building or a 16,000 SF space in a multi-tenant building? Where are your asking rates / price in comparison to market average? How have you been marketing the space, my first step with any listing is usually making sure the neighborhood knows about the availability, its usually a good bet that there is a business within 2 miles that needs to expand/retract or otherwise relocate for a variety of reasons but needs to be in the same geographical area. 

There are any number of ways to entice tenants into a building, advertising shorter term leases for example can set you apart from competition in the commercial world. Can the building be subdivided to offer smaller spaces? 

Does zoning allow for the building to be re-positioned? heavier office uses such as call centers are often good tenants in industrial space given the cost savings when compared to office. You said its "on a side street of the main road", is the main road a CBD with business etc? Would a brewery / brewpub be a good use of the space?

Have you put the space in front of industrial users with national footprints? Fastenal and SafeLite are good examples of national credit tenants with hub and spoke location strategies whereby they have multiple smaller locations across a metro area.

If the situation is dire you can always put a tenant in month-to-month just to cover the NNN's until a long term tenant comes along. Hail dent repair, pop-up insurance claim adjusters and dead storage are usually good bets for this scenario.

Somewhat scattered thoughts, hope they help.