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Updated over 2 years ago,
Finding tenants for office/medical building in small town
Hi,
I just spoke with the owner of a vacant office building owner. The building was occupied by several doctor's offices that left a few years after the last recession. The owner likes the idea of placing tenants in the property then selling/exchanging it after the GSI has been stabilized. It's currently being managed by a CPA who I still have to speak directly to.
So as his soon to be leasing agent, I'll have to find new tenants for his building which is located in a small town in Santa Barbara county, CA with about 7000 people and about 12 miles from any other larger city. The primary economic driver here is food packing, produce distribution, and farming.
My first steps are going to get the tenant history, get the leasing info from similar buildings in town, talk to someone at the city govt to see if they are looking for space, since it was a doctor's office previously I'll reach out to doctors in neighboring cities to see if they are interested in adding an office in town.
This is my first leasing agency contract. I'd appreciate any tips on marketing, due diligence, and searching for tenants. What would you do in my situation?
Thanks.