Industrial Flex Office/Warehouse Tenant

[Otto W. Anderson]

Good Day All!

Recently purchased an industrial Flex Office/Warehouse.  10,000 sqft  (5) 2,000 sqft tenants.

4 of the 5 tenants leases expire at the end of the year.  All tenants are paying $6 dollars a sqft full service.  Significantly under current market rates of $12 nnn.  

Submarket outside of Charlotte NC. Directly off RT 74 which is heavily traveled.

How would you proceed with notifying tenants of the rent increase?

90 Days, 60 Days, 30 Days Notice??   

2 of the 4 tenants have been there more than 5 years and are dug in tight with equipment and materials in their space.