Originally posted by @Joel Owens:
Just me but I would look at a different viewpoint.
How have you been communicating with her?
Is it by e-mail,phone, video chat, in person?
Someone can lease something up fast only to have a CRAPPY tenant. WHO is your tenant base is it local,regional, or national industrial type tenants? Local tends to act more fast in leasing a space with mom and pop type operations. The bigger companies tend to do more research and are more slow and methodical in their decision making process.
As an example for retail even if you get Starbucks wanting to go on a retail site from the first time contacting it can be 6 months or longer before they open in the space. They do research, have committees do tours of areas,etc.
If you have her on a video chat you can look at how she responds to your questions when asking about time lines and getting back to you etc. If someone is looking down, looking away,etc. with facial gestures as they talk that tends to not be a good sign. You mentioned they have already leased up the other spaces. Is the larger tenant now current on rent? Larger box spaces tend to take longer to lease out as bigger companies are slower to move and rent is typically higher compared to a larger pool of smaller tenants going for the regular type spaces.
National tenants tend to want brand new buildings with higher ceilings for storage and shipping. The older buildings usually are for more mom and pop and regional businesses.
We tried scheduling a weekly call with her at the same time every week but 7/10 times she cancels, often the day of, because she says she has tours for other clients in the afternoon. Then we spend the rest of the week calling and emailing her trying to get our questions answered. We do multi tenant light-industrial and typically local small tenants. Never national brands. Companies like solar, construction, small retail, things like that. This is our first property in Dallas and our first time with these larger units - 6,000 SF and the one 20,000 SF tenant. For our other properties, the units are more 1,200 - 2,000 SF on average an lease within a month if not less. So I don't know if 6 months for a 6,000 SF tenant is good or not. All I know are the facts - for example, she said a month ago she wanted to start marketing the 20,000 SF space and needed to take pictures first, and she hasn't put it on the market yet.
