AboutMike Fortunato Expertise Can answer questions on all aspects of commercial real estate management, including lease administration, eviction issues, financial reporting and budgeting, asset valuation/enhancement, marketing & leasing, and site maintenance and repairs. 20+ years of real estate management.
Experience 20+ years in commercial management. Current own and operate property management company in southern California.
Question I'm a builder/developer of 27 years. Recently I purchased a 4ac. tract of commercial property that I want to develop. It is a excellent location but we live in a small town. I built a 5000 s.f. strip plaza and leased 3 out of 5 spaces.The property I have left is the best for develoment.How or who do you contact to get someone to look at leasing or purchasing our property? We would like to se a Tacobell/KFC or some other chain locate there.I have tried online contacts with their realestate sites but have had no success.
Thanks
Willie
Answer Most of the major branded tenants all use real estate professionals to handle their site acquisitions and leasing. To get to the right people, the easiest path by far is to hire a commercial real estate broker in your area who already has the contacts to put your property in front of them. There's an organization called the International Council of Shopping Centers (ICSC) that is useful for putting brokers together with big name tenants, but the costs to join is fairly expensive. and most retail brokers are already members. Yes, you would need to pay a commission, but you'll need to do that anyway as most of those companies are represented by brokers who expect to get paid to put these deals together. And trying to track down the decision makers on your own will take lots of time, while you're property sits vacant.
