Response dated March 23, 2023, when providing guidance on lease and sale options for an out of market building owner.
The backstory goes like this: Existing tenant notifies the owner of their intent to vacate. Ownership is aware of the Mid-Counties Industrial Team, Phillip DeRousse and Joel Hutak, due to a decade of active marketing in/around “The Market” (Santa Fe Springs, La Mirada, Norwalk, Buena Park, Cerritos, La Mirada). Prior to in-depth discussion, we request a preview of the building to discuss intelligently and accurately about the product. We then provide a list of suggested improvements to best position the building to sell or lease, in the quickest amount of time and highest value.
We suggested the following for this particular building:
Roof Quotes to repair and/or replace
Parking Lot Slurry Coat and Stripe
Update 5 Year Sprinkler Cert
Upgrade to LED Warehouse Lighting
Landscaping and Site Improvement
Roll Up Door Service
HVAC Service
Ownership did not have local, honest and available contractors to perform all of all these functions. No problem, we do! And, we will not only reach out to the contractors, we’ll meet them at the buildings for the walk through, procure a quote that is sent directly to the owner, and coordinate access for all work to commence. We then provided names and address’ of other clients and buildings where we have done the same.
Owner: “Wow, that would be very helpful. What do you charge for these services?”
Phillip and Joel: “Nothing extra, it is included in our service. You sign the listing agreement and that is enough for us.”
Owner: “I work with a lot of agents and no one does that. I’ll absolutely work with you guys.”
Within an hour of the conversation we had a fully executed listing agreement, began procuring quotes and producing marketing material.