We have a great leasing broker on our Gilroy yard.
This morning Stew Cedarleaf posted our Gilroy vacancy himself on Facebook marketplace.
Not because the broker isn't doing their job. They are, and they're good. But somewhere along the way, "we hired a broker" became a lot of sponsors' entire leasing strategy. I don't think that's the job.
Here is how I think about it. The broker is one channel. They are not the whole plan. As the sponsor, the vacancy is ours. So this week we are also:
1. Listing it on Facebook Marketplace (https://lnkd.in/etsq_dXD), where a lot of the operators who actually rent IOS are already looking.
2. Posting it here on LinkedIn (you're reading the leasing effort right now).
3. Calling tenants in the submarket directly, the contractors and equipment operators we already know.
4. Leaning on the broker to do what brokers do best while we cover the scrappy ground in between.
None of this is glamorous. That's the point. Leasing a yard is the same lesson as everything else we do: show up every day, work every channel, do the unglamorous thing before you need it.
If you know an operator who needs space in the South Bay, point them my way or tag them below.
Who's the scrappiest leasing tactic you've ever seen actually work?
“We Hired a Broker” Is Not a Leasing Strategy
