What to do with Commercial Property?

**spatel783** · 08-03-2008, 11:52 AM

Hello All-

New to the forum and have some questions for the experts out there. I'm in the hole for a good amount of money. I've got about 10 acres of Commercial Property in New Jersey with about half of the property already leased to CVS. My real estate broker handled that deal and we're paying him 1/2 the first year's lease amount until December.

With about 4/5 acres of commercial property left to develop on, I'd like to lease it to another business. However, I'd rather not use a broker and solicit businesses myself. I majored in Real Estate Finance as an undergraduate and I'm currently in my last year of law school also concentrating in Real Estate Law. So I have some expertise when it comes to transactions but not the brokering side of things.

Does anyone have any suggestions on how to go about soliciting business? With the trying economic times, is it even worthwhile to waste my time trying to find someone? How exactly do I get in touch with a companies real estate department?

Thanks All!

**apexonein** · 08-05-2008, 02:56 AM

Why don't you go for online advertisement. you can put your property listing in some major sites like craiglist etc to find buyer/leaser and can directly interact with him to finalize the deal. It will save the brokerage.

regards
Apexone

**creativecommercialcapital** · 08-07-2008, 08:00 PM

this worked for my dad. He had some property in Westchester county Ny for a while and he placed an ad in the realestate section of the NY Times Classified and it worked. He had some interested that let to a sale

**AndrewFalde** · 08-09-2008, 05:58 PM

If the site is retail you should look into joining the ICSC network or find brokers that are involved with that organization (icsc.com). Make a detailed package about the site, the area, demographics, etc. and take it to a convention they host.

Retailers and retail developers are not looking in the paper for properties because they get to many of them on their desk. To stand out you should try to meet them face to face or at least mail it to them and call to discuss.

You can contact me directly with specific questions.