Case Study:
Client Vacancy: Industrial/Flex Lease
Overview
In the dynamic world of CRE, unexpected tenant departures can present formidable challenges for property owners. The client in this Case Study, a Commercial Real Estate business located in Madison, WI found themselves facing such a predicament when a tenant unexpectedly vacated their 7,000 square foot flex-industrial space.
The client turned to Collaborative Commercial for an innovative solution with the desire to find a quality tenant as quickly as possible. We embarked on a strategic journey aimed at swiftly generating prospects for the property owner with a singular goal in mind: to provide an inflow of prospects that the owner would deem strong candidates for a new five year lease at current market rates.
The Solution
Collaborative Commercial approached this challenge with a multi-faceted solution that combined creativity, strategic thinking, and an in-depth understanding of the commercial real estate landscape.
Our strategy was built on the following pillars:
New Mindset
We recognized the importance of differentiating our client's property in a competitive market.
Rather than following the well-trodden path of listing the property on Loopnet and CoStar, the client wanted to explore alternative avenues to stand out from the crowd.
Multi - Channel Approach
Instead of relying solely on traditional channels, we developed an omnichannel approach that allowed us to generate leads for the owner across various marketing platforms. This strategy aimed to maximize visibility and reach within the target audience.
Tapping Into Data Analytics
Knowing where to find potential leads is mission-critical to any business or property owner.
Collaborative Commercial utilized advanced Database Marketing strategies in order to source a list of potential leads for the owner.
The Results
225
Individuals identified
as potential prospects
Target Audience
segments identified
7
Response rate to
outbound Marketing efforts
11%
5.5
Number of weeks it took to find a tenant.
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