Tulsa Commercial Real Estate: Where are all the tenants?

Tulsa Commercial Real Estate: Where are all the tenants?

A Message For Commercial Real Estate Owners

Nearly every day our team meets with multiple Tulsa commercial real estate owners who are frustrated that their properties are sitting vacant and no tenants seem to be coming to their rescue. These building owners are great people and smart business people. Most of the them started a small business years ago that they grew into a large business. Over time this business grew larger and larger and eventually they felt compelled to secure a long term place of business for their growing enterprise. After much searching many of them decided to purchase a commercial real estate. They then occupied this piece of real estate while their businesses thrived. Eventually at some point during their career they began to arrive at the conclusion that they were getting old and they no longer had the desire to run the day to day operations associated with operating a profitable business. Thus, many of them decided to sell their businesses while some of them decided to shut their businesses down entirely.

Because these individuals had successfully and dutifully run their businesses for several decades they are now finding themselves as the proud owners of debt free pieces of Tulsa commercial real estate. Some own $500,000 buildings. Some own multimillion dollar buildings. Some own land. And still others own multi-family properties. So what is their plan?

Their plan was to lease out these properties to generate passive retirement income that they could live on for the rest of their lives. Their plan was to sell their buildings for two or three times what they initially bought them for. Their plan was to rely on their commercial real estate to provide them with a comfortable retirement. However, there is one problem that most of them are dealing with. Their buildings are sitting vacant or they can’t find a commercial real estate buyer in this current economy. Thus, they ask the question, “Where are all the buyers?” and “Where are all the tenants?”

These are great questions, and at Fears & Clark Tulsa Commercial Real Estate, we have answers for these questions?

“Where are all the tenants?” – In Tulsa their are 44,000 potential tenants according to the Chamber of Commerce. There are approximately 44,000 business owners in the Tulsa community, 82% of thos are small business owners that employ less than 10 people. These potential tenants are generally not driving by the signage out front of commercial buildings during the day. These tenants are usually not at the local country club chatting it up with Tulsa’s commercial real estate community. These tenants are not on the phone calling up commercial building owners to ask to them how much space they have available. These potential tenants are running their small businesses. They are getting up at 6:00 am to take a hurried shower before hustling to the office to start their workday by 7:00 am. They are listening to talk radio while they drive, they are not taking lunch and they are working hard daily, fighting against the averages to make their businesses successful. They are working until 7:00 pm, then they are coming home to see their families for a few hours before going to sleep and doing it all over again.

“Where are all the buyers?” – The buyers are at the lake. The buyers are on vacation. The buyers are enjoying downtime. Some buyers are busy running their highly-successful and growing businesses. The buyers are not at the country club chatting it up at the Tulsa commercial real estate networking events, and the buyers are not driving buy properties to see which one would be a good fit for them.

So how does the Fears & Clark Tulsa Commercial Real Estate team reach potential buyers and tenants?

There is this incredible and innovative piece of technology out there known as the phone, and we are actually using it. In fact we are dialing and smiling so much that our number one work related injury risk is that of developing arthritis in our fingers. Essentially at Fears & Clark we have determined that with only 44,000 business owners in Tulsa, we can call them all every 33 weeks. And then once we call them all, we start again. And then once we have called them all twice we call them again just to confirm that they have been called twice already. Our whole system is based on a the numbers game. A certain number of contacts produces a certain number of tenants with expiring listings which then produces a certain number of showings which produces a certain number of transactions. Is it genius? Is it new and exciting? No. Does it work? Yes.

At Fears & Clark we deliver results. Because we staff an entire team of professional photographers, web-optimizers, videographers, real estate professionals and marketing gurus we find it relatively easy to connect with the movers and shakers in the Tulsa business community.

With out internet presence buyers and sellers find and call us all the time expressing interest in the space that we have available. And if they don’t call us, we will call them.

by U.S. SBA Entrepreneur of the Year & Cofounder of Fears & Clark Tulsa Commercial Real Estate – Clay Clark

For more information about how to market your Tulsa commercial real estate visit the Fears & Clark Tulsa Commercial Real Estate offices or call the offices today at 918-481-2080 to get in contact with the Marketing Director and cofounder of Fears & Clark, Clay Clark.

For more information about Tulsa office space, Tulsa office buildings, the city of Tulsa, Tulsa commercial leasing, Tulsa commercial real estate and officing in dowtown Tulsa call us today.

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posted Friday, September 10th, 2010
posted under: Blog, Real Estate 101 tags: , , ,