In September 2019 James Dean Commercial (JDC) were exclusively appointed as leasing agents for 23 Container St, Tingalpa. This freehold industrial property comprised of a 1,200sqm* Metal Clad Office Warehouse. JDC were able to successfully lease the property to a nearby NDIS provider who were in desperate need of a bigger facility.
Through our daily canvassing activity, we cold contacted the landlord as they had purchased a nearby property where they planned to build a brand new facility. With the business relocating in January 2020, an opportunity presented itself to assist in securing a tenant for the upcoming vacancy at the property. We organised a meeting, inspected the property, discussed our detailed process and were able to secure an exclusive appointment.
Upon securing the appointment, we tailored a marketing strategy which consisted of: online advertising, sign board, local letterbox drop and regular mail-outs to our database. On top of this, we allocated 5 hours per week of a dedicated and strategic canvassing program and targeted contact calls to our database of active tenants in the market.
The property received minimal enquiry through the online platforms however through our comprehensive canvassing approach we were able to generate multiple inspections. We leased the property to a nearby tenant who had a lease expiry in February 2020 and a need for a larger premises. We secured a deal starting in February 2020 which provided minimal letup time for the owners ensuring a rental income stream and a smooth transition for the tenant moving between properties not having to pay double rent.
The deal struck was a 3 + 3 + 3 year term, at asking rent, with a cash incentive to assist with the tenants fit out. The owners also performed various capital upgrades to the property including new facade and new fence to reset the property for the next 10 years. The end result benefited both the owners and the tenant. The owners secured a strong covenant on a great deal with minimal letup time and the tenant secured a property more suitable for their operations in their desired location.
At JDC, we aim to deeply understanding each clients current and desired scenarios to be able to provide property solutions. It's about working closely with all parties in all stages of negotiations in order to secure the most optimal outcome for all.