ALL ACCESS
AVAILABLE PROPERTY CHEAT SHEET
August 15, 2024
Shane Minnis
Commercial real estate has a bad rap for a lack of publicly available resources – making it difficult to find information.
If you’re anything like the many founders, CEOs, and CFOs I’ve spoken to over the years then you may share some common frustrations such as:
- Not having access to all properties.
- Fear of missing out on opportunities (FOMO).
- Lack of resources + difficulty finding information.
- Even worries that opportunities could be withheld from you.
Well… if you’re trying to find your next office, R&D or industrial space to lease in Silicon Valley, you’re in the right place. Especially if you want to be proactive in the search!
The last thing I want to be is the gatekeeper of information or the only one searching for space on behalf of clients…
In fact, I encourage clients to assist in the search and give full access to do so!
In my opinion, this is the best way to ensure no rock goes unturned. I even offer a FOMO warranty and ask that you let me know if you come across anything that piques your interest which we’ll gladly research and provide information on.
I’ve been a Silicon Valley commercial real estate advisor with Colliers (NASDAQ, TSX: CIGI) specializing in office, R&D, and industrial leasing since 2009.
Below I’ll guide you through some of my favorite resources for sourcing options you can leverage in your search for your next unicorn workplace.
1) Online Listing Databases
This is a good place to start because these online platforms aggregate commercial real estate listings from multiple sources into one place for an easy user experience. However, you’re typically trading quality for quantity.
Also, many will either request your contact information or require you to set up a profile… which they pass along to listing brokers and others purchasing leads.
If you prefer to maintain your privacy or want to avoid the bombardment of broker follow up, simply use my contact information. But give me a heads up so I can pass the information on to you.
- LoopNet – (FREE) This is the 1,000-pound gorilla for public online listing databases – You’ll likely encounter this with your first Google search for space. It’s a great starting place to see what’s available because they gather a lot of data from the major brokerages and many others. LoopNet touts themselves as the nation’s most heavily trafficked mobile and online commercial real estate marketplace. However, a major limitation – they only show paid listings… so unless the landlord or broker are paying for this, you’ll miss a lot of available options.
- CoStar – (PAID SUBSCRIPTION) This is the same company as LoopNet, but this is the professional version where commercial real estate decision makers, lenders, brokers, investors, appraisers, etc. come to find information. You get access to everything on LoopNet, including the unpaid listings hidden from LoopNet, plus extras depending on the type of subscription.
- CREXi – (FREE) This is a newer (est. 2015) online commercial real estate marketplace in direct competition with LoopNet.
- OfficeSpace.com – (FREE) This is another nationwide platform for all types of commercial listings for lease or sale – including office, retail, industrial, flex and land.
The following online listing databases I haven’t personally used, but I’m aware of them. So let me know your thoughts on whether I should keep or remove them from the list:
- CommercialEdge – (FREE) Previously these were smaller independent listing databases… Yardi’s been acquiring them over the years under their Commercial Edge Listing Network. I suspect they’ll be consolidated at some point in the future – but for now they’re functioning as multiple marketplaces:
- TenantBase (FREE – Requires a Profile) I haven’t used this platform, but I receive a lot of email promotions from them.
- VTS Marketplace – (FREE) This is newer on the list and at this point will have slim pickings in Silicon Valley. This resource is interesting because it’s a tool that’s been picking up steam over the years on the listing side to track deals and activity on listings while providing real time updates to landlords. However, VTS Marketplace is a newer integration VTS is promoting to help market properties already on their platform. We’ll see if this one picks up over time.
- Craigslist – (FREE) Likely slim pickings, but you may find a diamond in the rough with this one. You’re more likely to find one-off, smaller space listed by “mom-and-pop” type landlords, brokers, or property managers.
2) CRE Brokerage Websites
(FREE) With brokerage websites the tradeoff is quality over quantity because you’ll only find available space listed by that brokerage. However, because most available space on the market is listed with a broker, you’ll find more accurate information here compared to other online listing databases. This is because brokerages maintain their listing and comp data internally. The major Silicon Valley brokerages I’d recommend checking available property inventory for include:
3) Landlords
(FREE) Especially if you have a good relationship with your current landlord, it’s never a bad idea to explore whether they have any available or upcoming options.
4) Your Network
(FREE) This is another one that can uncover potential diamonds in the rough or off-market opportunities. You could get lucky tapping your own network for potential opportunities – however, use caution… this one can easily get thorny fast if navigated incorrectly.
5) Driving The Market
(FREE) Whether you’re out and about and come across a “For Lease” sign or you intentionally want to drive the market in your desired area – it never hurts to “pound the pavement”. Sometimes you can dig up opportunities and find something that works.
Although don’t be surprised if the available sign is deceiving… many times signs are left up simply to generate leads or can become outdated. Also, be prepared to come up empty handed because many spaces won’t be suitable for your needs… for a variety of reasons.
6) Coworking/Flex Space
These options work great for freelancers and startups, but they’re also excellent resources for established companies looking to expand or find temporary space quickly with greater flexibility than traditional space.
- Coworking/Flex Resources Coming Soon
7) CRE Broker
A commercial real estate broker can give you access to all of the above + additional insight and resources not publicly available. However, not all CRE brokers are the same… following are what you’re likely to encounter in the marketplace:
- Listing Brokers – When you inquire about more information on a particular property, you’re likely to encounter a listing broker. Listing brokers are hired by landlords to list the landlord’s property in the marketplace. Their fiduciary duty and loyalty are to the landlord. They’re happy to provide information regarding the property and even help facilitate a transaction because their goal is to lease or sell their listing… for the best possible terms for the landlord!
- General Brokers – This is any and every other broker in the marketplace you encounter. Even with the best of intentions, you’ll likely end up with misaligned priorities – their emphasis is on the deal instead of what’s best for you. Unless you’ve engaged a broker to represent you exclusively… there’s no commitment to you or your priorities, nor you to them – which causes information and resources to become guarded by both sides to the benefit of no one.
- Your Expert Advisor – This is the broker you engage to work on your behalf – they’re unique because they have a fiduciary duty to you. This is how you align priorities with a mutual commitment to what’s best for you – which allows information and resources to be shared by both sides to the benefit of everyone.
While I can’t speak for others, I personally work to EARN your trust and loyalty as our client. Transactions come and go, relationships are forever – We’re Your Bulldog in the fight sourcing commercial real estate solutions that address your concerns today and expand your success tomorrow.
Dedicated To Helping You Get A Great Deal + Maximize ROI On Your Next Lease,
– Shane Minnis
P.S. It’s FREE but space is limited to ensure 5-Star quality service – we recommend joining ASAP!
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