The 10 Commandments of Industrial Leasing: A Simple Guide
By Canon Shoults, Managing Principal, Holt Lunsford Commercial
Leasing industrial space isn’t just about showing a building – it’s about creating a connection and building trust. At Holt Lunsford Commercial (HLC), we believe that every showing is an opportunity to foster relationships that last. To ensure we provide our clients with the best service possible, we follow a simple but powerful set of guidelines: the 10 Commandments of Industrial Leasing. These principles help us create positive, lasting impressions that move deals forward and keep our clients’ best interests top of mind. Here’s how we do it:
1. Be Prepared for the Showing
Preparation is everything. Before every tour, we study the property’s specs, neighborhood benefits, and unique features. For example, if a property has 24-foot clear heights and a newly renovated dock, we highlight how those features add value for distribution or manufacturing.
We also anticipate common questions. For instance, a prospect might ask, “How many trailers can fit in the lot?” or “Is there space for expansion?” Having clear answers on hand positions us as knowledgeable professionals and builds confidence in our expertise.
2. Always Show Up 15 Minutes Early
We believe in showing respect for our prospects’ time. Arriving 15 minutes early ensures we’re ready for them when they walk in. It’s also a chance to double-check everything, so the space is perfectly prepared and welcoming for the tour. Punctuality is a small thing that makes a big impact.
3. Be Certain the Space Is Presentable
First impressions matter, and we want prospects to walk in and feel right at home. Before every showing, we make sure the space is clean, well-lit, and ready to be shown off. Opening doors, turning on lights, and making sure everything is in tip-top shape makes a big difference in how the space is perceived.
4. Greet the Prospect at the Door and Exchange Business Cards
A warm, friendly greeting sets the tone for a positive interaction. We meet every prospect at the door, make a personal connection, and exchange business cards to ensure we’re keeping the conversation professional and approachable. Building rapport from the start is key to a successful showing.
5. Sell the Building
Selling a property isn’t just about showing the space, it’s about sharing its story. For example, instead of saying, “This building has 10 dock doors,” we might say, “With 10 dock doors and direct freeway access, this space could streamline your logistics operations and save hours on distribution.”
We also showcase the surrounding area. A building in an industrial park? We highlight the convenience of neighboring suppliers. Close to a highway? We paint a picture of reduced travel time for their fleet. Selling is about connecting the dots between the property and the prospect’s goals.
6. Ask the Prospect for Their Name and the Name of Their Company
Once we’ve showcased the space, it’s time to connect on a more personal level. Learning about the prospect and their company allows us to align the property’s story with their unique needs. By asking for their name and business details, we begin to build trust and tailor the conversation to ensure the space is the right match.
7. Ask What the Company Does and Why This Location Would Be Important
We want to understand our prospects’ business so we can better meet their needs. Asking about their company and what they do allows us to connect the dots between their business goals and the property’s features. This personalized approach helps us guide them toward the right space for their specific needs.
8. Discover Where They Operate Now and the Length of Their Lease Term
It’s important to understand why a prospect is looking for new space. Are they outgrowing their current location? Is their lease expiring soon? By asking about their current operations and lease terms, we can better understand their motivations and offer solutions that align with their needs.
9. Ascertain Why They Need More Space or Need to Move
Understanding the “why” behind a prospect’s need for space gives us valuable insights into their priorities. Are they expanding? Downsizing? Looking for something more efficient? Knowing their reasons allows us to position the space more effectively and demonstrate how it meets their specific requirements.
10. Complete the Marketing Update Sheet
After the showing, we make sure to document everything. By completing a marketing update sheet, we keep track of all the details we’ve learned about the prospect’s needs, interests, and potential next steps. It helps us stay organized and ensures that no opportunity is missed. This step also allows us to follow up effectively and keep the leasing process moving smoothly.
More Than Leasing: Building Lasting Relationships
By following these 10 Commandments of Industrial Leasing, we don’t just show properties, we build relationships that last. At HLC, we truly believe that leasing is about helping clients find the space that will drive their success. Whether you’re a property owner or a prospective tenant, we’re here to guide you through every step with care, attention to detail, and a deep understanding of your needs.
Let’s connect and make it happen. Reach me at cshoults@holtlunsford.com
