platforms similar to the MLS, to search for commercial property. This package is
attached to every one of those search engines.
Moermond: do I have to have an account to access this information?
Hauge: no, there is public side.
Moermond: when was this posted?
Hauge: I put them all on last Monday, about a week ago. Right after our previous
conversation. This package is online, we hand to a prospective buyer. It is going to
take more than hanging a sign and putting it on the internet. It will take me compiling a
list of buyers, canvassing the neighborhood and then expanding and cold calling. I
have to call business owners and restaurant owners to make them aware. If you look
at the west side there aren’t a plethora of national retailers, and that’s because the river
is a natural cut off. This is the northern cut off of the market in that area. They also
don’t want to cannibalize their own stores. Every national retailer is there if you travel
south on Robert. As much as I want this to be the next Starbucks, Caribou, it could
be, but I’m dedicating my time to local and regional operators. We had two national
retailers I called immediately who said it is too close to their West St. Paul location on
Robert street.
Number 3 is what you would pull of MNCart commercial exchange. It has the packet I
just explained. An example. Number 4, is what you would receive if you received a
blast email from me. We would identify the brokerage community that should receive
an email about it. 664 brokers in my first email. Similar to the listing on Commercial
exchange. [Note, no number 5 was discussed]
Item 6 is showing we sent that email. 281 opened it, that is a big number. That usually
runs about 20%. That was sent September 7. I just sent another one, I try to send
them weekly. Item 7 is LoopNet. The largest reach in the nation, but Commercial
Exchange is local. They both reach big audiences. LoopNet reaches the general public
more. It is always the top one when you search Google. Number 8 is another national
database; more than any other use it is helpful at marketing retail properties. Typically
for investment property but since Covid it is more user properties than ever. We have
received good response from there as well. So far what we are doing is working. We hit
the ground running and are a couple weeks ahead of my normal timeline.
Moermond: I’m sure you’re aware of Karen Reid with NeDA. That would be a good
contact to see if she’s aware of anything at the neighborhood level, as well as any
assistance packages. Community block grant dollars. That may change the
calculation. I’m all enforcement. Daniella Lorenz is the person in Planning and
Economic Development who is tracking this. We’ll get you her contact information but
her phone is 266-6595. I know she is watching this, for what purpose, talk to her.
Those would be good contacts to look into.
Radio: we all have the same interest, in moving this from a nonproductive property to
being productive. An alignment of objectives and values. I see this as a win-win. We’ve
done a lot, now we have to wait for the market to respond. I really love the idea of
speaking with City development people who may be aware of people that we can use.
We only need one buyer.
Moermond: I try to keep these two conversations separate. They’re very different. But
wanted you to be aware of any resources. I will take those three contacts and these
platforms as good performance measures for the next several weeks. If you have any
information on potential buyers, next month would be a good time to talk about that
and hopefully start reeling something in.