The news to report is not positive. The property search we conducted in June and July was unsuccessful. Of the properties we identified that had potential, one was leased and another was determined to have insufficient parking. After further discussion with our broker we elected to switch to a new broker. We met the broker, Newmark Cornish & Carey on Aug 6. They already had a potential list of properties to check out. We narrowed the list to 6-7 properties (San Leandro, Hayward and Union City) and went to check them out. After further evaluation, we submitted LOIs (Letters of Intent) on 2 of the properties. Unfortunately, the market is a seller’s market, and we are not likely to get these properties.
Who would have thought our primary challenge with DI was finding a building to lease?!! It will happen, but we just need to be patient. Our broker is scouring the property listings; so keep your fingers crossed and let’s hope we run across the perfect one.