Letter of Intent:A letter of intent spells out the terms of an agreement to lease or buy commercial real estate. I usually use one when making an offer to purchase a property. It defines the location, price, and specific terms of an agreement subject to a contract being prepared and ...
May 31, 2018Lynn Drake
Sometimes a business will win an account, and in order to fulfill their contract they need to open three new offices in 30 days. So, someone flies out to the new state and starts driving around trying to find a space. When they call to inquire about space and say ...
May 25, 2018Lynn Drake
Executive Suite Definition: Many people don’t realize there are many alternatives to leasing an entire suite. For instance, you can often leas an executive suite; these are available in most major cities. You can lease one small office, mail service, answering service, or a large conference room by the hour. Start small ...
May 23, 2018Lynn Drake
Ever greening Clause Definition: Most leases have an end date with an option to extend the lease expiration date by sending a written notice to the landlord. However, some leases automatically renew if the tenant doesn’t notify the landlord. We often see these types of clauses when a landlord is leasing ...
May 21, 2018Lynn Drake
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May 17, 2018Lynn Drake
Interested in learning more about commercial real estate? Whether you are looking to move soon or just investigating your options, it is im-portant to stay informed. Because we are a tenant-only, representative your interests are our number one priority. If you want to stay informed about commercial real estate, sign up for ...
May 15, 2018Lynn Drake
Every city in the US has zoning codes. These codes outline how a space can be used. For example, doctors often think they can lease space in any office building; however most medical buildings have additional parking requirements to accommodate their staff and clients and traditional office buildings may not ...
May 11, 2018Lynn Drake
Traffic mistakes can be critical. If you visit your future business home in the middle of the day and there is no traffic, that doesn’t mean the situation will be the same at 8:00 a.m. or 5:00 p.m. If you are a retailer, you want thousands of cars passing your building, ...
May 9, 2018Lynn Drake
Parking Calculations: Parking costs can get complicated. Depending on the location, you may have some parking spots that are more expensive than others. To keep this example simple, I’ve assumed everyone has the same rental rate per parking spot. Parking spaces are usually rented out monthly. Number of Cars: 30 Monthly Parking Fee: ...
May 7, 2018Lynn Drake
Gross Lease Definition When the tenant pays rent as a lump sum amount and the landlord pays expenses from that sum.
May 5, 2018Lynn Drake