CRE Definitions Series: Tenant Improvements
A list of improvements made to a leased space such as building walls, replacing flooring, ceiling tiles, fixtures etc. The landlord or the tenant may do the work. Either party may agree to pay for the construction. All improvements should be identified in the lease and ... Read More
“Exclusively Representing Tenants and Buyers of Commercial Real Estate”
16
Nov2018
12
Nov2018
Interested in learning more about commercial real estate?
Whether you are looking to move soon or just investigating your options, it is important 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 ... Read More
08
Nov2018
CRE Definitions Series: Zoning
Every city in the USA has zoning codes. These codes outline how a space can be used. One simple example is when 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. ... Read More
06
Nov2018
As promised the following is an example of a completed financial summary for an industrial property. Please note utilities are not included because the office to warehouse ratio is usually different in most buildings and the ceiling height of the space can also make a big difference in the costs. ... Read More
29
Oct2018
CRE Mistake Series:
Staying past the lease expiration date Every written lease should have a start and end date. Sometimes a locations improvement isn’t completed in time, so the start date will shift. Usually a commencement letter is signed acknowledging the new start date. Most leases have a holdover fee clause. ... Read More
25
Oct2018
The starting point of all achievement is desire., - Napoleon Hills
23
Oct2018
CRE Mistakes Series: Built In Furntiure
Sometimes tenants ask the landlord to build in the furniture. I was working with a client who wanted a built-in reception desk, walls and then desks behind the walls. I suspect he thought this was going to be free as it was part of the ... Read More
19
Oct2018
CRE Definitions Series: Request for Proposal
Request for Proposal (RFP) is a written summary of terms for an agreement where one party would be willing to enter into the agreement with another party if the terms work for each party. The RFP is not binding by either party. I always use ... Read More
17
Oct2018
CRE Math Series: Expect Exaggeration
A landlord representative's, also known as listing agent's, job is to sell you the space. They often exaggerate and tell the tenant the landlord will do anything to get them as a tenant. Often these are verbal discussions and none of it makes it into the ... Read More
15
Oct2018
CRE Math Series: Holdover Fees
Rent/Month: $5,000
Holdover Penalty in Lease: 25%
5,000 x .25 = $1,250/penalty/month
$1,250/month / 30 days = $41.37/penalty/day