“Exclusively Representing Tenants and Buyers of Commercial Real Estate”

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
November 8, 2018Lynn Drake
CRE Math

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
November 6, 2018Lynn Drake

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
October 29, 2018Lynn Drake

25

Oct2018
The starting point of all achievement is desire., - Napoleon Hills                    
October 25, 2018Lynn Drake

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
October 23, 2018Lynn Drake

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
October 19, 2018Lynn Drake

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
October 17, 2018Lynn Drake

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      
October 15, 2018Lynn Drake

11

Oct2018
CRE Math Series: Financial Summary for an Industrial Space If you saw our financial summary for an office location on October 6, 2018, you would notice this has a lot less information. In this situation we are assuming it is multi-tenant building and the landlord pays for all building costs and ... Read More
October 11, 2018Lynn Drake

09

Oct2018
"CRE Mistakes Series: Office Neighbors Once upon a time I was the bookkeeper for a company that sold singing telegrams! We had beautiful offices in a high-rise building. To be hired one had to audition which could be very loud. The neighbors often complained so all interviews had to ... Read More
October 9, 2018Lynn Drake