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. ...
November 6, 2018Lynn Drake
Net/Net/Net (n/n/n): A lease requiring the tenant to pay, in addition to a fixed rental rate, the expenses for the property leased. These usually include the following: taxes, insurance and maintenance. Be careful with these types of leases or else the landlord will have the tenant paying everything ...
April 12, 2018Lynn Drake
When I stumbled into commercial real estate I found my personal nirvana. I liked bookkeeping and enjoyed studying business and accounting in college. But I couldn’t see my future in computerized ledgers. I needed more action. I landed a job working for one of the biggest commercial real estate landlords in ...
October 25, 2017Lynn Drake
Having managed a fortune 500’s real estate department for many years, I was never a big believer in long term leases. I found that business space needs fluctuate and it's often not good to be locked in. However, there are times when you may want to consider a long-term lease. For ...
March 7, 2016Lynn Drake
In the spring of 2015, I got a 22% increase in my common area maintenance (CAM) pass-through expense. CAM charges are billed pro rata to me and other tenants, based on our percentage of total property square footage and to cover the cost of common area upkeep. When I sent an ...
February 29, 2016Lynn Drake
It is interesting when one takes a group of people out on tour to see their reactions. Some people go simply on about how the space looks the minute they see it. Others are very analytical, and need lots of data. No matter what, your agent needs to run ...
January 7, 2015Lynn Drake
Helping our clients buy buildings is an aspect of our business that we really enjoy. However, I have to say: I’m not convinced that the banks are truly lending in this economic climate. We recently had a client who was looking to buy a very small building. Getting a mortgage ...
November 13, 2013Lynn Drake
Friends of mine introduced me to a great game called cash flow. It was developed by Kisosky(author of Rich Dad Poor Dad). Cash flow is a real life game that teaches you that no matter whether you are a truck driver or a Doctor you can obtain wealth. This game ...
August 21, 2012Lynn Drake
For everyone that began to believe there really is such a thing as a free lunch and free rent, the game is changing. Landlords are willing to give a month, but the incredibly generous deals are fading as buyer interest picks up. Watch out if you find ...
April 28, 2011Lynn Drake