CRE Mistakes Series: Built In FurntiureSometimes 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
Category: Commercial Real Estate
19
Oct2018
CRE Definitions Series: Request for ProposalRequest 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
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
09
Oct2018
CRE Mistakes Series: Office NeighborsOnce 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 take ... Read More
October 9, 2018Lynn Drake
05
Oct2018
CRE Definitions Series: Lease ExpirationMost leases have a start and ending date spelled out in a lease document. The last day of the lease should be clearly defined in the lease agreement or an addendum if occupancy didn't start on time. Tenant must be out of the space on the ... Read More
October 5, 2018Lynn Drake
27
Sep2018
CRE Mistakes Series: Retailers not understanding their rent obligationsAt Compass we get a lot of calls from retailers who leased space without representation. Sadly, they didn’t read, much less understand, the lease they signed. They got their space, moved in, and started paying rent. Then they get the bill from ... Read More
September 27, 2018Lynn Drake
21
Sep2018
CRE Definition Series: Renewal OptionTenants often want the right to extend their lease term after the initial lease term expires. The right to extend the lease option should be spelled out in the lease. If you don’t have this option it doesn’t mean the landlord won’t renew the lease, simply ... Read More
September 21, 2018Lynn Drake
21
Sep2018
CRE Definition Series: Renewal OptionTenants often want the right to extend their lease term after the initial lease term expires. The right to extend the lease option should be spelled out in the lease. If you don’t have this option it doesn’t mean the landlord won’t renew the lease, simply ... Read More
September 21, 2018Lynn Drake
17
Sep2018
CRE Definition Series: Security DepositA deposit made by a tenant or buyer of property. The landlord or seller will usually determine the amount based upon the tenant’s credit or the purchase price of a building.
September 17, 2018Lynn Drake
07
Sep2018
CRE Mistakes Series: Furniture Placement As agents, we don’t advise on furniture placement, but I can tell you when someone has made a mistake. A new neighbor in our office building has a single glass door entry with a very large side light. They have yet to move into the ... Read More
September 7, 2018Lynn Drake