CRE Definitions Series: Tenant ImprovementsA 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 ...
Tag: industrial lease
November 16, 2018Lynn Drake
Your company culture might encourage people to flex their schedules and stay late in the evening or come in on weekends during crunch periods. Can your building accommodate you? Does it accommodate the hard workers down the hall at your expense?The big question is: Who controls the thermostat?If a building ...
September 15, 2017Lynn Drake
So you plan on moving your office or warehouse in the next six months or so? Now’s the time to plan for the big day and for months of smooth operations thereafter. Here’s a fundamental game plan to ensure all goes well: Appoint a coach, whose primary task in the pre- and ...
June 27, 2016Lynn Drake
Over the next few weeks, let’s exchange some lease clauses that drive us crazy. During my 25 years in corporate real estate I had to live with some mighty repugnant clauses, prohibiting such things as sub-leasing a portion of space, occupying the building on weekends or hiring a satisfactory janitorial ...
July 12, 2012Lynn Drake
“Promises, Promises,” is a long-running Broadway production. The title song speaks of alibis and dashed promises and yet other promises that bring joy and hope and love. Promises in commercial real estate mean nothing unless they are in writing in official “request for proposal” and “contract” format.Don’t trust anything written ...
May 23, 2012Lynn Drake
Talk to any child and you find they have a perfect dream for the basement train set or the equipment needed to have their Wii system rock out. Talk to a grown-up whose business is on the edge of expansion and you see the bright, shining eyes of a child. ...
May 10, 2012Lynn Drake
Harvey MacKay, author of the seminal business book, “Swim with the Sharks without Being Eaten Alive” (prequel to the reality show, Shark Tank) suggested that entrepreneurs focus their energies on drumming up business and managing staff. He recommends leaving the jobs you know little about to professionals who know a ...
February 13, 2012Lynn Drake
Just remember the standard rule of real estate: If the deal looks too good to be true, it might very well be too good to be true.Grandma owns a building. It is a little run down. It is an hour away from our best customer. But we can save $5 ...
October 26, 2011Lynn Drake
Legitimate reasons for moving abound, people need more space, less space, want a more attractive space or a more economical space. But then, as a leasing agent, we deal with the crazy and weird situations, some with bright solutions. Here are a few from the Compass Commercial book of woes: If ...
October 13, 2011Lynn Drake
You see a rental sign for a great building in super neighborhood, the kind of place you could grow your company and create a legacy. You think you might save a few dollars by negotiating the deal yourself. Landlords say the deal could go through faster, cheaper without outside interference. ...
September 21, 2011Lynn Drake