THE CHALLENGE A telecommunications company came to Compass Commercial with a dilemma: they had occupied the same space for close to 10 years and were on a month to month lease when their landlord gave them a 30 day notice to move. Compass had less than a month to find them a ...
Tag: Negotiating Leases
August 15, 2016Lynn Drake
Many prospective tenants approach me with wish lists a mile long, itemizing everything they want in their business suite. When I get down to their budget with them, I often learn they only want a one-year lease. You can’t expect the moon and the stars if you want a short-term ...
April 18, 2016Lynn 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
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
When you lease an industrial building or a strip center, what you see is what you get. Watch out for the costs within a large office space. Each tenant pays a percentage of upkeep in the common area. You already pay for the space within your suite including a lobby, storage ...
August 23, 2011Lynn Drake
Do you see a tall building and wonder what it would be like to own a space inside that property? Do you go on open house tours just see how others live and work? Do you want to become savvier in the real estate business? Come chat with Compass-Commercial. As ...
August 4, 2011Lynn Drake
When I stumbled upon a job in commercial real estate I found 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 ...
July 13, 2011Lynn Drake
Just because someone is a plumber, doesn’t mean they can clear a septic field, snake a basement pipe and also fix the drain in your bathtub. Specialties abound. And you don’t want to be caught deep in effluent. Hire a reputable real estate attorney to review your lease, and you’ll regain ...
June 23, 2011Lynn Drake
My son and I enjoyed thousands of hours playing games and pretending we knew where to find Waldo in a crowd, in a book page or on the Internet. Some landlords I’ve talked with have more luck finding Waldo on the game board than finding tenants for their very nice ...
May 25, 2011Lynn Drake