In leasing, Tenants need to know how their leasable / rentable square footage (rsf) is determined. If you’ve ever purchased a residence, you understand that the size of the house is determined by the exterior measurements – “from corner to corner.” When it comes to commercial property, the concept is very similar, but not well understood by people outside the commercial real estate industry. Leasing A Stand Alone Building. If you were... (more...)
Understanding NNN or CAM Leases
I’ve walked several industrial and retail properties with potential tenants lately and am reminded each time that these properties have a tad more complexity due to the nature of those leases since they are typically NNN or CAM type leases. You need to understand the type of lease you are negotiating when dealing with commercial real estate properties. You may be incurring legal responsibilities for costs you might not have anticipated if... (more...)
The Leasing Process – Part 2 – Functionality
Leasing space, whether that be office, industrial / warehouse, or retail space involves a lot of thought on the part of the tenant. If you’re in the retail business, but need some warehousing, you might want to consider “flex” space. If you need a warehouse and are looking for low rent, make sure you don’t need 3-phase power. All users have a priority list of needs – whether they’ve realized it or not. Let’s... (more...)
The Leasing Process – An Overview – Part 1 – Size & Zoning Requirements
We deal with a lot of people with various levels of experience leasing commercial property. Some people are going out on their own for the first time, others are with an existing company, but may be responsible for the leasing process for their first time, while others have been through the process and are competent in the process. Another factor at work, although rarely discussed, is how to work with commercial real estate agents. We’re going... (more...)
